(Image credit: Adobe Stock.)
DXC Technology (Ashburn, Va.), a Fortune 500 global technology services provider, working closely with the London Market Joint Ventures (XIS and XCS), reports that it has successfully completed a major data center migration, a key milestone in the multi-year transformation of the world’s largest insurance market.
In what the vendor calls an important step in the insurance market’s journey to the cloud, the data center migration will enhance resilience, security, and agility, while laying the foundations for further digital transformation and continuous improvement. DXC reports that the initiative required critical input and coordination from several major organizations in the insurance world, including Lloyd’s of London, the International Underwriting Association (IUA), the Lloyd’s Market Association (LMA) and the London & International Insurance Brokers Association (LIIBA).
Over the course of a single weekend in February, DXC reports having moved over 70 billion rows of data, 700 IT assets, over 200 mission-critical business applications, and multiple database types onto a simplified and more advanced on-prem enterprise data center solution. A period of “hypercare” was successfully completed at the end of April, signaling the completion of the migration phase.
Over 500 global engineers and an extensive technology partner network collaborated on the migration, spanning three mission-critical environments: production, disaster recovery, and test service, according to a DXC statement.
As the world’s largest insurance center, the London insurance market represents 7.6 percent of the global commercial (re)insurance market, employs 47,000 people across the U.K., and makes up almost a quarter of the City of London’s GDP.
“Completing the data center migration has been an important confidence builder for the market and puts the technology stack on a much more resilient and better performing cloud-based infrastructure,” comments Bob James, Chief Operations Officer, Lloyd’s. “This, along with the delivery of two of the five sequences in the Blueprint Two plan moves us forward to a better, faster, and cheaper way of doing business in the Lloyd’s and London insurance market.”
“DXC is the trusted technology partner to the London insurance market, transforming it from a largely paper-based, analogue set of processes to a marketplace that is digital, efficient and data-first,” Chris Halbard, CEO, London Market Joint Ventures. “By completing this major milestone, we are taking an important step in the market’s digital transformation as part of our wider engagement with the Lloyd’s Blueprint Two program.”
“This complex program is the culmination of years of extensive planning between DXC, the Joint Ventures, representatives from market associations including the LMA and LIIBA, and our customers,” Andy Evans, Delivery Director, DXC Technology. “In our estimation, this is one of the most ambitious data center migrations in the world, and it’s a testament to the expertise of the teams that it has been completed successfully.”
Comprising shareholdings of DXC, the International Underwriting Association and Lloyd’s, the Joint Ventures have been providing Business Process Services (BPS) to the London insurance market for over 20 years, managing over 3.7M premium and claims submissions, and handling over 200M messages annually.
“The scale of this data migration is extraordinary and has required intensive collaboration between DXC, the Joint Ventures, and the companies of the London insurance market,” says Louise Day, Director of Operations, International Underwriting Association.
“This was a hugely important project led by DXC and Joint Venture teams. Meticulous planning, delivery execution, and exceptional collaboration with the customer community was the recipe for success,” Rob Myers, Operations Director, LMA.