session #571 implementation - iasa session papers/tech... · csaa insurance group is celebrating...
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IASA 86TH ANNUAL EDUCATIONAL CONFERENCE & BUSINESS SHOW
Session #571 – Core Transformation: Implementation
Karen Furtado – Strategy Meets Action, Partner
Karen has been a partner at Strategy
Meets Action since 2008. SMA is a leading
independent advisory firm providing
business and technology insights,
research, and actionable advice to the
insurance industry.
She assists insurers in their modernization
journey through her exceptional knowledge
of how to most effectively use technology
for policy administration, rating, product
configuration, billing and claims.
Karen has held various leadership
positions in the insurance industry over the
past several years.
Derek Oke – Sr. Information Technology Architect – Travelers Canada
Derek Oke, Sr. Information Technology Architect – Travelers Canada
Derek has been with Travelers Canada since 2004. In his current role, he
provides architecture oversight for a multi-year core system replacement
project. This project will replace all legacy applications from user entry
applications to back end reporting.
Prior to Travelers Canada, Derek worked with multiple technology
providers in implementing Policy, Claims and Billing systems for insurers
in the U.S. and Canada. Derek has played many roles including lead
architect and project manager.
Derek has a joint degree in Computer Science and Business
Administration from the University of Waterloo and Wilfrid Laurier
University.
Travelers Canada is the strategic Canadian operation of The Travelers
Companies, Inc., a leading multinational property and casualty insurance
company with approximately 30,000 employees. Travelers Canada
provides personal insurance, business insurance and surety solutions to
customers from coast to coast.
Scott Hunt – President, Project Innovation
Group & General Manager, PAS Transformation,
CSAA Insurance Group
Scott is the General Manager of PAS Software Development &
Implementation for CSAA Insurance Group. Scott has been part of
CSAA Insurance Group’s PAS transformation initiative since March
2009
Scott is also the President and chief consultant for Project
Innovation Group, a boutique management consultancy based in
San Francisco. He has provided project management expertise on
large scale transformation initiatives for such clients as Charles
Schwab, Levi Strauss & Co., Wells Fargo, Barclays Global
Investors, and AAA NCNU
Scott was formerly a VP at Digital Insight (bought by Intuit),
founding SVP at Wells Fargo Funds Distributor, and part of the
senior leadership team that took E*TRADE Securities public
CSAA Insurance Group is celebrating its 100th year in the insurance
business. It ranks 16th for personal lines in the country, and serves
16.6 million AAA members through partner clubs in 23 states and
Washington, D.C.
CSAA Insurance Group has an "A+" (Superior) financial rating from
A.M. Best
CSAA Insurance Groupa AAA Insurer
Tim Steele – OneShield, Sr. Vice President, Product Management
Responsible for the strategic direction
of OneShield's product offerings.
Previously led projects for a software
consulting organization and helped
create an internet insurance
marketplace.
Over 10 years of experience managing
surety and specialty insurance
business units for several major
carriers.
Fazi Zand – SVP, Products, Exigen Insurance Solutions
Fazi joined Exigen in 2000 is one of the early formulators of
Exigen's insurance solutions and is responsible for product
strategy and development.
With over 25 years in IT management, marketing, strategy,
architecture, project and product management, Fazi draws on
experience on all aspects of the information technology value
chain.
Exigen Insurance Solutions® is a global provider of core
systems for insurers. Customers deploy Exigen’s multi-line
platform of pre-configured products for personal, commercial
and group benefits lines to achieve rapid and scalable solution
implementations.
Exigen provides the Exigen Suite™ pre-integrated and cloud-
ready solutions - PolicyCore™, BillingCore™, ClaimCore™
and CustomerCore™ - for policy administration, billing, claims
and customer management.
Exigen Insurance Solutions employs 600 people worldwide
and is headquartered in San Francisco.
IASA 86TH ANNUAL EDUCATIONAL CONFERENCE & BUSINESS SHOW
Current State of Core
System
Implementations
Core Transformation Power
Core Transformation involves:
1. Modern applications
2. Operations best practices
3. Roadmap for the future
4. Integrate with Next-Gen
technologies
Source: Strategy Meets Action 2013
Average Replacement Timeframe is 2.9 years
Source: SMA Research 2013, Policy Administration, n=121
Extended Timeframes for Implementation
Implementation Success and Failure
Where are the challenges?
Source: SMA Research 2013, Policy Administration, n=121
Source: Strategy Meets Action 2014
Transformation Opportunity
IASA 86TH ANNUAL EDUCATIONAL CONFERENCE & BUSINESS SHOW
Polling Questions
Polling Question #1
Have you ever implemented a new core system?
• 1 – YES
• 2 - NO
Polling Question #1
Are you currently implementing a new core
system?
• 1 – YES
• 2 - NO
Polling Question #3
Will you be undertaking a core system data
conversion project in the next 12 months?
• 1 – YES
• 2 - NO
IASA 86TH ANNUAL EDUCATIONAL CONFERENCE & BUSINESS SHOW
Panelist Q&A
Implementation - Planning
Did you use an Agile or Waterfall approach? Did you
develop an enterprise blueprint before you started?
How did you organize your team?
What program level resources did you assign?
How did you decide your implementation methodology?
Words Of Wisdom
Determine how to staff - is it just another project or should
you hire up so you can dedicate staff across IS and the
business units?
Finding the right people to make up the team is the biggest
key to success in an implementation.
Implementation – Execution
How did you determine what should be planned for initial
releases?
How did you maintain focus and control scope?
Did you have a change management program in place?
Implementation – Execution
Did you leverage automation and testing tools? (could be
on-going too)
What did you perceive as the major risks for your
effort? What did you do to mitigate these risks?
How did your business do in supporting such a long running
effort?
Words Of Wisdom
Identify what success will look like and how it will be
measured early in the planning. Things like time to market
for product and pricing changes, improved service
standards, headcount changes, new markets, etc. They
should then be validated in a post-implementation review.
Assure strong business sponsorship. Maintain ownership
of the Program and Architecture. Assure program is
integrated within a long term technology roadmap.
Words Of Wisdom
Newer systems still have risk and challenges like legacy
systems, but often different ones and be sure they’re
understood and planned for.
Do demos often
Make sure the users are involved early and frequently in
the project. Allocate resource time out of operational
departments so customer service does not suffer.
Implementation – On-Going
How did you plan for post-production?
What are the challenges in supporting your new environment?
Did you have metrics that compare your actual results with
your original business case?
Did you have any metrics around TCO?
Final Words Of Wisdom
Be sure as you invest in new technology, your organization
keeps pace – people, processes, tools – necessary to
support long term.
People make successful implementations. Technology and
tools assist them.
There are always challenges along the way, plan for them
and don't get discouraged when they arise, use them as
opportunities to strengthen your determination and move
forward with your plans.
IASA 86TH ANNUAL EDUCATIONAL CONFERENCE & BUSINESS SHOW
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