LG CNS Finance

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Case Study

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LIG Insurance Next Generation System Insurance

Project Overview

Following up the prior IT projects completed by LG CNS, LIG Insurance needed to undertake an IT project to address their business needs. In order to meet the project requirements, such as project process management factoring in critical path of each area; and interfacing between new and existing systems, the company chose LG CNS as their partner to secure project continuity.

- Project Period: December 2007 – August 2009 (22 months)

Customer

LIG Insurance is one of the leading property insurance providers in Korea, specializing in auto, fire and marine insurance with No. 4 market share.

- Financial Subsidiary of LIG Group
- No. of Employees: Over 3,000
- No. of Branches: Over 350
- No. of Financial Planners: Over 23,000
- Total Assets: 13 trillion KRW
- No. of Contracts: 9.75 million
- Founded in 1959 as Pan Korea Marine Insurance (Changed the company name to LIG Insurance in 2006 )
- Acquired Credit rating of A- (Excellent) from A.M.BEST (US) for 3 straight years
- Received the 2009 Korea IT Innovation Awards (Minister of Knowledge and Economy Prize)

Customer Needs

Key Project Features :
Following the prior projects (Modeling project from November 2006 to June 2007 and Pilot project from July to November 2007), this project entailed implementation of ERP system integration, comprised of implementation of mainframe core system, data conversion and system architecture implementation.

Project Detail:
ERP system implementation comprise of 3 project areas: mainframe core system, interfacing and partial modification and architecture/general support including data conversion and system architecture

Mainframe Core System
- Product, contract, customer, sales (individual and corporate), finance, loan, etc.
- System Common: Common components for organization, privilege, integrated UI, etc.

Interfacing and Partial Modification
- Implementation of Information System
- Establishment of channel system and call center system
- Integration of other AS-IS systems: Mainframe, business support, channel and enterprise management systems

Architecture/General Support
- Base architecture, solution, infrastructure, etc.
- Data conversion and testing
- Project management and training

Solution and systems

Fully utilizing the knowledge asset built from our experience in large scale finance IT projects, LG CNS completed the project earlier than scheduled by optimizing development productivity. Also we have established a stable and flexible IT infrastructure of high performance and scalability.

Application System
- Secured application reusability with the SOA model
- Implemented X-Internet based terminal system
- Implemented integrated certification system based on integrated UI and SSO
- Implemented enterprise wide interface incorporating internal and external interfacing standards
- Standardized business rules and data items with Product Factory
- Maximized customer service by implementing customer-centric business process
- Implemented enterprise wide integrated data model
- Implemented user-centric analytics applications
- Established metadata management system by enterprise wide data standardization and data policy

S/W Architecture
- Secured service reusability down to service level with SOA based S/W architecture
- Established standard and consistent interfacing system with solution based on ESB
- Systemization of business rule and process management utilizing BPMS & RBMS
- Secured development productivity and ease of maintenance utilizing Application Framework

Results

With the next generation system, LIG Insurance has been able to provide customer service of greater quality, enjoyed system stability and efficiency and increase user convenience, resulting in improved brand image. The system also helped the company increase overall IT investment ROI and reduce investment costs.

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