ILACAS Migration Success
An
exhaustive selection process involving informal question
and answer workshops and presentations resulted in Kognitio
being awarded the contract. |
|
"Kognitio
demonstrated an excellent track record
for handling client and policy data from many financial services
companies."
Brenda McGregor, IT Project Manager, Prudential.
The long-term financial advantage of closing
down older administration systems and transferring the processing
of records to new systems is appealing to most companies within
the financial services industry who have experienced a proliferation
of core administration systems for new and existing business.
The result of this proliferation has been an increase in running
costs through system maintenance and multiple streams of development
work. For business users it has resulted in the frustration
of having to use multiple systems for a diversity of tasks.
"Due to the time constraint, it
was important to choose a company that knew the system and
had the expertise and knowledge of the financial services
market."
Brenda McGregor, IT Project Manager, Prudential.
From ILACAS to CAPSIL
With a range of 35 core administration systems, Prudential
considered the options for closing down non-core systems.
One of these was ILACAS, an existing mainframe based administration
system developed in-house in 1977. The primary reasons for
closing this system were that it:
- did not have the flexibility to cope with
the demands of a customer call centre type environment
- had relatively high running costs
- had suffered from a lack of investment spend
over recent years
- was not Y2K compliant
Therefore the advantages of replacing the system
were substantial. Due to the age of ILACAS however, limited
system knowledge and minimal documentation existed.
The Prudential chose to migrate the data to
CAPSIL, a mainframe based life and pensions administration
system, due to its good product and functionality match. The
transfer of records involved both pension and life products
in a phased process, covering 250,000 policies with their
attached histories. Due to the age of the ILACAS system, it
was also necessary to run a data clean up project alongside
the conversion. Strict validation rules were to be included
in the conversion process and a report required for cases
that failed these.
Supplier Selection
An exhaustive selection process involving informal question
and answer workshops and presentations resulted in Kognitio
being awarded the contract.
"Kognitio demonstrated an excellent
track record for handling client and policy data from many
financial services companies."
Brenda McGregor, IT Project Manager,
Prudential.
Kognitio Activity
A total 10 million records were moved from ILACAS to CAPSIL
as part of a 3 phase project. Data types involved client details,
company details, policy master records, unit transactions
and histories, premium history and fund details.
In addition, the speed, efficiency and accuracy
of this task was increased through the use of the Kognitio
Data Factory Tool Kit (DFTK), software specifically written
in-house for data handling in the financial services market.
A Partnership
Migrating data from ILACAS to CAPSIL was the result of a successful
working partnership between two companies at the forefront
of their respective fields in financial services.
"A major phase of
the Data Migration project was completed on schedule. The
quality of work and support provided by Kognitio was exceptional.
This milestone has been recognised as a total success across
the company and Kognitio's support was fundamental to that
success."
Brenda McGregor, IT Project Manager, Prudential.
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