Legacy and Mainframe Migration: An Insurance Imperative
AbstractNew York, NY, USA May 15, 2006
Insurance carriers have struggled to meet modern demands with legacy systems for over a decade. However, replacing those legacy systems is still a second choice to wrap-and-extend strategies.
In a new report, , Celent examines the challenges of using legacy systems, how carriers have addressed them, and carriers' plans for dealing with legacy systems in the future.
The report examines migration to modern systems from both legacy hardware and software and the new technologies that have made it easier than ever to migrate to modern systems including: service-oriented architecture, Web services, EAI, BRE/BPM, legacy migration tools, virtualization/grid/utility computing, and 64-bit or dual core commodity hardware.
However, some of these same technologies are making it easier to revitalize legacy systems, further slowing the pace of change in the industry. SOA, Web services, and other technologies are making it increasingly more plausible to extend legacy applications yet again.
"Wrapping and extending legacy systems is not a strategy that's going to become unpopular anytime soon," said Chad Hersh, a senior analyst in Celent's insurance practice and author of the report. "What carriers need to realize is that to some extent they're mortgaging their futures by using technologies that carry a higher total cost of ownership in the long term."
The report includes survey data from 39 carriers that cover a range of topics regarding legacy usage and strategies.
The 29-page report contains 1 table and 11 figures.
A table of contents is available online.
Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].
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Table of ContentsNew York, NY, USA May 15, 2006
|The Love/Hate Relationship Between Insurance and Technology||6|
|The Technology Case For Migration||7|
|The Business Case For Migration||12|
|Building The Business Case: The ROI Of Migration||15|
|The Current State||17|
|The Future Of Legacy And Mainframes||21|
|Why - And What- Now||26|
|Objectivity And Methodology||28|