Chola MS General Insurance Company Ltd.: Phoenix Digital Platform

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10 March 2021

Winner of the 2021 Celent Model Insurer Award for Legacy and Ecosystem Transformation


Many insurers cannot digitise their business because of legacy core insurance system limitations. Responding to specific product requirements quickly and marketing new products via online channels is often an unachievable goal if insurers are bound with old technology components. While going for a “big bang” approach and replacing legacy systems has long been a path insurers have used to fix this problem, can today’s technology offer other alternatives?

Chola MS’ choice to keep some legacy components, and focus its modernisation effort on tools and systems (allowing for higher product agility and meeting digital requirements of customers), is of particular interest.

This approach has allowed the Indian insurer to reach its digitisation objectives with low risk. We think insurers that are still hesitating on the approach to modernise their legacy system could find the Chola MS’ Phoenix Digital Platform initiative inspiring.


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