DALLAS, Sept. 29, 2016 /PRNewswire/ - Universal Conversion Technologies II, L.P., (UCT), a subsidiary of EquiSoft, is now offering its proprietary Data Conversion Architect toolset (DCA) as a licensed product to help Life and Annuity insurance carriers, vendors, and system integrators successfully run their data migration projects.
The result of more than 25 years of continuous development and significant R&D investments, DCA is a powerful and nimble web-based collaboration toolset with a number of critical features and components that automate the development, testing and reporting phases of a conversion system development lifecycle. Over the years, this comprehensive package of software and tools has been optimized to plan and perform any type of data migration project, from data analysis, scrubbing, and cleanup to mapping, file conversion, balancing, and reconciliation.
A cost-effective and risk-reducing end-to-end solution
"The unique capabilities offered by the Data Conversion Architect code generation allow licensees to greatly increase conversion accuracy, achieve project goals on time, and dramatically decrease technical support staff, said Dan O'Hara, CEO and founder of UCT; DCA takes data migration off the critical path."
DCA performs the data conversion so that no customer data is loaded into the tool. Its role is rather to facilitate the creation of a separate conversion system. This system is typically executed in a secure zone within the customer's own infrastructure. Once the connection between the source and target systems has been established, DCA keeps data within the internal system, thereby ensuring that data security is not compromised.
"A data migration project should be seen as a business issue rather than a technical issue, said Rae Albertini, President of UCT. Our unique technology puts our client's business experts in control to drive the data conversion process. And because we've had such an impressive track-record using this tool as our flagship, DCA is now recognized on the market as a proven, cost-effective toolset that can dramatically reduce the effort and risk associated to any system migration."
Data cleansing and documentation advantages
One of the main challenges and risk factors associated with data conversion is cleansing the data, especially when dealing with older legacy systems. DCA automates a significant portion of the work while generating many validations to detect industry-specific anomalies, flag any inconsistencies, and allow the analyst to write all the exceptions to handle incorrect data. This means that data can be transformed and cleansed before being converted, thereby reducing timeframes and conversion costs by an estimated 40-60%. DCA also generates thorough conversion documentation and produces detailed artifacts for the conversion team and their constituencies – a huge advantage compared to other tools.
A flexible offering for a variety of industries
The tool can be licensed to insurers, system vendors or system integrators under a variety of packaging options that include training and multiple levels of resource support, and under flexible cost structures based on various metrics to fit any business model. DCA has been a key to UCT's success on hundreds of data migration projects for Life & Annuity insurance companies and policy administration system vendors across North America, but it can also be used in any industry facing complex data migration challenges: Health, Property & Casualty, financial institutions, governments, and more.
About Universal Conversion Technologies (UCT)
Recognized as the only North American company dedicated to life insurance data migration, UCT has specialized in high volume, complex data conversion projects that frequently involve multiple source and target systems since 1992. With its unique industry-specific expertise, UCT is a one-stop partner and solution provider for data analysis and auditing, data cleansing, conversion, balancing and reporting. Since 2016, the firm also offers its advanced proprietary data conversion toolset (DCA) under licensing agreements. Having successfully completed over 200 migration projects for hundreds of insurance companies and policy admin vendors, UCT has developed a unique expertise, methodology and technology stack that dramatically reduces the costs and risks associated with data migration projects.
About EquiSoft Inc.
Founded in 1994, EquiSoft offers innovative business solutions to its clients in the insurance and wealth management industries to support their growth by taking advantage of new technologies. In addition to being an Oracle OIPA integration partner for more than 15 carriers globally, EquiSoft also develops and markets innovative front-end applications (InsuranceElements and WealthElements) recognized as having industry-leading user interface and state-of-the-art technology. To complete this unique offering, EquiSoft also brings extensive experience in data migration through its subsidiary, Universal Conversion Technologies (UCT). Recipient of the 2016 Outstanding Service Provider Award by Wealth Professionals, EquiSoft has a growing team of over 225 specialized resources based in Canada, the US, Latin America, South Africa and India.
SOURCE Universal Conversion Technologies