Kanbay and Universal Conversion Technologies to Provide Data Conversion Solutions to the Insurance Industry
Alliance To Provide Cutting Edge Insurance Solutions
Chicago, March 16, 2004 - Kanbay Incorporated and Universal Conversion Technologies (UCT) formed an alliance to offer cutting edge system and data conversion solutions to the insurance industry globally.
Kanbay is a US-based global software solutions provider for the financial services sector, with a strong focus on the insurance industry, and UCT is a leading insurance systems data conversion company based in Addison, Texas. The rapid change in technology platforms and the impact of mergers and acquisitions have made it vital that insurance companies successfully convert policy data from their old systems to their primary Policy Administration System.
The joint service offering leverages Kanbay's extensive insurance industry experience and UCT's cutting edge data conversion software that has been successfully deployed at many major insurance carriers providing best-in-class solutions for our customers. The services offered shorten project timeframes, minimize risks due to incorrect data conversions, and reduce overall costs for insurance carriers.
The UCT data conversion tools reduce time and effort for insurance data conversions by 40 to 60 percent and have consistently provided a 99 percent plus policy conversion rate, while providing the lowest cost-per-policy conversions rate in the industry. The high data conversion success rate reduces the business risks associated with incorrect data, avoids post project clean up, and minimizes manual policy handling. Kanbay provides system integration and quality assurance services in conjunction with UCT to deliver a complete conversion solution. Kanbay bridges functional system differences through application enhancements, system interfaces, and reliability engineering.
About Kanbay
Founded in 1989, Kanbay is a global provider of information technology services and solutions focused on the financial services industry. Kanbay offers a broad suite of services, including business process and technology advice, software package selection and integration, application development, maintenance and support, network and system security and specialized services, through its global delivery model. Kanbay provides its services primarily to credit card issuers, commercial and retail lending institutions, securities and investment management firms and insurance companies. Kanbay is headquartered in Rosemont, Illinois. The company has offices in the U.S., Canada, U.K., Australia, Hong Kong, Japan, Singapore and India.
About Universal Conversion Technologies
Established in 1992, UCT is the recognized leader in providing data conversion software, services and methodology for the insurance industry. With hundreds of successful conversion projects completed, UCT boasts an extensive and impressive client list, including: MONY, Nationwide, Aegon, Allianz, Conseco, ING, Allstate, Swiss RE, GE Capital, Thrivent and more.
