Legacy Modernisation for UK InsurTech — FCA ICOBS Built In
ClickMasters provides Legacy Modernisation for UK InsurTech businesses with FCA ICOBS, FCA PS21/3 compliance from Sprint 1.
Key Highlights
Compliance
+3 more standards
Pricing
Legacy Modernisation for InsurTech — UK Specifics
InsurTech Legacy Platform Landscape
UK InsurTech legacy platforms commonly encountered: Guidewire (older versions — Java-based, UI modernisation needed), Duck Creek (older versions), OPUS (bespoke UK insurance administration platforms), Majesco legacy, and in-house built systems from 2000–2015 (often COBOL or early Java). FCA PS21/3 context: most InsurTech legacy systems have single points of failure — legacy modernisation is frequently driven by FCA operational resilience requirements rather than feature velocity alone.
FCA PS21/3 Legacy Mapping and Modernisation Strategy
Before modernising legacy InsurTech systems: FCA PS21/3 Important Business Service mapping. Steps: (1) identify IBSs (policy administration, claims handling, premium payment), (2) map each IBS to supporting legacy components, (3) identify single points of failure in legacy architecture, (4) prioritise modernisation by PS21/3 impact (components creating IBS resilience risk first). Legacy modernisation without PS21/3 mapping is dangerous — replacing the wrong component first can increase risk before reducing it.
Lloyd's Blueprint CDR Migration from Legacy
Lloyd's CDR migration: legacy InsurTech platforms were built before Lloyd's Digital Blueprint — CDR compliance requires structured risk placement data that legacy systems often cannot produce. Migration approach: (1) CDR data extraction from legacy (map legacy fields to CDR schema), (2) CDR validation service (validates extracted data against CDR JSON schema), (3) Lloyd's Risk Exchange API integration in new platform, (4) parallel running (old platform produces paper slips, new platform produces CDR — verify equivalence before cutover).
Solvency II UK Data Quality in Legacy Migration
Solvency II UK QRT accuracy depends on data quality in the source system. Legacy InsurTech systems often have: inconsistent premium coding (multiple coding schemes in different transaction types), incomplete claims data (partial settlements not linked to original policy), and missing reinsurance data (manual outward RI not captured). Legacy migration must include a data cleansing programme — Solvency II QRT accuracy in the new system is only as good as the quality of migrated data.
Compliance
FCA ICOBS
FCA PS21/3
Solvency II UK
PCI-DSS
UK GDPR
Lloyd's Blueprint
Cyber Essentials Plus
Compliance & Regulations
Every solution we build for this industry is designed to meet the following regulatory and standards requirements.
FCA ICOBS
FCA PS21/3
Solvency II UK
PCI-DSS
UK GDPR
Lloyd's Blueprint
Cyber Essentials Plus
Investment Options
Flexible engagement models tailored to your insurtech project requirements.
£35,000–£200,000
Full engagement
- Industry-specific approach
- UK GDPR compliant
- Dedicated technical lead
£3,500–£8,000
Scoping
- Industry-specific approach
- UK GDPR compliant
- Dedicated technical lead
from £2,000/mo
Ongoing support
- Industry-specific approach
- UK GDPR compliant
- Dedicated technical lead
What Our Clients Say
Success stories from clients in insurtech industry.
“ClickMasters transformed our digital infrastructure. Their understanding of UK fintech regulations saved us months of compliance work.”
Sarah Mitchell
CTO, FinTech Solutions Ltd
“The team's expertise in NHS integrations and DTAC compliance was invaluable. They delivered on time and within budget.”
Dr. James Cooper
Medical Director, HealthFirst UK
“Their grasp of FCA requirements and insurance sector nuances helped us launch our platform 40% faster than expected.”
Michael Brooks
CEO, InsureTech Pro
Frequently Asked Questions
Common questions about insurtech software development.
How long does InsurTech legacy modernisation take?
InsurTech legacy modernisation timeline: Technical Discovery and FCA PS21/3 mapping (4–6 weeks), architecture design (2–4 weeks), phased build — core policy administration module (12–20 weeks), claims module (8–14 weeks), Lloyd's CDR integration (4–8 weeks), Solvency II reporting (4–6 weeks), parallel running and cutover (4–8 weeks). Total: 36–60 weeks for a full InsurTech legacy modernisation. ClickMasters always conducts Technical Discovery (£3,500–£8,000 fixed price) before any commitment to timeline.
Can we modernise InsurTech systems without business disruption?
Yes — Strangler Fig pattern. New system receives all new policy business from Day 1. Legacy system manages run-off portfolio (existing policies to expiry). Gradual migration: renewing policies move to new system at each renewal date. Legacy decommissioned when last policy expires or renews onto new system. For Lloyd's placements: parallel CDR submission from new system — verified against legacy paper slip before legacy removed. Zero business disruption — no overnight cutover, no customer-facing change until ready.
Related insurtech Services
InsurTech Software Development UK — Specialist Builds for UK InsurTech Businesses
Custom Software Development for UK InsurTech Companies — FCA Built In
Mobile App Development for UK InsurTech — FCA Built In
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