Extracting value from organically grown business
The Challenge
As the result of an extended phase of mergers and acquisitions, our client (a Life & Pension Provider) was ready to move to the transformation phase of their business strategy, designed to release full value from their customer base through consolidation leading to operational efficiencies across business operations and support functions.
Phase 1 was the migration of a series of books of Life business (closed and open) onto a single platform.
The Approach
Utilising the extensive experience of our team we led the client through the development of a migration approach.
In addition to advising on standard areas of data mapping & cleansing, test approach, environments and test execution, we supported the client through the analysis of product structures (including charging models) and business process for source businesses to produce gap analysis against destination system.
This ensured that the level of functional change for the destination business was appropriate to the reflective financial benefit of those differences, or where a simple ‘lift and drop’ would be the most appropriate approach.
The Outcome
This gap analysis allowed us to work with the client to define an execution approach that ran the full cycle of the programme from data migration, functional change, product consolidation, business process change, through to revised IT support models aligned to the new landscape.
Having supported our client on gaining approval of the strategy and approach from their internal approvals and controls governance process we were then able to provide them with a range of highly experienced transformation specialists to augment their teams and execute the successful delivery of the migration.
