Project Kickoff Presentation Reinsurance Integration Meeting Agenda Project
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Project Kickoff Presentation Reinsurance Integration
Meeting Agenda • Project Objectives & Benefits • Project Scope • Assumptions, & Risks • Project Team Structure • Roles and Responsiblites • Key Project Milestones • Timeline • Communications Plan • Next Steps 2
Objectives & Benefits • Objectives : Create common optimized operational process and controls across ILI’s reinsured business by upgrading the existing two instances of the TAI Reinsurance system and integrating to a single instance of TAI. Net for the administration of reinsurance. This project will expand the system utilization by leveraging the TAI Reinsurance System’s Claim, Treaty Assignment, and Retention Management functionality. In addition, automating the administration of affiliate reinsurance on the TAI Reinsurance System, creating accounting feeds from TAI to ledger, and creating a Reinsurance data warehouse • Benefits ‐ Unification of reinsurance teams, enabling an optimized operating model ‐ Increase efficiency through a single process leveraging industry best practices, and increased utilization of system capabilities ‐ Reduce operational risk through increased automation ‐ Reduce data collection efforts and increase value added analytics ‐ Increased efficiencies and flexibility in the implementation of new treaties, which support GAAP and Statutory valuation. ‐ Improved scalability for a growing ceded inforce ‐ Addresses key person dependencies within Reinsurance Operations and Model Maintenance functions ‐ Reduced dependencies on PFMC 3
Scope • The project consists of two parts, Business process Workflow and Technical Development and includes the following Workstreams – Claims Process (Gather requirements and TAI Implementation) – Retention Management and Treaty Assignment – TAI. Net ITT (Hartford Block Upgrade – Legacy Pru (ITT) TAI Mainframe Upgrade – Streamline Accounting for Pru and Hartford in TAI – Buildout and Automation of GUL Affiliate Reinsurance in TAI – Buildout and Implementation of Magnastar block on TAI – Integration of coinsured affiliate block on TAI – Consolidate Legacy Pru and Hartford TAI systems into one instance – Integrate Policy Administration and other Feeds – Build Reinsurance Data Warehouse 4
Assumptions & Risks • Assumptions – – – Funding as been secured for the project Key resources have been identified High Level timeline and dates have been established High level Project Plan drafted with initial requirements Project risks should be constantly analyzed and countermeasures taken The project deliverables are formally accepted by the client Roles, responsibilities and authorities are clearly defined and communicated Project staffing commitments are kept The project manager bears responsibility for project implementation Decision, escalation and other communication routes are defined and observed The project team receives considerable decision-making power for business decisions • Known Key Risks 5
Project Team Structure Executive Sponsor Art Wallace Steering Committee Project Owner Sharon Brody James Burrows Gennadiy Belenkiy Program Lead (Technical) Program Lead (Business) Program Management Office Program Lead (Functional) Ravi Motwani Michael Williams Stephen Wysocki John Mc. Garry PMO Contact Wesley Yu Brittainy Jones (Logiq 3) Vikas Navani TBD PMO Contact Andrew Zitt (TAI) Brian Wilkinson Tom Freitas Lead Initiative Work-streams Claims Retention Mgmt & Treaty Assignment Affiliate Reinsurance Magnastar TAI Upgrade & Customization Consolidation Initiative Lead Joanne Herron (Unaffiliated Hartford) Kevin Loschl (Affiliated Pru) Vincent Ferreri (Unaffiliated Pru) Brittainy Jones (Logiq 3) William Acompora TBD Ravi Motwani TBD Brittainy Jones (Logiq 3) PMO Contact/SME Amalia Figueiras Laura D‘Andrea Davon Stedje Nichole Lehne Ann Klockeman Angela Provost Kevin Loschl William Acompora Vu Ngugyen Holly Bettis (logiq 3) Mindy Epstein (Logiq 3) TBD Wesley Yu Ed Mc. Closkey (TAI) Wesley Yu 6
