Insurance companies are challenged by complex, inflexible, and often obsolete legacy IT systems. Besides being expensive to maintain, legacy systems adversely impact business. The erosion of competitive advantage is compounded by low to moderate premium growth, increasing burden of regulatory compliance and customer expectations. Modernization of IT infrastructure will remain an incomplete exercise without strong alignment between infrastructure modernization and modernization of the operational context. It should consider the long-term landscape of the industry, industry benchmarks, and enterprise strategy.
The Infosys Insurance Modernization solution leverages 25 years of modernization experience. It provides a comprehensive set of business and technology components to improve modernization planning and design, make a more robust case for change, increase the efficacy of the transition, and enhance business value derived from modernization.
- Increases the likelihood of funding approval and business support with a clear, strong case for change
- Improves the business value of your modernization initiative and the longevity of change through better-aligned business and technical architectures
- Reduces operational costs by optimizing processes and use of technologies
- Enhances product flexibility / speed-to-market due to improved underlying technology
- Ensures greater integration and interoperability
- Reduces overall modernization costs through efficient execution