Life policy administration transformation from IBM

Leading market differentiation

Improve operational efficiency and responsiveness to business objectives. Ensure the continuous operations of critical systems for your insurance carrier. Transform your insurance company's policy administration systems and enable more efficient business process and process choreography. Accomplish all this to meet company-specific goals and strategies with the help of IBM.

Boost efficiency with innovation from IBM

Crucial drivers to modernizing policy administration systems are aging systems and the need to create value through product portfolios that are profitable and competitive in the marketplace. IBM has developed solutions to address life policy administration transformation and enable your carrier to update applications, systems and hardware based on your unique strategy.

IBM offerings address the full spectrum of ways to address business and IT challenges, from diagnostics to complete business process and systems transformation. Based on an assessment of your carrier, our solutions are designed to:

• Define and outline where to start and how to ensure flexible and rapid support for your business objectives.
• Update legacy administration systems and environment and replace with modern technology either built or bought.
• Identify the most appropriate applications and middleware to implement, integrate replace or convert.
• Modernize middleware supporting the back office and extend the life of your legacy administration systems and environment.

Results based on customized needs

The IBM life policy administration transformation solution can help insurance carriers improve operational efficiency. In one case, Kyobo Life Insurance, headquartered in Seoul, Korea, engaged IBM Global Business Services to provide a life policy administration solution. Out-of-date business processes kept Kyobo Life from responding to customers' needs for new insurance products, limiting its ability to compete successfully in the Korean insurance market. With integrated core insurance and delivery systems, Kyobo would be able to respond quickly to customer queries and introduce new products to the market faster than its competitors. IBM provided a near real-time, customer-centric core insurance system uniting all customer channels, allowing enhanced service, reduced costs and an improved competitive position.

IBM has the expertise and technology innovation to also help transform your policy administration systems.

• More than 40 years experience in the insurance industry with hundreds of successful completed transformation services engagements worldwide.
• Large stockpile of assets used to accelerate project work.
  • Insurance Application Architecture (IAA) and Insurance Information Warehouse (IIW)—data, process models, use cases, component models, interface design models, object artifacts.
  • Component-based modeling, follow-on diagnostics and focused engagement proposals.