As insurance brokers grow and become global, they seek unification of inherited brokerage platforms used by the companies they acquired. How is this possible considering:
These platforms are built on a wide variety of hardware and software, often which is home grown
Unification & Archiving
Each insurance brokerage system essentially contains the same type of content: customer data, claims and policies. Therefore, you just need a way to migrate legacy data and content into a system that can handle both structured and unstructured forms.
A repository where insurance brokers can consolidate all of their legacy data and content—both structured and unstructured is ideal. The Windward Group can help migrate your legacy data and content into any path toward organization.
Benefits of Unification
Once these systems are consolidated, you will reap the following benefits:
- Enhanced Customer Service: all customer info is in one place for greater responsiveness to customer questions and problems, no matter where the account originated and how many times their business was acquired by another company (i.e. chain of custody)
- Lower Costs: you no longer have to maintain legacy hardware, software and the specialists who maintain them
- Compliance: ensure that you keep all information for as long as legally required (and longer if you wish based on retention policies) and to make information instantly accessible for auditors
- Analytics: you can mine the data and run analytics on both structured and unstructured content to discovering ways in which to increase customer retention, cross-sell/up-sell services and identify new types of services needed by your customer base
The cost savings alone of migrating your legacy data will provide a positive return on investment in 12-24 months, while increased customer retention and result of analytics can lead to sustainable competitive advantages. Contact us to learn more about how The Windward Group can help you migrate your legacy data.