TECHNOLOGY
invitations from their old several old systems onto one
systems and, once they have new platform will only have
received a communication one set of suppliers fees to
back from brokers, will pay, but will need to manage
automatically create the the risks associated with data
policy on the new system, quality and disruption to
where comprehensive records trading during a contracted
will be built up. migration period.
Managing back office This threat can sometimes
systems in this way offers a be minimised by carrying out
seamless process to customers the transition over the course
and brokers alike and allows of a long weekend and having
the insurer to execute the carried out trial runs against
migration process in a very copies of the system ahead of
manageable way. D-Day. A worst case scenario
There are cost might be an insurer has to
implications associated with turn its systems off over the
running two systems migration period, but with
simultaneously, with both the adequate risk management
supplier of the existing system and testing, this should not
and the new software provider need to happen.
charging for their support. For So what should brokers benefits to all parties are transient fad, but a necessary
some insurers, however, the expect when trading with an significant. A modern system business strategy that will
benefits of a more cautious insurer that is migrating to a will give brokers more control continue to escalate as
migration outweigh additional new technology platform? The over their business processes distribution channels expand
costs incurred. short answer is business as and access to claims details and enhanced customer
Those adopting more of a usual. If an insurer has taken over the web. They will be service becomes crucial. Over
big bang migration from the phased approach of able to view policies, make the last five years, RDT has
running two systems adjustments and reconcile replaced more than a dozen
simultaneously, a broker might accounts – all on-line and in legacy systems with its
see two sets of statements, real time. Insurers are given seamless end-to-end
but a good software provider the flexibility to tweak broker administration system
will be able to address this rates according to Landscape.NET.
quite easily. performance, thus improving Managed professionally,
The main consideration working relationships, as well risks to business continuity are
for a broker to focus on is as handle the MID process mitigated, while the benefits
that migration to an enhanced automatically. Overall, that innovative technology
IT platform is a big task for insurer-broker relationships delivers to insurers and
insurers and that ultimately and communications will be brokers alike far outweighs the
business and communications considerably strengthened. potential pitfalls of
processes will be significantly Migration to enhanced undertaking the migration
Mark Bates
improved as a result. and innovate technology process – be it a big bang or
Chief Executive
The tangible operational
RDT
solutions is not just a softly softly approach.
Insurance Brokers’ Monthly 19
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