A portfolio management approach to deciding the fate of application systems administering closed blocks of business
All insurance companies are faced with the need to introduce new products that are designed to conform to changes in regulations such as new reserve standards, new reporting requirements or new restrictions on benefit and financial design. Accomplishing this objective is hampered to some degree in all insurance companies that are saddled with significant portfolios of products they no longer sell but are still represented by Policies remaining in force. This is especially true for insurance companies which have grown significantly through acquisition—the successful companies—and those that regularly discontinue unprofitable offerings—the innovative and dynamic companies. These portfolios are referred to as Closed Blocks. Read how Capgemini uses a structured portfolio management approach to helping IT make decisions of legacy systems used for these Closed Blocks.