The Innovation Group, a provider of business process services and software solutions to the insurance industry, releases a new version of Insurer Conversion, the conversion component for the Innovation Insurer suite.
Based on industry trends, research, and experience, insurers require data conversion capabilities beyond the implementation of a new policy management system including: business strategy change, merger and acquisition, divestment of a company or line of business, product consolidation, adding new data to improve customer experience, systems consolidation or BPO.
Many insurers view policy conversions as a high-risk endeavor based on past experience. However, successful policy data conversions are critical to both renewal and growth for insurance companies.
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