migrateFINIUM as a Solution for the Insurance Industry

Our Data Migration Methodology

With data migration, several key data flow elements are involved in the process. These elements help in the smooth transfer of data from one system or environment to another.

Requirements Gathering and Mapping:

We begin by thoroughly understanding your specific requirements and mapping out a comprehensive data migration plan using migrateFINIUM. This involves identifying data sources, defining data relationships, and leveraging the platform’s capabilities to understand the structure of the target system.

Data Extraction:

Once the requirements are defined, our expert team proceeds with extracting the data from your source systems using dataFINIUM’sextraction functionalities. We utilise efficient extraction techniques that minimise disruptions to your business operations, ensuring a seamless transfer of data.

Data Concealment/Obfuscation:

To protect sensitive data during the migration process, dataFINIUM offers built-in data concealment or obfuscation techniques. This ensures that personally identifiable information (PII) and other confidential data remain protected throughout the migration process, ensuring compliance with privacy regulations. The Data Company is ISO27001 accredited, and we adhere fully to both the GDPR (UK) and POPIA (South Africa) privacy policies.

Data Transformation:

dataFINIUM’s robust transformation capabilities play a crucial role in aligning your source data with the requirements of the target system. Our team leverages dataFINIUM’s industry-leading tools and techniques to transform and cleanse the data, ensuring its integrity and quality.

Data Load:

With dataFINIUM’s data loading features, we carefully load the transformed data into the target system. The platform’s capabilities prioritise accuracy and validation, minimising the risk of data loss or corruption, and ensuring a seamless transition from your old system to the new platform.

Data Validation and Testing:

Data validation and testing are crucial elements in data migration. It involves verifying the accuracy, integrity, and completeness of the migrated data. We perform various tests to ensure that the data has been successfully migrated and is functioning as expected in the target system, including data reconciliations and balancing. This will ensure that the migrated data meets your expectations and complies with regulatory requirements.

Data Verification and Reconciliation:

After the data load and testing phase, data verification and reconciliation take place. This element involves comparing the migrated data with the source data to ensure consistency and identify any discrepancies or data loss during the migration process.

Reporting:

To provide transparency and facilitate decision-making, we offer comprehensive reporting on the migration process. Our reports include reconciliations, balancing, and other metrics that enable you to assess the success of the migration. Reports will be presented through our composable development system, infoFINIUM.

Project and Programme Management

In the context of data migration methodology flow, the last step of Project & Programme Management involves overseeing the overall management and coordination of the data migration project and its associated programs. This step focuses on ensuring that the project is executed efficiently and effectively, adhering to predefined timelines, budgetary constraints, and quality standards. It involves activities such as resource allocation, risk management, stakeholder communication, progress tracking, and milestone achievement. Project and Programme Management plays a crucial role in ensuring successful data migration by providing the necessary governance and direction throughout the entire migration process.