Celent Model Insurer 2019: Case Studies In Legacy and Ecosystem Transformation

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12 April 2019
John Barr and Nicolas Michellod

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.

Click here for all 2019 Model Insurer Winners

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Insight details

Content Type
Reports
Focus
Case studies, Innovation & Emerging Technology, Legacy and Ecosystem Transformation
Location
Asia-Pacific, EMEA, LATAM, North America