Guide
Modernising closed books to reduce cost, risk and legacy dependency
A guide to modern servicing for closed-book life insurance
Overview
Closed books continue to generate servicing, payment, reporting and compliance work long after products stop selling.
Yet many remain supported by ageing systems, manual processes and specialist knowledge.
As policy volumes decline, the operational cost and risk surrounding the book may not decline with them.
Download the guide to explore how life insurers can reduce unnecessary complexity, avoid
migrating existing problems into a new environment and build a more connected, controlled
servicing model.
Download the guide
Yet many remain supported by ageing systems, manual processes and specialist knowledge.
As policy volumes decline, the operational cost and risk surrounding the book may not decline with them.
Download the guide to explore how life insurers can reduce unnecessary complexity, avoid
migrating existing problems into a new environment and build a more connected, controlled
servicing model.
What the guide covers
• Where closed-book servicing costs really build
• Why maintaining the current environment is not risk-free
• How operational problems can follow policies during migration
• What connected servicing, payments and workflows look like
• How to surface legacy-data issues earlier
• Where AI-assisted migration can accelerate work while retaining human oversight
• What to look for in a modern closed-book operating model
• Why maintaining the current environment is not risk-free
• How operational problems can follow policies during migration
• What connected servicing, payments and workflows look like
• How to surface legacy-data issues earlier
• Where AI-assisted migration can accelerate work while retaining human oversight
• What to look for in a modern closed-book operating model
Move the policies, not the problems
Migration can reduce dependency on ageing systems, but it does not automatically remove
manual servicing, payment exceptions, fragmented reporting or undocumented business rules.
The guide explains why insurers should define the future operating model before moving the
data- and how a joined-up approach to migration and servicing can reduce cost, complexity
and operational dependency
manual servicing, payment exceptions, fragmented reporting or undocumented business rules.
The guide explains why insurers should define the future operating model before moving the
data- and how a joined-up approach to migration and servicing can reduce cost, complexity
and operational dependency
Assess your current operating model
The guide also includes a practical closed-book modernisation checklist covering:
• cost and operational effort
• legacy-system dependency
• servicing visibility and control
• migration readiness
• the target operating model
Use it to identify where pressure may be building and where further investigation may be
needed
• cost and operational effort
• legacy-system dependency
• servicing visibility and control
• migration readiness
• the target operating model
Use it to identify where pressure may be building and where further investigation may be
needed
Reduce closed-book cost and complexity
Download the guide to explore a more controlled approach to closed-book servicing and migration.
Download the guide
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