viadico Life-Cycle-Model (vLCM)

The performance of the policy administration system (PAS) is a decisive factor for the success of an insurance company in the market. Today standard systems or at least important components of standard systems are frequently short-listed. When selecting a system the insurance company makes a commitment for the complete life cycle of that system. Starting with the selection of the system to implementation including customizing to day-to-day operation. A successful realization of this plan requires a realistic evaluation of your situation, objective and substantial knowledge of the systems on the market and extensive experience in the actual procedures of selection, implementation and operation of such systems.

viadico has exactly this knowledge of standard systems to manage portfolios of life insurance companies in the German speaking countries. We use this knowledge of the leading systems FJA Life Factory, COR LIFE, Alice and v´ger, which our employees gained during many years of work, for unbiased consulting and incorporate it in a neutralized and abstract way into the vLCM. In this we can take on the project and implementation management for the insurance company.

The vLCM basically consist of the steps: Review of the existing policy administration system, selection of the standard policy administration system (SPAS), implementation of the SPAS (including project leadership, products/actuarial practice, analysis and adjustment of standard business processes, IT technology), migration of original data, implementation and migration tests, and optimization and further development of the system in operation.

In cooperation with the employees of the insurance company our employees with their experience and knowledge can ensure that it is possible to work "on par" with the system provider during the whole LCM. Our broad knowledge about SPAS enables us to question the rules and approaches suggested by the provider and to put suggestions for the optimization of the business model to the insurance company. Because of our extensive competence in all steps in LCM we can also assist with bottlenecks at the insurance company. With our special knowledge and experience we significantly contribute to running the project according to plan in regard to costs and time.
We work on-site and in close cooperation with the employees of the insurance company creating a situation that contributes to establishing the necessary knowledge about the SPAS and the development processes in the company.

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