Dufrain, the data consultancy, has launched FlightPath, a customisable technical solution designed to speed up and simplify the data migration process without sacrificing quality.
It allows insurers’ data migration programmes to support with activity directly impacting business growth, including mergers and acquisitions, and digital transformation initiatives. The sooner a business can leverage all available data during these processes by consolidating it all into one accurate source, the sooner it can drive growth and optimise costs. It follows that the more efficient and effective the data migration is, the more likely a business is to reach these goals.
With the insurers, brokers and providers particularly reliant on heavily siloed data and M&A activity in the sector gathering pace, having reliable tech to speed up the process without compromising on the quality of the data itself is invaluable. FlightPath was designed with this in mind.
The launch comes at a critical time. According to analysis by Forbes, only 36% of data migration projects keep to budget and only 46% are delivered on deadline. In 2022, Statista forecasts that global spending on digital transformation will reach $1.8 trillion. Without a robust solution to accelerate data migration, insurance businesses risk going over budget or discovering that their digital transformation plans are running behind schedule.
Joseph George, Managing Director at Dufrain, comments:
“When the pandemic hit, many firms accelerated digital transformation plans to enable efficient, effective home working by migrating their business’s data from legacy systems to the cloud. The problem is the average data migration programme is slow, expensive, and hampers agility. Many businesses struggle with an inefficient process that is weighed down by high technical resource costs.
Using proven data migration techniques and governance, FlightPath streamlines the process and slashes migration expenditure by at least £10,000s for each data source that is transferred to a new location. It is a robust and flexible product, capable of connecting to any API or data source. It is also built on open-source enterprise technology, meaning it can be hosted by Dufrain, or in-house.
The product works out of the box, immediately providing logging, auditing, and unstructured data management services that facilitate a cost-effective migration process from end to end, whilst also providing ironclad security protection.
Joseph George adds:
“What businesses need is an accessible tool for controlling data migration from end to end. By reducing the technical resource and making it cheaper to move data from an original source to a new location, FlightPath allows companies to take control of their data and improve their capacity to deliver smooth mergers and timely acquisitions.”