One of the consequences of merger and acquisition activity is that insurers inherit a variety of legacy systems. And, in the case of IT systems, more isn't necessarily better. Duplicate maintenance and system support, disjointed business processes, and increased overhead expenses are just a few of the challenges compounded by multiple systems.Consequently, many insurers are searching for ways to minimize operational complexity, integrate and consolidate systems, and reduce associated costs.
When system consolidation is the chosen path, insurers look to migrate differing lines of business or business processes to a common IT platform. The concept, while simple to understand, is difficult to achieve.
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