Scalable Divestitures Strategy Delivers Operational Excellence
Cornell Capital needed a Private Equity technology partner ready to hit the ground running — and manage a complex infrastructure and service delivery challenge for its newest portfolio investment, Talcott Resolution.
Industry: Life Insurance
Service: Divestitures
The Challenge
The entirety of Talcott Resolution’s complex back-office applications and infrastructure weren’t transferred as part of the acquisition.
The Solution
The teams collaborated to conduct strategic planning, cost-modeling, and infrastructure system design for current and future business growth.
The Results
Teams migrated, cloned, or implemented 78 core systems across the business, ensuring a scalable technology platform to support next-level performance.
Core Applications Migrated and Implemented
Month Timeline
Months Faster Than Similar Divestitures
Remote Workforce Deployed Over 1 Weekend
“The partnership with PIP was incredibly successful; they brought solid expertise and worked collaboratively and efficiently in the fast-paced manner we needed.”
Samir Srivastava
CIO | Talcott Resolution
A Smart Private Equity Investment.
A Digital Challenge.
Talcott Resolution, the former life insurance and annuities arm of The Hartford Financial Services Group, was acquired by Cornell Capital. As the premier risk partner for the life insurance industry, Talcott Resolution was positioned to evolve for a new era.
Yet none of the technology on which the firm built its success was being transferred with the transaction.
The question became how Talcott Resolution would stand-up and implement all aspects of IT for 600+ employees — as quickly as possible — to maintain operations and scale for future growth.
“PIP partnered with us to organize the overall separation program and helped conduct a third-party audit of the separation work by both Talcott Resolution and PIP. We found their experience valuable in building out solution RFPs and driving the scoring and selection process. The templates and prior implementation experience they brought to the mix was a valuable accelerator for the company.“
Samir Srivastava
CIO | Talcott Resolution
Solution Part 1: Accelerating Value Before Implementation
Moving at the speed Private Equity demands, PIP and Talcott Resolution started by assessing the current infrastructure and end goals, and creating a roadmap to scalable success.
Scope Identification
Working in collaboration, PIP and Talcott Resolution identified the necessary resources and experience needed to complete the divestiture.
Strategic Planning
The teams conducted strategic planning, including scenario analyses and cost-modeling, to assess which systems needed to be replaced, redesigned, or migrated.
Pragmatic Approach
By segmenting what was necessary, what was useful, and what could be done without, our teams identified a roadmap leading to the greatest value creation and sustainable growth.
“Given the greenfield nature of our build and the hybrid-cloud architecture, this was a complex technical undertaking and PIP brought some very strong talent to help accelerate the build of our platform. This has created a strong, scalable foundation for our growth.”
Samir Srivastava
CIO | Talcott Resolution
Solution Part 2: Launching A Successful Project Execution
With a strategy in place, PIP and Talcott launched into part two: project execution.
System Selection
Identified the best-fit systems for every redesign or new application, selecting systems purposefully with pragmatism in mind.
Infrastructure Design
Architected the underlying infrastructure for 78 core applications and new builds to support daily operations and scalability for growth.
System Migration
Migrated predetermined infrastructure without disruption to operations of HR, accounting, risk management, legal, or operational – among others.
IT Systems Launch
Built out data centers, telecom systems, facilities, networks, end-user computing, and enterprise on-prem and cloud infrastructures.
Scalable Divestitures Strategy.
On Budget. In 20 Months.
Creating value at speed means joining strategy with implementation efficiently. PIP and Talcott Resolution successfully completed the IT overhaul and onboarded over 600 employees and contractors onto the new systems.
Not only did the project yield the completion of a complex carve-out and stand-up, but when the COVID-19 pandemic impacted business operations, Talcott Resolution deployed a fully remote workforce over one weekend with no operational impact.
Evaluate. Envision. Evolve With PIP.
Work with a Private Equity technology consultancy skilled at creating value.