Change and Transformation in the Private Sector
In December 2017, Legal & General (L&G) announced the sale of its Mature Savings division to ReAssure in a £650 million deal. The sale comprised of over 6 million customer policies, £30 billion in financial assets, over 500 staff impacted and billions of other relevant data items such as emails and documents.
At the commencement of the programme to deliver the migration, L&G turned to Aveas Consulting to lead the Information Technology separation project stream and act as the IT integration partner.
The programme had two major constraints of which, only one was known at the outset. Both had a major impact of the work performed by Aveas Consulting. They were:
- The sale was governed by the legal requirements of what is known as Section VII of the UK and European legislation within the Financial Services & Markets Act 2000. This required the appointment of an independent assessor to ensure the sale was compliant with the legislation and to present to a High Court Judge for approval.
- The second constraint was Covid-19 for which the impact no one could have foreseen, it meant several months of delay for the programme. Resources across 14 separate organisations were now required to work from home spread across multiple continents representing a considerable challenge on communications and reporting. Differing time zones created their own challenge with at times, a 7×24 global working pattern.
With a significant demographic of elderly people reliant upon these policies for payments during a global pandemic, global markets affecting policy values, and the economy coming under sustained pressure, that critical measure of success could not have held more importance for L&G, ReAssure and ourselves.
Aveas fulfilled the role of ‘IT Integration Partner’ on behalf of L&G for the delivery of all IT objectives including the development of the Business and IT Separation Strategy and execution. We held accountability for managing and controlling over half of the overall multi-million programme budget.
We developed the IT separation and data migration strategy and led the migration project which included coordinating resources and plans from multiple L&G business functions, Reassure and 14 suppliers. Planning spanned 42 months, with 26 testing cycles and 5 dress rehearsals to move 9 billion rows of data, held in over 100 differing applications. Strict regulatory and legal requirements had to be planned for and met.
The extraction and transfer took just 16 hours for Reassure to receive all 9 billion rows of active data and ready for customer service. The programme proved to be one of the most successful and complex systems migrations seen in recent years with zero impact to the integrity of the customer data.
Aveas ensured the successful migration between two businesses of all customer policies and data on a previously unprecedented scale. We were able to demonstrate that smaller consultancies can be trusted to deliver ground-breaking programmes of massive scale, focusing on close client collaboration and their customers.
View the Aveas Partners profile in the MCA Members Directory.