Finaref Selects CSC's GraphTalk A.I.A Administration System to Support Insurance Business Growth Strategy
Client: Finaref
Challenge: Increase product offerings by resuming control of insurance business from a partner company
Solution: Implement CSC’s GraphTalk A.I.A. with thorough planning and testing to ensure success within Finaref’s timeframe
Results: Converted 100,000 active contracts from third-party system, interfaced GraphTalk with Finaref’s IBM mainframe and more than a dozen other applications
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Finaref, the former financial services arm of Pinault-Printemps-Redoute (PPR), is now a subsidiary of the leading French banking group Crédit Agricole. Finaref decided to increase its insurance offering, and its growth strategy included implementing an administration system for new insurance business and for the existing contracts which were previously managed for Finaref by a partner insurance company.
Software and Expertise Help Meet Tight Schedule
Facing the need for a replacement system within 15 months, to handle both life and accident, and creditor insurance, Finaref wanted a service provider with high-performance software and in-depth insurance expertise. It selected CSC and its GraphTalk A.I.A administration system.
CSC consultants helped Finaref develop a project management structure to streamline introduction of the system, and the companies collaborated to prepare for the migration of contract files from the partner company. Rigorous testing, with more than 3,000 different acceptance scenarios, ensured smooth implementation — on time.
Full Control of Products and Contracts
GraphTalk A.I.A enables Finaref to embark on its business development plans, with full control over existing and future products and contracts. Real-time interfaces with other applications link insurance and credit activities.
David Atkinson, Deputy Insurance Manager, says: "GraphTalk A.I.A is a multilingual and multi-currency package which links easily to other systems. It fits our desire to develop a presence in other countries — particularly in Ireland, where we will be managing all of our creditor insurance business."