Due to mergers and acquisitions in the Life and Annuity industry, the applications landscape has grown phenomenally. System complexity, aging PAS systems, cost-ineffectiveness in maintaining and upgrading life & annuity insurance systems, virtually negate the competitive edge over other carriers in the market. Insurers need to consolidate multiple and duplicate systems to streamline their operations.
Coforge has proven expertise in the life and annuity insurance. We have designed and refined processes to efficiently migrate multiple PAS systems to a single PAS system, bringing huge benefits to insurance carriers by reducing complexity and costs. We have built a suite of accelerators for product setup, data mapping, data transformation, and balance testing to cut down significant amounts of effort and cost from the entire policy migration process.
Our end-to-end technology expertise spans the areas of design, application development, application maintenance, testing, and migrations.