LIDP Consulting announced the availability of fixed-cost consolidation of legacy life, health, and annuity administration systems to a single platform. Insurance carriers can consider a single, fixed price for their system consolidation effort–from system enhancements to interfaces, contract conversion, and elimination of troublesome legacy systems.

"This is an exciting opportunity for the insurance industry," says Andy Strevell, LIDP's vice president of strategic application architecture. "We have done so many conversions and seen so many different scenarios that we now can mitigate the risk for insurers that previously haven't been willing to take a chance on a system conversion. Insurers now can move to a fully real-time, ACORD-compliant system environment and know exactly what the entire project will cost."

LIDP works with the insurer's subject-matter experts to understand the overall project scope. LIDP then will provide a fixed cost for the implementation study. During the implementation study, even deeper analysis takes place, identifying interfaces, conversion effort, system enhancements, correspondence effort, ad-hoc reports, and everything else that is needed to offer a comprehensive replacement environment. The output of the implementation study is a comprehensive project plan with a fixed cost for all LIDP effort.