ivari Modernizes Life Insurance Systems, Cuts Costs by 22% with DXC and AWS
ivari, a Toronto-based life insurer, has successfully completed the initial phase of a multi-year digital transformation by migrating approximately 732,000 life insurance policies to the DXC Assure Platform, leveraging cloud services from Amazon Web Services (AWS). This migration is part of ivari's broader strategy to modernize core systems, enhance digital capabilities, improve operational efficiency, and enable scalability for future growth. The transition was carried out without disrupting business operations, showcasing the robustness of the cloud-native platform. As a result of the migration, ivari has achieved a 22 percent reduction in operating costs during the transition period. Since going live on the new system, ivari has also launched four new insurance products, indicating increased agility in product innovation. The modernization involved moving from the legacy Ingenium policy administration system to a more flexible and scalable environment managed by DXC Technology, ivari's long-term partner providing Business Process Services since 2019. The platform supports ivari in managing nearly 65,000 new insurance applications per year and handling approximately $96 million in annual premiums. Additionally, DXC offers comprehensive services beyond policy administration, including new business processing, agency and distribution services, call center operations, claims support, and IT production services, illustrating a full-service outsourcing model. The continuous collaboration between ivari, DXC, and AWS aims to simplify the insurer's technology architecture and improve access to business-critical data. Future phases of the transformation include further system conversions replacing legacy frameworks with DXC standard offerings to reduce complexity and support expansion in products and services. This approach reflects industry trends emphasizing cloud adoption, system modernization, and the use of technology partnerships to drive cost savings and operational agility. This case highlights a significant shift in the life insurance market where carriers prioritize digital transformation to meet evolving business demands. ivari’s experience demonstrates the operational resilience of cloud-native platforms during live migrations and the strategic benefits of combining legacy system modernization with cloud technologies and business process outsourcing. These efforts align with broader insurance industry objectives of improving service delivery, compliance readiness, and competitive positioning through enhanced technology infrastructure.