CITS performs services largely in the life, health and annuity markets, including analysis of all plans and products to fully understand the required processing capabilities of the intended target system. This identifies potential required modifications to the target system before the data conversion can be performed.
These services are provided to develop a comprehensive and thorough roadmap to encompass the entirety of the envisioned project. All individual steps and processes are supported by timeframes, deliverables and required resources.
CITS strives to understand each product type and associated benefits from Term to Universal Life to ISWL and beyond. We analyze the pricing structure(s) in order to identify what capabilities must reside in the intended target system. This step greatly enhances an understanding of any gaps that need to be address before conversion can take place.
Once again, CITS delves into the details of the products, plans, riders and benefits to assess degree of fit and necessary functionality to support on-going daily processing in the future target system. This assists greatly in determining level of effort required for any necessary target system modifications.
Annuities pose a unique challenge because of the multiple variations from fixed to flexible to equity indexed to variable. Because of these, CITS pays particular attention to calculation details. While testing, we simulate the source system within the target system in order to validate exactness of calculated values. During this process we capture financial values from the source and compare those to the calculated values of the target system to guarantee the expected results are correct.
© Copyright 2020 CITS - Clearview Insurance Technology Solutions