Platform modernization is an increasing priority for insurers, particularly those tenure insurers that have a legacy portfolio of applications, and the reason for this is at a bare minimum, software and operating system currency is a real risk from an end of life as well as vulnerability implication. Making sure the applications are current from that base level is important for all insurers. Some of these insurance carriers go back 100 plus years and not and while their technology is not quite 100 years old, it’s pretty dated, so that’s a challenge. Mainframe and COBOL are still in play with some of these insurers and those are hard to move off of. It’s an interesting challenge to modernize on very, very old and very rigid tech stacks.
The Opportunity: Vast Customer Data
I think the opportunity, and what’s really interesting for insurers, is data. They happen to have a tremendous amount of information and data on their customers and that is a huge asset for them. The ability to get at that information and put it to productive use is what is a great opportunity for insurers. Not only to continue to offer great products and services to their customers but to innovate and move the industry forward in exciting ways; to bring new products, prices, services to their customers in a way that hasn’t been experienced before.
The Benefit: Agility and Innovation
One of the number one benefits of platform modernization from my perspective, especially for those insurers who are going to take a more progressive and perhaps aggressive approach on re-architecting and rewriting core business applications, is really to introduce more nimble and service-oriented architecture type models. This is so their business logic and their data can be increasingly accessible, not only for the need of that particular business function but for future needs that perhaps we can’t even think of now. The ability to get that business logic and more importantly data going forward is key for innovation.
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Removing the Stigma: Integrating AI
For all of the hype surrounding AI, some people still have a bit of anxiety about integrating it into their projects and processes. In this Tech in 2, Director of Solution Engineering Jackson Stakeman shares his AI integration tips for organizations that may still be hesitant about getting started with it.
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Advancing Tech Adoption in Transportation
In the transportation & logistics (T&L) industry, tech investments have traditionally been tied to compliance, but now, by utilizing their large amounts of data, T&L companies can do so much more. In this Tech in 2, Client Success Partner Chris McRae shares how he’s seeing T&L organizations use tech to automate workflows, gain deeper business insights and save money.
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CX vs. UX
When it comes to application development, typically a lot of budget is put into creating a great user experience (UX), but only thinking about UX and not CX (customer experience) can be detrimental to your brand loyalty. In this Tech in 2, Principal Consultant Joe Dallacqua shares his top tips for balancing CX and UX.
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Adaptation in Software Modernization
Traditionally, capital investments were very concrete (ie building a factory on the river because you needed water to power the mill), but nowadays in software development, things are easier to change. In this Tech in 2, Director of Solution Engineering Jackson Stakeman shares why adapting your strategies to accommodate for change is key and why you should employ the Wayne Gretzky method of skating to where the puck is going to be.