Embarking on data migration projects makes insurance companies apprehensive. The sheer magnitude of data or applications to be migrated can pose risks due to insufficient planning, inadequate attention to data structures and relationships, and time and budget overruns. More than 80% of data migration projects overrun planned time, budgets or both. Among data migration projects, the average cost overrun is 30% higher and the average time overrun is 41%. Often, the overruns are due to underestimating the complexity of data migration initiatives.
Capgemini performs data conversions that are faster, higher quality and more cost effective than traditional methods by using our proprietary methodologies, assets and accelerators. Our three primary conversion tools were developed using industry standards and include documentation and audit trails to support clear communication. They include:
- Plan / Modification Analysis (PMA) Tools: Help determine all of the converted products and associated product features that must be supported and identify potential modifications required in the target system.
- Data Migration Workbench Tools: Analyze, scrub, map, translate, program and test data that is converted from one system to another. The same group of tools can be used to support the creation and documentation of interfaces between systems.
- Conversion Verify Tools: Used to perform hundreds of edits in order to assure data consistencies within the target system database fields. Also compares calculated values between the source and target systems.
Experience Where it Counts
We have a proven track record for managing complex conversion efforts with extensive knowledge in all major software packages. In fact, Capgemini consistently converts over 99% of transactions. Our proven conversion tools ensure significant reduction in total cost of policy conversion. We can calculate the ‘per claim’ or ‘per policy’ conversion cost so you can assess the total cost of future operations. Typical targets include:
- 35% reduction in first conversion expense
- 50% reduction in future conversion expense
- 50% reduction in conversion complexity, governance time and effort
We’ve used our suite of tools and methodology to successfully convert from 50 to many thousands of policies for our clients.