NTUC Income, one of Singapore’s largest insurers, has over 1.8 million policy holders with total assets of S$21.3 billion. Up until a few years ago, Income’s insurance process was very tedious and paper-based. In all, paper policies comprising 45 million documents were stored in over 16,000 cartons at three warehouses. Whenever a document is needed to be retrieved, it would take about two days to locate and ship it by courier. Refilling would again take about two days. Despite periodic investments to upgrade the HP 3000 mainframe that hosted the core insurance applications as well as the accounting and management information system, it still frequently broke down. When it broke down, work would stop and the staff would choose either data reconciliation or backup, which was costly and time-consuming.
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