Transitioning from legacy to technological innovation at one of the country’s largest insurers

Objective acted as a strategic partner in the digital transformation of the life insurance and private pension system.

One of Objective’s clients stands out as a leader in the insurance market in Brazil, offering a wide range of services covering various branches of insurance. With an innovative vision and a commitment to excellence, it has been dedicated to developing solutions that not only meet but exceed the expectations of its customers.

To enhance its technological evolution journey, this insurer relied on Objective in developing a robust and scalable solution to evolve its Life and Private Pension Insurance sales and management platform. Below, discover how this partnership provided innovation and efficiency for the company’s development in recent years.

Challenges of legacy systems

In 2010, with systems operating on high platforms, this insurance sector company faced difficulties with maintenance, high operational costs, and limitations in implementing new functionalities. The operation of these systems on expensive mainframes not only increased costs but also prevented the company from adapting quickly to new market demands. Thus, it faced the challenge of modernizing its IT infrastructure to move away from the rigid and outdated legacy, agreeing with the idea and experience of Objective to unify life insurance and pension operations on the same system.

Technological innovation

To solve this challenge, Objective developed a new integrated system with modern and scalable technologies. With Java language and Oracle database, the new platform integrated life insurance and private pension products, offering support throughout the product lifecycle, from quotation to claim.

The migration of data from legacy systems to the new one was one of the main points of the project. For this, a framework specialized in data transformation and validation was developed, ensuring a safe and efficient transition. A dedicated team worked on migration, while another focused on developing new functionalities, ensuring that the new system was not only operational but also constantly evolving.

The new system developed by Objective covered more than 200 life insurance and private pension products. Additionally, it manages over 322,000 individual policies and handles approximately 7 billion reserves in its pension plans. These numbers illustrate the system’s capacity and also the expertise of Objective specialists in managing and sustaining this information efficiently and securely.

Results of digital transformation

The implementation of the system developed by Objective represented a significant advancement for this client, bringing benefits to the company’s operation. One of the main advantages was the reduction of infrastructure costs, back-office operations, and system development/maintenance, contributing to a more efficient and competitive cost structure, creating a solid foundation for the company to expand and improve its product offering.

The system’s modernization improved the customer experience, bringing greater accessibility and making processes such as claims management, underwriting, and payments more efficient, with a positive impact on customer satisfaction. Additionally, the new platform provided this insurer with the ability to respond more agilely to market trends and consumer needs, helping the company improve its product and service offerings and potentially increase its market share.

This modernization not only optimized internal operations but also strengthened the position of this Objective client in the insurance and private pension market, demonstrating how strategic investments in technology can lead to operational improvements and competitive advantages.

Is your company seeking technological innovation and in need of a partner with expertise in current methodologies and technologies, along with highly skilled professionals to address operational and business challenges? Talk to our experts and learn how to transform your organization for the post-digital market!