Legacy Insurance System Modernization

Reduce the cost and risk of legacy system modernization investments

Amid considerable competition and increasing demands to enhance business productivity, Insurance companies today face mounting pressure to improve services to policyholders and intermediaries whilst reducing costs. These challenges have raised the need to modernize legacy underwriting, policy management, claims processing, and other applications core to the business.

However, replacing these systems is a massive undertaking that creates risk and introduces potentially significant costs. Insurance application modernization investments require experienced people, proven processes and leading-edge technology to ensure that the projects are delivered on time, on budget and, ultimately, meet business requirements.

Informatica’s Intelligent Data Platform (IDP) features the following capabilities for your new and existing legacy modernization projects:

  • Scalable and secure test data management to efficiently procure subsets of data from source systems, while protecting sensitive information from security breaches during testing and development
  • Enterprise class data integration including capabilities for accessing data from any platform, database, structure, or format to ensure proper, timely, and accurate data migration and synchronization among both legacy and new systems
  • Data quality management and governance to profile, discover, cleanse, report, monitor, and correct data quality issues, ensuring that data is fit for use in your new Insurance systems and applications.
  • Data validation to ensure that data migrated from legacy systems into new underwriting, claims, billing, and policy management systems is valid and based on business requirements
  • Data archiving to retain legacy data for satisfying ongoing compliance needs, while ensuring timely retirement of Insurance applications and systems 

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