Authored on: Feb 07, 2012
Improved speed to market, more competitive product offerings, better customer service - these are the advantages that come with replacing an aging policy administration system. So why do insurance companies still hesitate to undertake a replacement project? One reason is the risk involved in migrating from an old policy administration system to a new one. New ways of thinking about core system migrations, including data conversions, can help insurers reduce this risk and realize the benefits of a modern core system.
The concept of "adaptive migration" combines proven data conversion methodologies with an adaptive, rules-driven core system, turning programming code into business rules and inflexible processes into flexible ones.