Discover which steps you should take as an insurer to smartly solve the problems with legacy.
Rigid, outdated back office systems can make life difficult for innovators in the insurance world. What’s more, such systems are expensive and the knowledge to maintain these old systems is slowly but surely dying out. This so-called legacy is rightly regarded as a many-headed monster. Even so, the problem is not unsolvable: every insurer deserves a flexible and efficient IT landscape without the nightmare of an entangled spaghetti of systems.
Anticipate the future and avoid legacy software problems
Rip & Replace is not the solution
It is a misconception that the nuclear option - phasing out and modernizing all legacy – is the only way to clear the path to greater agility . This big bang approach is often not feasible, if only because it requires a large one -off investment . It is better not to run with the pack when it comes to legacy and, above all, to first make a good inventory of exactly what legacy – and the legacy problem – is within your own organization . This is important because legacy can also have some advantages to offer, and often comprises some quite reliable and stable systems .