A conversion of an insurance portfolio to ANVA software is a challenging job that involves a lot of work. We regularly receive questions like: how do you tackle this? Or: what should you pay attention to? In this blog, consultant John IJzerman shares which five steps you can follow to optimize the result of a conversion.
To make the best use of the data in ANVA's software, it is important to first examine the quality of source data. Is the source data current or obsolete? If there is no active propagation in the source system to be converted, the various expiration dates will not be current (anymore). Therefore, before converting, consider how you wish to handle this. Then see if all data is entered consistently. Think for example about the way telephone numbers are entered. Do you always start with the area code and then the subscriber number, or is there no uniform method used?
As consultants, we often see that examining source data comes under pressure due to scheduling. This is unfortunate, as data migration is an opportunity to control and where possible increase data quality.
Realistic planning is critical. In many cases, the date for going live has already been set before the data to be converted has been identified. Also, at that time it is often not yet known what the data to be converted looks like and whether adjustments are needed in the setup of ANVA for the conversion.
If no research has been done on source data quality or the planning is too tight, there is a chance that after going live it will be noticed that "contaminated" data has been converted or the setup is not in order. As a result, unnecessary time must be spent on aftercare.
Based on a preliminary examination of the source data, a conversion report can define which data will be transferred in which way. Such a report also provides guidance for testing and verifying the converted data during one or more trial conversions. Keep in mind that for a conversion the 80-20 rule often applies. This means that 80% of the data can be converted without any problems. 20% of the data will fail in some way. This data must be assessed during testing and verification. In some cases it can be solved by adjustments in the conversion software. In other cases, time must be scheduled in the aftercare to adjust the data manually.
Within ANVA we consider a conversion report to be a living document. Changed insights or findings will therefore always lead to adjustments in the conversion report.
When a conversion is performed by ANVA, there is always a minimum of two trial conversions. The trial conversion(s) provide insight into the expected end result and room for improvement. Our tip? Devote sufficient time and attention to testing and monitoring these trial conversions. Ensure that access to and knowledge of the source data is available. If this is lacking, performing a thorough check is an almost impossible task.
During testing, record all findings on the trial conversion(s) in a report. This way, a next test conversion is easy to check if findings have been resolved. ANVA uses a standard findings document for this purpose.
Capturing all the steps to follow in a migration roadmap reduces the chance of unforeseen follow-up or even conversion failure. Include all actions in one playbook, even if other teams are responsible for performing some of the steps in the playbook.
We previously published an interview with our consulting team about the new conversion street. Or check out our conversion webinar where we explain to you exactly how a conversion works. Moreover, in this webinar Naomi Stol tells you about all the steps involved in a conversion and merge. Curious about the ins and outs? Watch the webinar back.
Wondering what ANVA as a conversion specialist can offer you? You can read it here.
