Binder Management Data Migration for Lloyds and European Insurer

A leading Lloyds european insurer client, had binder contract business for a significant proportion of its premium income spread across multiple branches and systems and its delegated authorities provided bordereaux data in a variety of formats.  IDS was selected to consolidate and migrate the data from six systems into a new BDX Binder Management System. 

Client Business Issue

Branches in London, Chelmsford and Europe each had unique binder management systems that not only recorded incoming bordereaux, but also management information, cover holders details, underwriter visits and financial reviews. As a consequence, they had no-way of reporting on binder business across the group, as it was so dis-jointed. This created divergent processes and data capture standards that restricted reporting capabilities and the alignment of client service standards. The narrow focus of such single-system reports allowed only a small piece of information to be seen at any one time. To realise the full potential of their information, the client needed to unify data across each all of its branches.

Client Value Received

Once the binder management solution BDX had been chosen. IDM was appointed to migrate, consolidate and transform the data from each of the heterogeneous systems to provide a single view of the data. Complexities included mapping and merging data in different formats from 6 diverse systems—with a large amount of cleansing as a result of the inconsistent data capture standards. Additionally, IDM supplied new business rules to allow integration between the new binder management solution and the existing underwriting systems.

As a result of the migration the new BDX binder system provides essential information spanning 7 years. The client can now produce management information quickly with significantly fewer data errors.