Large Insurance Company Acquires Recordkeeping Firm Requiring Business Model Integration
For a large Midwest Insurance company acquiring a recordkeeping firm, the client needed to develop the detailed flows and requirements for recordkeeping operations, trading flows with the NSCC/FundServ, cash and shareholder service fees, commissions, regulatory reporting, and multiple custody/trust interfaces. They needed to enable the combined firms to improve the competitive position of their current recordkeeping offerings. EI’s Industry Consulting services defined a strategy and a roadmap for the business model integration of the acquired recordkeeping firm’s solutions and operating model.
EI’s Business Transformation services operationalized the transformation of existing processes and tailored new processes, integrating them into a coherent joint operating mode. EI’s Application Implementation and Enterprise Integration services worked with IT from both organizations to reconfigure COTS recordkeeping solutions, migrate the information. This allows for integration of the new services into the IT Service Catalog. As a result of partnering with EI, the client managed the risks and challenges of integrating different recordkeeping models into one, making the joint technology portfolios interoperable. This was accomplished by enhancing integration, working with operations and the IT team to customize and configure solution components in order to realize the envisioned joint operational needs.