Maybe this will help them to be still more competitive in the future. In addition, Income also revamped its business continuity and disaster-recovery plans. In one of the hardware crashes, it took several months to recover the lost data. In , despite periodic investments to upgrade the HP mainframe that hosted the core insurance applications as well as the accounting and management information systems, it still frequently broke down. What were the problems faced by Income in this case? Furthermore, the LAN cables were replaced with faster cables, a fiber-optic backbone, and wireless capability.
Accepted proposals were sent for printing at Computer Services and then redistributed. How were the problems resolved by the new digital system? When it broke down, work would stop and the staff would choose either data reconciliation or backup, which was costly and time-consuming.
In the event of the datacenter site becoming infome, the operations could be switched quickly to the disasterrecovery site without the need to rely on restoration of previous day data. Incomes insurance processes were very tedious and paper-based.
To ensure the success of the new system, proper implementation and control should be done. With the new information system, Income is now equipped to face the challenges of the industry.
The Expendables: Case Study 3 Chapter 2 : Modernization of NTUC Income
On June 1,Income succeeded in the migration of its legacy insurance systems to a digital webbased system. Income used HP mainframe that hosted the core insurance applications as well moderhization the accounting and management information systems. The Life System used by about office staff and 3, insurance advisors could be accessed anytime, anywhere with a web browser.
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At the same time, development of new products using the COBOL is quite cumbersome and took weeks, even months, to accomplish. The benefits of Income reap from the new system are: Proposals were allocated to staff randomly.
Improvement in System Connectivity: With the successful implementation of the eBao system, Income obtained significant benefits in terms of higher efficiency and performance with a reduction in both operational and hardware cost. Continuous straining should be given to the staff to ensure proper use of the system and to maximize the potential of the system.
Similarly, the operations could be switched quickly to the new disaster recovery site without the need to rely on restoration of previous day sgudy.
Provides greater support to intermediaries: At the same time, COBOL programs were very ov in developing new products for the company resulting to lost sale opportunities. This allowed Income to view a summary of each customer over different products and business areas. Describe the Information systems and IT infrastructure at Income after migrating to the fully digital system?
Case Study 2: Modernization of NTUC Income (pages 105-106)
In the insurance industry, information systems are very important in ensuring product and services-competitiveness. Income also reduced and eventually eliminated the use of paper. At the same time, transaction processing for policy underwriting was still a batch process and information was not available to agents and advisors in real-time, resulting in loss of opportunities for cross-product sales.
Many users can access the system at one time, any time, and anywhere. The entire IT infrastructure was revamped and was replaced with a more robust, scalable architecture.
The straight through processing workflow brought 50 percent savings on both the time and cost needed to process policies. They also lost opportunities to cross-sell because transaction processing for policy underwriting was still a batch process and information is not available to agents and advisers in real-time. With the use of the straight through processing workflow capabilities of the new system, Income saved as much as 50 percent on time and costs in processing policies.
The insurance process involved customers meeting an agent, filling forms and submitting documents. Through the new digital systems, these problems were addressed. Popular Posts Case Study Proposals were allocated to underwriting staff, mostly at random. Similarly, whenever a document needed to be retrieved, it would take about 2 days to locate and ship it by courier.