The insurance industry’s challenges have increased manifold, competition is cut-throat, and pressure on margins is unrelenting. On one hand, multiple mergers and acquisitions have given rise to a plethora of systems and processes serving similar purposes. On the other hand, the emergence of new disruptive technologies, such as Cloud, Mobility, and Big Data, has ceded the market to the caprices of the end customer. To support this business change, the underlying IT landscape is also undergoing a rapid transformation. The legacy landscape in particular is rapidly changing, as these platforms are inherently constrained and unable to support their business goals.

Legacy modernization can be accomplished using different solution approaches, such as re-building the entire solution from scratch, placing a wrapper solution on top of a legacy system, or replacing using a packaged solution from an IT vendor.