Abstract
This report recognizes four outstanding implementations of legacy and ecosystem transformation, which represents a challenge for many insurers. Replacing core systems, rearchitecting applications, and modernizing technology infrastructure are often major tasks involving high risks.
While insurers have been long thinking about systems modernization and many have already undertaken it, most insurers are still working on or planning to launch legacy and ecosystem transformation projects.
Celent recognizes four companies with a 2019 Model Insurer Award in Legacy and Ecosystem Transformation.
Winner |
Initiative |
Synopsis |
Erie Insurance |
Commercial Account Quote and Application System (QAS) |
The Commercial Account Quote and Application System (QAS) consolidated disparate processes and bridged legacy systems to produce one modern user interface. The changes enabled an efficient way for Erie Insurance’s (ERIE) independent agents to quote multiple commercial products as a singular "account." |
Nedbank |
SAHARA – Single-solution Transformation Programmes |
The purpose of Nedbank’s Project Sahara was to move the life and general insurance products to a single policy administration system (PAS). This was achieved ahead-of-time and below-budget. |
Sompo Japan Nipponkoa Himawari Life, Inc. |
Transformation to ‘Trinity’ Model |
Sompo decided to move to a business model that supports staying healthy. This business model mutually links channels, insurance and services. |
Zurich |
Zurich Life Protection Platform (LPP) |
The platform covers Zurich’s complete market offering in the life and protection space across advised and non-advised, B2B, and D2C channels. |