Legacy Modernization For Insurance

We recognize that the key to modernizing legacy systems is retaining the business process knowledge and data embedded in the systems and simultaneously enabling those systems to work with new applications. We know that each business is different and that our approach to modernizing your legacy systems needs to be flexible.

Our Legacy Framework helps our clients to modernize their applications through a structured process, which reduces business risks and leverages the capabilities offered by newer technologies. The highlights of the framework include Mechanism to identify the right solution approach for the specific legacy application, Methodology to manage requirements and, Tools and templates to accelerate the modernization.

IT productivity and innovation go hand-in-hand. When developers are readily available for new projects, rather than assigned to costly ongoing maintenance, the door is open to new thinking. Modernizing legacy environments can reduce required maintenance time by over 50 per cent and greatly reduce the technological footprint. This helps IT departments to reduce costs accelerate development cycles and assign valuable and often-expensive resources to new initiatives that can enhance – rather than just maintain – company performance.

For many firms struggling with outdated legacy technologies, the question of whether they need to modernize their system easily answered. However, when it comes to modernization projects, it is crucial to get it right from the start to maximize subsequent benefits and opportunities. Functionality such as intranets, extra-nets, and data warehouses can more easily implemented on a modernized system, but newer functionality must initially take a back seat to basic modernization of the legacy systems that will support them – and the business – now and in the future.

As customers ask for more specialization, insurers need to change their processes and systems to deliver high performance. Health care insurers often believe that enterprise software package solutions are too costly and risky an approach for achieving the desired changes. As a result, many executives are looking for alternative long-term insurance solutions. Using our legacy modernization strategy services, insurers can reduce legacy system inefficiencies with the goal of reducing system costs. Legacy modernization requires less investment in time, money, and people than traditional alternatives. It allows you to reuse and extend the functionality of your existing systems and it provides a way to manage risk.

Legacy Modernization is a very effective alternative to enterprise package solutions for the core health care insurance business functions.

We offer services to maintain and support legacy systems and to help you to migrate from your legacy to future systems by modernizing your older solutions. We employ proven processes and methodologies to provide high quality maintenance and production support services so that you can be reassured that modernizing your legacy system will not cause unnecessary disruptions to your business operations.

The Legacy of the Childless – Who is Included in the Estate Plan?

While many families struggle with the issues relating to being fair verses being equal in relation to estate planning and their children, childless couples struggle with other important issues.

For those individuals or families, who by choice or by consequence have not had children, they have different issues and challenges, which require thought and deliberation.

These issues surround their legacy and include the planning of their estate. For example, should it just be taken for granted that other members of the family should inherit the bulk of the estate? How distant need these relationships be before consideration is given to other alternatives or to the inclusion of charitable intent?

While many extended families are close and relationships can be strong even over considerable distance, this is not always the case. For childless couples, some pressure may be felt to leave the results of a lifetime of work and effort to some very tenuous generational threads. If there is no real relationship, it is often more rewarding and more personal to consider the positive impact of creating a living legacy, through establishing a family foundation and beginning the work of the foundation straight away.

As in all these situations we advocate the use of dominant values as the core in coming to understand what is important to the individuals or to the couple. The development of these core values following the concept of a reflected life process will help identify the dominant issues and the critical benefactors of the legacy. If you know what is important and then who is important then the legacy becomes the transmission of what is important to who is important. This allows the foundation, as a legacy, to be considered and introduced during life and developed over time.

For example, if an individual feels it is important to pass on their family name and no children present then the legacy could be continued through using other identified values. For example if education is identified as another core value, then a family foundation could offer support by way of bursaries or scholarships under the family name, as seen in the Rhodes scholarships. This can be a very powerful tool for the transmission of a legacy.