Roles and Responsibilities Roles within the Program structure will have key responsibilities to ensure Program Scope is delivered within agreed timelines. Role Executive Sponsor / Steering Committee Responsibilities § Champion and represent the Program objectives with stakeholders across the enterprise § Drive alignment with corporate strategy and other enterprise programs § Communicate key Program change impacts, outcomes, and successes to external enterprise stakeholders Project Owner § Responsible for development and maintenance of project vision and its goals, serves as a highest escalation and decision making authority § To be informed on the project status by Project Management Group on a regular basis Project Owner § § PMO Workstream Lead And SMEs Oversee the delivery of the portfolio of initiatives under the Program Facilitate resolution of risks and issues and identify opportunities for the Program Support the Operating Committee and leadership discussions; drive the agenda for key meetings Distribute program-wide materials and archive all final documents § Project Management Office has the overall responsibility for the successful planning, execution, monitoring, controlling and closure of a project. § Synthesize and report status § Maintain PMO tools (e. g. , RAID log, deliverable tracker, etc. ) § Workstream Leads and/or SME’s responsibility is to coordinate work within the work stream and to work with the PM Group in overall planning, risk analysis, resource requirements and assist in escalation Process. § They are responsible for ensuring the work assigned to their work stream is being accomplished and for regularly reporting to the PM Group on activities performed (progress and status reports, issues, etc. ) or to be performed (plans, estimates, etc. ) within the project § SMEs should provide copies of all pertinent documents 7
Key Project Milestones - Project and Initial Workstream Kick-off - Claims Process Design and Requirements - Upgrade the ITT TAI. NET 2. 31 to TAI. NET 3. 40 - Hartford Block Customization - Retention Management and Treaty Assignments - Unaffiliate and Affiliate Reinsurance Accounting and Reporting - Upgrade PRU mainframe TAI 3. 00 to TAI. NET 3. 40 - Legacy Prudential Block Customization - Consolidation and Standardization of Reinsurance Platforms across both blocks - Feed Consolidation and Automation - Consolidate ITT and PRU TAI systems installations into one Production System 8
Timeline 7/1/2018 ‐ 11 /30 /2018 Feed & Platform Consolidation Specifications Reporting Specifications 10 /1/2017 ‐ 7/1/2018 Retention Management Specifications Affiliate Reinsurance Workflow & Specifications 8/1/2017 ‐ 3/31 /2018 Claims Workflow & Specifications 8/1/2017 10 /1/2017 1/1/2018 9/1/2017 ‐ 2/28 /2018. NET (Hartford Block ) TAI Upgrade 4/1/2018 7/1/2018 10 /1/2018 2/28 /2018 ‐ 6/2/2018 Hartford Block Claims Module GUL Block Accounting 11 /1/2017 ‐ 7/1/2018 Mainframe (Legacy Pru ) TAI Upgrade 1/31 /2019 10 /31 /2018 ‐ 1/31 /2019 Reins Admin Platform Consolidation Feed Consolidation 7/1/2018 ‐ 10 /31 /2018 Legacy Pru Block Retention Management /Treaty Assignment Claims Module Affiliate Reinsurance Build Accounting 9 1/1/2019
Communication Plan Mechanism Purpose/Content Project Kickoff Presentation An official kickoff of the project done via a presentation using the Project Kickoff Template. Retained Core Team Meetings Working Group Meetings (TAI, Logiq 3) Project Status Reports Meeting Agendas and Minutes Work Stream SME Meetings Review status, including overdue and upcoming tasks. Resolve issues and make decisions. Assess resources and workload. Meeting with Working group and vendor SME to discuss work in progress/ recently completed/Coming up High‐level update of project status, issues, risks, milestones and health using a standard template. Records the meeting logistics and topics prior to the meeting and the discussions and decisions made during the meeting. Retained with project documentation. Discovery Meetings to gain knowledge from SMEs on current process inputs, outputs and downstream dependencies. Project Sponsor Updates Update the Sponsor on project progress. Audience Frequency Responsible Sponsor, Program Owner, Program Manager, Key Stakeholders, Project Owner, Team Members Project Team Leads Once at the beginning of the project Project Manager Weekly or as necessary Project Manager Project team members aligned to the topic Bi‐Weekly/Weekly depending on the project stage Project Manager/Program leads Program Owner, Program Leads, Project Manager Monthly Project Manager Meeting attendees Post Core Team Status meeting and other meetings as applicable Project Manager Stakeholders As needed Project Manager/Program Lead Project Sponsor, Project Manager Biweekly or monthly Project Owner 10
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