One of the major technology challenges facing many large insurers is their reliance on monolithic legacy applications, that were created many years (or decades) ago but are still in use to serve current and prospective policyholders. This Legacy Transformation Model Insurer award-winning initiative describes how John Hancock transitioned a large set of legacy applications and data to a modern cloud-native, microservices-based architecture.
In this initiative John Hancock successfully modernized multiple legacy administrative systems by transitioning from multiple outdated systems to one streamlined, innovative cloud-based setup, The initiative also significantly cut the total cost of ownership by 90%, decommissioned over 140 applications, eliminated dependence on five legacy technologies, and reduced data storage by 60TB. This transformation has positioned Hancock to update its mainframe technology-based applications to C# or .Net in the future, allowing these applications to run on more cost-effective cloud solutions.
As an extension of Hancock’s commitment to deliver best-in-class customer and producer experiences, this initiative is a case study for how legacy insurers can achieve a higher standard of operational excellence within their organizations.
Anyone can view a summary of the report or watch a highlight reel of the case study to learn more. Celent subscribers can access the full length case study report below.
