EquiSoft has offered core integration services for life, annuity and health insurers and wealth management companies. EquiSoft is also a Specialized System Integrator for Oracle Insurance Policy Administration. Furthermore, EquiSoft develops and markets InsuranceElements and WealthElements, two front-end applications designed to help insurers differentiate their products through industry-leading illustration and financial needs analysis tools.
Since its inception in 1992, UCT has specialized in data migrations for life and annuity products. Since then, the company has successfully delivered hundreds of migration and consolidation projects employing a unique approach that combines highly skilled industry staff, a proven methodology and unique technology tools.
UCT’s unique data migration technology almost entirely eliminates the risks associated with data migrations and automatically generates the audit reporting needed before moving into production. UCT’s Data Conversion Architect is a comprehensive package of software and tools required to complete the data integration projects, from project planning, data analysis, data scrubbing and cleanup, mapping, data file conversion, to balancing and reconciliation. The system has been used to successfully migrate over 200 systems from over 50 different commercial and home grown systems for over 80 insurance companies. Over the years, UCT has optimized Data Conversion Architect to manage the most complex insurance products in the most complex environments. UCT’s Data Conversion Architect is also licensed to insurers to migrate or consolidate core systems, or to vendors for transformation projects.
While UCT will continue its focus on legacy system consolidation and core system transformation projects, their clients will now also benefit from EquiSoft’s complimentary integration skillsets. EquiSoft’s global offering will also provide stability and new markets to UCT. Also, EquiSoft’s expertise in wealth management solutions will open opportunities to use UCT expertise and technology in the banking and wealth management sectors.
"With the acquisition of UCT, EquiSoft will benefit from the expertise, methodology and technology of the only insurance-specialized data migration integrator in North America. Since the two organizations have already partnered on several conversion projects we know the teams share the same philosophy that the right project team composed of industry experts can reduce risks and costs and accelerate time to market" said Luis Romero, President and CEO of EquiSoft.
