To facilitate global growth for the company's lifestyle protection division
Genworth Financial has completed a large scale data migration project that consolidates its legacy policy administration system across 21 countries to a single platform, in support of long-term business expansion objectives.
The compnay said that the project involves the migration of 15m client policies, billing and claims data amounting to 2 billion rows or 3TB of data from five separate systems to one, with the termination of the legacy systems without interruption to business.
According to the company, the now centralised system is expected to allow ease of access to the company’s products and services. The platform is still flexible for adaptation to each customer’s and country’s localised requirements.
Genworth said that the migrations occurred on a country-by-country basis and to avoid disruption to the business, they were implemented over weekends with timeframes ranging from two hours to a full weekend depending on data volumes.
Ronan Hanrahan, CIO of lifestyle protection division at Genworth Financial, said: A more streamlined, sophisticated IT infrastructure is pivotal to maintain our market-leading position and will support our Lifestyle Protection division as it continues on its growth trajectory. Consolidating our policy administration across Europe onto one platform was a key element of this process, and we are very pleased with the results.”