Couples using this process may identify common values or interests that solidify their relationship. Their legacy could include creating a foundation for helping others following these values and interests. Often childless couples have groups of friends who are in similar situations and the development of causes supported by the foundation can be linked. The couples benefit tremendously and at the same time are engaged in the worthwhile interest of helping others. The roles of trustees for the foundation can be shared among the group and deeper stronger relationships develop.

It is important that where aging and deteriorating health could create potential problems that consideration be given to introducing other trustees or to corporate trustees. Foundations can exist for periods up to 80 years, which is longer than the life spans for most adult trustees.

While many charities are looking for large donors and while many individuals will want to make one big gesture, this is not the ideal situation for the development of a living legacy. The living legacy position is the active involvement in the development of the legacy during life and the growth and understanding which comes from personal involvement.

As well, the charity (if charitable intent is a part of the legacy) also gains an advocate interested and involved in the development of the work of the charity. The benefactor becomes an important contributor to the work, and someone who can and most likely will, influence many others over a period of time. For the charity, this is important strategically, one large donation and the funds are dispersed, while an ongoing relationship gives so much more potential to what can be achieved over the medium to long term.

A Stepfather’s Legacy

The greatest use of life is to spend it for something that will outlast it.

~ William James

We transfer our worldly possessions through a trust or last will and testament. We will also pass on our legacy regardless of whether it’s good or bad when we pass away. Like the fingerprints we leave behind, our legacy establishes we were here and impacted the world. The cavemen left us crude and colorful drawings of their most exciting hunts and exploits.

Early cultures left us significant literature and works of art, inventions and scientific discoveries. People with financial fortunes left behind large inheritances, endowments and charitable donations. Great leaders have their image on their countries’ currency and have ships and buildings named after them.

Our parents, relatives, friends, teachers and leaders also left us a legacy to follow. These people have influenced us for good and in some cases for bad. As stepfathers, we leave a legacy by being one – because we didn’t have to be, but our legacy must be more than in title only.

As the leader, within our households we are leaving footprints for those behind to follow. Our legacy must be to live well to leave our children with the values and character that will help them achieve greatness and personal fulfillment in their lives. While in your blended family you may feel at times like the invisible man what you do affects and influences others within your sphere of influence stepchildren included.

This responsibility makes it essential for us to leave a positive legacy. As men, we need to be purposeful about the legacy we leave. How we live is very important. My challenge to you is to think about the major areas of your life: family/home, spiritual, financial, career, physical health, and education where you can and should leave a lasting legacy.

Al Sanders, in his book Crisis in Morality, compares the descendants of two men who lived in the United States over 150 years ago.

  • Max Jukes was an atheist.
    • He did not believe in Christ or in Christian training.
    • He married an ungodly girl and refused to take his children to church, even when they asked to go.
    • At the time the book was written there were approximately 1200 descendants from this union. Of these,
      • 310 died as paupers,
      • 150 were criminals,
      • Seven were murderers,
      • 100 were drunkards, and
      • more than half of the women were prostitutes.
    • His 540 descendants cost the State one and a quarter million dollar

Jonathan Edwards lived at the same time as Max Jukes, but he married a godly woman.

He loved the Lord and saw that his children were in church every Sunday as he served the Lord to the best of his ability.

An investigation was made of 1,394 of his known descendants.

  • Thirteen of his offspring became college presidents,
  • 65 became college professors,
  • 100 lawyers,
  • 30 judges,
  • 60 physicians,
  • 76 army and navy officers,
  • 100 preachers and missionaries,
  • 60 authors of prominence,
  • Three United States Senators,
  • One Vice President of the United States,
  • 80 public officials in other capacities, and
  • 295 college graduates, among whom were governors of states and ministers to foreign countries.

His descendants did not cost the state a single penny.

As a stepfather, you can bless your children with greatness or further hurt their hearts and minds. What are you teaching others by your daily example? Where are your footprints leading? Leave footprints that will make your legacy a blessed one.

Solomon, the wisest king who ever lived wrote, “The memory of the just is blessed.”