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. Fill in your details below or click an icon to log in: On June 1, , Income succeeded in the migration of its legacy insurance systems to a digital webbased system. By continuing to use this website, you agree to their use. This meant that backups had to be performed at the end of every day in a costly and tedious process, or the company would risk losing important data. COBOL programs also encountered frequent breakdowns that halted the systems and caused temporary interruptions. Proposals were allocated to staff randomly.
How were the problems resolved by the new digital system? Moving to a paperless environment, however, was not easy. What benefits did Income reap from new system? Notify me of new comments via email. 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.
In the insurance industry, information systems are very important in ensuring product and services-competitiveness. Accepted proposals were sent for printing at the Computer Services department and then redistributed. At the same time, COBOL programs were very slow in developing new products for moeernization company resulting to lost sale opportunities. For example, all servicing branches were equipped with scanners; monitors were changed to 20 inches; PC RAM size was upgraded to MB; and new hardware and software for application servers, database servers, web servers, and disk storage systems were installed.
Fill in your details below or click an icon to log in: Blogger 21 November at From the agent submitting the forms to branches, office services would sort them for underwriting; storage is done by sorting all documents and is put in cartons, where all documents are stored in 3 warehouses. Distributed By Gooyaabi Templates.
Upgrades should also be done periodically to cope with the changes in the demand of the lncome and the market.
Case Study 4: Modernization of NTUC Income | B.I.B.O
Nice case study about modernization. This is made possible with the use of moderniaztion or more servers connected by two or more communication lines.
Whenever a document is needed to be retrieved, it would take about two days to locate and ship it by courier. Implementation work started in September and the project was completed in nine months.
The new digital system also addressed the slow development of new products by COBOL through the straight through processing workflow capabilities of the new system. Incomes insurance processes were very tedious and paper-based.
How were the problems resolved by the new digital questiond The way they do business costs them time, because it takes them more days to finish a certain request for insurance; money, because they need to upgrade HP mainframe that frequently breaks; space, because it is paper-based, all forms were put into cartons and resulted to occupying 3 warehouses.
The new system was operational on high-quality platform with multiple servers and communication lines. Email required Address never made public.
Provides greater support to intermediaries: Tedious and paper-based insurance processes which causes delay and time consuming frequent systems breakdown and insufficient functional back-up systems. Notify me of new comments via email. In one of the hardware crashes, it took several months to recover the lost data. In all, paper policies comprising 45 million documents were stored in over 16, cartons at three warehouses. Through the new digital systems, these problems were addressed.
The Office Services log, sort, and send documents to underwriting. As a part of eBao implementation, Income decided to replace its entire IT infrastructure with a more robust, scalable architecture.
Case Study 2: Modernization of NTUC Income (pages ) | ✴️JUST-IN-CASE✴️
The entire insurance process started with customers meeting an agent, filling in forms and submitting documents. I think the Income seems to be well prepared for the future now.
Are the problems described in the case likely to be repeated? You are commenting using your Facebook account.
What benefits did Income reap from new system?
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. A real-time hot back-up disaster recovery center was implemented.
Case Study 2: Modernization of NTUC Income (pages 105-106)
With regards to their modernizatikn processes, Income does all the work manually. For example, STEP technology eliminates the use of paper which promotes environmentally friendly as well.
The new system was immediately operational on a high-availability platform.