Medibank expects its new core policy management system, Project DelPHI, to be fully operational by 2017 despite initial implementation issues, the health insurer’s chief executive, Craig Drummond said today. During Medibank’s yearly results announcement this morning, Drummond said the organisation needs to be easier to deal with and the new core system will be key to improving the customer experience. “While Medibank has paid $5.1 billion in claims this year on behalf of our customers, some challenges remain with the value we offer to our customers. What is clear is that we need to put our customers at the centre of everything we do,” he said on Friday morning. Last month, the insurer said a ‘reporting issue’ related to the technology upgrade would prevent it from providing annual tax statements to the majority of its customers by July 15. Drummond said at the time that the issue was the result of a customer data migration and apologised. Project DelPHI, which has been led by IBM, involves replacing the insurer’s customer policy, premium and product management systems with one integrated software suite. The insurer is also decommissioning its legacy mainframe, improving data warehouse and BI systems, and upgrading its digital sale and service systems. Medibank report net profit after tax of $417.6 million, up 46.4 per cent from $285.3 in FY15. This was primarily due to the improved operating profit of its health insurance business. Drummond said lower than expected growth this year in hospital utilisation rates across the industry had contributed to the growth in profit but revenue growth remained soft due to the under performance of the Medibank brand and a slowing market. Follow CIO Australia on Twitter and Like us on Facebook… Twitter: @CIO_Australia, Facebook: CIO Australia, or take part in the CIO conversation on LinkedIn: CIO Australia Follow Byron Connolly on Twitter: @ByronConnolly Related content brandpost Sponsored by Freshworks When your AI chatbots mess up AI ‘hallucinations’ present significant business risks, but new types of guardrails can keep them from doing serious damage By Paul Gillin Dec 08, 2023 4 mins Generative AI brandpost Sponsored by Dell New research: How IT leaders drive business benefits by accelerating device refresh strategies Security leaders have particular concerns that older devices are more vulnerable to increasingly sophisticated cyber attacks. By Laura McEwan Dec 08, 2023 3 mins Infrastructure Management case study Toyota transforms IT service desk with gen AI To help promote insourcing and quality control, Toyota Motor North America is leveraging generative AI for HR and IT service desk requests. By Thor Olavsrud Dec 08, 2023 7 mins Employee Experience Employee Experience Employee Experience feature CSM certification: Costs, requirements, and all you need to know The Certified ScrumMaster (CSM) certification sets the standard for establishing Scrum theory, developing practical applications and rules, and leading teams and stakeholders through the development process. By Moira Alexander Dec 08, 2023 8 mins Certifications IT Skills Project Management Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe