Life Core Systems Conversion: Key Issues and Best Practices
Report Summary
July 2018 - Understanding the factors that contribute to conversion project complexity and developing a strategy to address each of them is critical to success. It is equally important to develop an approach that addresses all product blocks, accounts for the time sensitivity of financial transactions, and sets guardrails for what is an acceptable balance between automation and manual processes. Using best practice approaches, increasing the involvement of knowledgeable resources, and developing a multi-run approval process, carriers increase their chances of a successful conversion.