At last all life insurance policies in the same system

The move from the old NYFS system to Inca means that Swedbank Försäkring has gained a number of advantages. “Now we have a modern Windows environment for all insurance policies. With the old system on an old and outdated server there was a risk of performance problems and downtime. Increased operational security is one of the key activities in the business plan”, says Kristine Nordin, Project Manager at Swedbank Försäkring.

“In addition, the insurance policies in the move will be easier for advisors, customers and our staff at Administration to manage. Now that all administrators are working in the same system we can allocate working tasks must more easily. Inca gives us a number of other advantages because it is a more modern and stable insurance system. Fewer integrations reduce complexity and lower costs. Integrations to the internet bank and bank account system are now for example the same for all insurance products. The need for extensive system tests also diminishes”, continues Kristine Nordin.

Effective collaboration on all fronts

“Skilled and enthusiastic project participants and a more effective collaboration between Swedbank Försäkring, Swedbank Group IT and Itello is the key to the successful move”, says Kristine Nordin. “Everyone has worked very hard in a short time. It was great to see the results we can achieve when we work together.”

A long journey

“As early as late autumn 2011 the project to decommission the old system was started. For financial reasons it was temporarily halted but later resumed in autumn 2012. In spring the work intensified the closer we approached June. Although NYFS is empty of insurance policies, it will remain open for a few more months. This is because any customer cases that now come in the cut should be managed. It is a lesson we brought with us from our last migration of a system to Inca in 2010. At that time we moved 1,350,000 unit-linked insurance policies gradually from SFF to Inca with both systems in production. It was vital that customers could switch funds no matter which fund units they were registered in and this made us decide on a gradual migration this time.”, explains Johan Modig Project Manager for Itello for both migrations at Swedbank Försäkring.

“It is easy to see all of the benefits that result from only having one system for all administration of one’s insurance policies. Many of the advantages like more efficient administration and lower management and operating costs also occur immediately once the production launch of the migrated insurance stock is done. It is important to find a good operational situation time-wise to implement a migration project. Both the submitting and receiving systems are in production which places high demands on risk management. The various systems look different in terms of technology, concept and data content. Key competence is crucial for success. In short, migration projects are complex and resource demanding. It is therefore particularly great to see that Swedbank Försäkring has yet again managed to be successful at all levels in this production launch”, says Johan Modig.

Would you like to know more?

Please contact either one of our project managers:
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  • June 20, 2013