TECHNOLOGY
Smooth transitions in a
changing world
RDTs chief executive Mark Bates explores how business continuity can be
detail could compromise data
quality, a phased approach
safeguarded when insurers upgrade to new technology platforms
might be more pertinent, with
old and new systems running
have to be a big bang
in tandem. Each situation
T
he migration to new IT move are concerned about the
back-office potential threat to business operation that threatens
should be weighed
administration systems is continuity during the business continuity. True,
individually.
on the increase, with insurers migration process – and the some insurers prefer to
Several of our customers
recognising that they cannot impact it might have on its migrate all of their data
have opted to continue to run
rely on traditional paper-based brokers trading position. across from multiple legacy
old systems for business as
business processes and old These concerns are systems onto a single solution
usual, but renew business on a
legacy systems if they are to understandable and insurers in one move and for them,
new technology platform, with
remain competitive. are wise to consider the this is the most cost effective
both systems running in
Yet while the benefits of potential implications of an IT and impactful option.
parallel until all policies have
a technology upgrade are far upgrade. The good news is For others, where full
been through the renewal
reaching, some insurers migration to a new data migration from old
cycle. EDI users, for example,
thinking of investing in such a technology platform does not systems with less granular
can send out renewal
18 Insurance Brokers’ Monthly
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