Pensions

Skandia moves to one platform with Hopp

Customer
Skandia
Sector
Pensions
Country
Sweden
Partner
Direct with Hopp
The project
Moving many in-house pension, product and client systems onto one unified platform; the proof of concept was done in under four weeks.

Skandia, offering insurance, pensions, savings and investments to individuals and businesses, is moving from many in-house product systems to one unified platform, with Hopp.

Challenge

For thirty years, Skandia ran its pension fund management on in-house applications covering client management, products, administration and legislative compliance. In 2022 it decided to move from these bespoke systems to a new, unified system. The key challenges:

  • Function transition. Moving the client database, products, administration and other functions from the in-house applications to the new system.
  • Transition decisions. Managing the implications of moving from many bespoke systems to one.
  • Using the new system well. Making sure the new system streamlines operations, improves efficiency and supports compliance.
  • Risk and compliance. A smooth transition that limits risk and stays compliant during and after the migration.
  • Member experience. Keeping or improving the experience for pension scheme members.
  • Financial data. Integrating complex financial data from payroll, HR and accounting systems so financial records stay accurate.

Process

Skandia started with a proof of concept on a straightforward, replicable data set. It was completed, including the report, in under four weeks. With Hopp, the team:

  • Specified inputs, outputs and rules for transforming the product data.
  • Generated the migration code and ran it under control.
  • Assessed the results and investigated any anomalies themselves.

Outcome

The program spans many business and product areas over several years, and Hopp lets Skandia move forward with consistency and speed.

  • The proof of concept led to a multi-year license for the migration to the new system.
  • The first product data migration test started in January 2023.
  • Skandia plans a series of sequential migrations with Hopp, able to run concurrent tracks.
  • A Hopp software update during the migration went through without issues.
  • Agile, code-generated data transformation reduces time and risk.
  • The platform scales to the legacy migrations still to come.

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