Choosing a Legacy Modernization Strategy

Create a vendor selection project & run comparison reports
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
14 April 2015
Donald Light

Abstract

Modernizing a legacy system is one of the largest IT investments an insurer will make. How does an insurer choose the best way to do this?

This report describes the following four legacy modernization strategies:

  1. Replace with a commercial off the shelf (COTS) package.
  2. Replace with a completely rewritten system.
  3. Wrap and extend using rules, BPM, document management, portals, etc.
  4. Continuous improvement: annual planned improvements.

The report also provides a sequential set of knockout questions which insurers should ask and then answer as a first step in choosing a strategy.

“Celent recommends that other insurers follow a more sequential analysis: understanding their own kinds and levels of pain and benefits, answering the knockout questions, and analyzing the remaining strategic options in more detail,” says Donald Light, research director with Celent’s Insurance practice and author of the report.

Subscription required

Access to this content requires a Celent research subscription.

Subscribers should sign in to access this research.

Insight details

Content Type
Reports
Focus
Industry Trends, Innovation & Emerging Technology, Technology trends, Vendor landscape