Challenge

A longstanding ALIP client holds $634 billion of in-force policies and manages more than $30 billion in assets. Its more than 5,000 associates and field representatives provide retirement plan services and investment products through its affiliates, including a highly-regarded life insurance brand.

The insurer wanted to up its competitive game by launching more products faster and building the in-house capability to do so. It wanted a modern agile platform to advance three areas:

  1. accelerate new product development,
  2. migrate legacy data and
  3. create its own business rules in real time.

The insurer wanted to up its competitive game by launching more products faster and building the in-house capability to do so.

Strategy and Solution

How Accenture helped

As a trusted partner for many years, Accenture helped the insurer upgrade its COBOL predecessor system to the modern Java-based version of ALIP. The modern platform provided flexibility to quickly configure the system to the insurer’s unique workflows, processes and products, while establishing a continuous upgrade path to remain current with the platform’s latest enhancements.

Implementation strategy

The insurer and ALIP’s delivery teams implemented base ALIP while running in parallel the legacy COBOL system. This minimized disruption to the insurer’s operations and allowed it to continue processing new business. It consolidated to five product chassis and 17 variations; and migrated 45,000 policies from the legacy system.

Within a year after implementation, the teams upgraded across five ALIP releases to the most current version in only eight weeks, using ALIP’s Continuous Upgrade program. Through the program, the insurer leverages a predictable and repeatable upgrade schedule that also allows it to benefit from the ongoing functional and product enhancements made available through Base First — a methodology that puts development from Accenture and the client community into the base system for all users to apply out of the box or as a starting point from which to configure.

Transformation

The effort significantly improved the insurer’s business operations by eliminating the operational cost and risk of managing a legacy system, giving it greater control over its IT costs. Equipped with flexible, configurable technology, the insurer is now self-sufficient, capable of developing and testing new products at accelerated speeds.

Feature enhancements that once took months take only days thanks to ALIP’s Continuous Upgrade program, and within a few months of going live, the insurer rolled out its first set of new products including indexed life, annuity and death benefit riders.

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