Background 

A major Retirement Plan Provider/Administrator was replacing a large annuities legacy system with a new commercial-off-the-shelf solution that required considerable customization.  The project is an $80M, multi-year corporate initiative involving the re-platforming of an Annuity Request Capture & Payment System, a critical component in the annuity payment process, which hundreds of thousands of retirees (payees) rely on for income payments.

Problem 

The Client had reached the requirements phase but was struggling to find project managers, business analysts and Subject Matter Experts (9 resources in total) with the necessary annuities experience required to solicit, capture, validate and manage the complex set of requirements associated with the new system.

The Client’s standard staff augmentation vendors were not meeting Client expectations as they did not have the necessary knowledge or network to source these types of candidates.

Solution 

The Client asked SynergisticIT to assist with this need.   SynergisticIT designed a staffing plan and within 6 weeks SynergisticIT had staffed the project with 3 project managers (including the lead PM), 4 business analysts and 2 Business Subject Matter Experts all with the required annuities experience.

Results

The SynergisticIT Team provided an immediate positive impact.  Our leadership team was entrusted by IT and the Business to take ownership of multiple delayed project workstreams.  By working collaboratively with IT and the Business stakeholders, we were able to bring the project back on track in 4 months.

SynergisticIT was widely credited with remediating the project and today the system is on its way to replacing the aging legacy application.

If you are an insurance company and you need Annuities or Life Insurance experts, call us today at 732-379-4140 (or email us at info@synergistic-it.com) and ask to speak to one of the Managing Partners.  We would be happy to help you.