Leading insurance provider with IT architecture inefficiencies

Background

A large insurer faced challenges with its legacy IT systems as significant key-person dependency risk was held with key resources maintaining the general ledger mainframe. As the resources were expected to retire in the near future, the client sought assistance in developing the target architecture.

• Key resources maintaining the general ledger mainframe environment about to retire in four to seven years.
• Long-term vendor support of the mainframe environment.
• System’s lack of recognition of planning, forecasting and budgeting solutions.
• Inconsistencies in the use of dimensions across the business as a consequence of the lack of dimensionality made reporting inefficient and onerous.
• Complex manual allocations.
• Significant reconciliation effort.

• Conducted an assessment on future options for their ageing general ledger. The team also delivered a finance transformation strategy and target operating model which was approved by business and IT Exco.
• Delivered an as-is architecture and capability model and defined potential solution options, together with a high-level implementation roadmap.
• Assisted the client with outlining design principles that would help drive the finance transformation.
• Provided support on the technology RFP which included Oracle and SAP.
• The insurer then agreed to finance a system decoupling approach programme which led to the selection of the sub-ledger SAP Insurance Analyzer.
• PwC SA was chosen as the preferred implementation partner with the assistance of PwC Germany.

• Increased flexibility in terms of the selection of policy administration systems.
• Granular data to enhance reporting and support better decision-making.
• Centralised control of accounting in one area.
• A simplified landscape with reduced risk in the event of a general ledger replacement.