insure eng beat banner

Article

EngineeringBeat: Transforming with mainframe modernization

Accelerating digital transformation in insurance

The insurance industry is at a crossroads where opportunity collides with challenges like evolving customer and regulatory demands, rising costs, and a shrinking talent pool. To meet the challenges and seize the opportunities, digital transformation in insurance is imperative, but mainframes can struggle to support the advanced technologies required.

${column-img-description}

Modernize to accelerate digital transformation

Once the lifeblood of IT, legacy mainframe systems now hobble the digital transformation needed to solve complex insurance industry challenges. Modernizing to a more technologically advanced environment can help. Mainframe modernization can enable access to next-gen capabilities like artificial intelligence (AI), cloud, and big data analytics—which can help optimize performance and compliance and accelerate digital transformation to spark innovation and power long-term growth.

1

Enhance the customer experience with next-gen tech

Customer expectations are evolving. Modernization helps via access to next-gen tech for timely data access, faster processing, and seamless mobile integration—which enhances the customer experience.

2

Use cloud-based platforms to access next-gen tech

Cloud-based platforms enable the use of AI and big-data analytics to help insurers improve data analysis, risk prediction, and fraud detection—and offer more tailored products and services.

3

Detangle regulatory compliance complexity with AI and machine learning (ML)

Modern platforms with AI/ML capabilities can simplify compliance by automating reporting and regulatory data analysis, and ensuring reporting accuracy, which builds trust and improves efficiency.

4

Address cost and talent issues with cloud

Cloud modernization optimizes costs with resource efficiency and flexible pricing options, reduces reliance on legacy skill sets, and expands the talent pool—sparking innovation and driving growth.

${column-img-description}

A leading European insurer wanted to replatform critical mainframe applications to a Linux environment as part of a modernization plan. Working with Deloitte, the insurer used automation for legacy code refactoring, database and interface updates, and third-party tool replacement—which cut operating costs by 80%. The initiative also boosted agility, reduced reliance on mainframe talent, and delivered a lean, modern IT platform without business disruption.

Modernize to innovate and thrive

Digital transformation in insurance can help organizations develop the agility and advanced capabilities they need to thrive in a dynamic, customer-centric future. Mainframe modernization can accelerate that transformation by enabling more personalized services, streamlining operations, and improving risk management. The result? Resilience, innovation, and competitive advantage, which turns tomorrow’s promise into today’s reality.

${column-img-description}

Align your business strategy to future proof your organization while maximizing ROI

Contributors

Anushri Anand, Deloitte Consulting LLP

Insert Custom HTML fragment. Do not delete! This box/component contains code that is needed on this page. This message will not be visible when page is activated.
+++ DO NOT USE THIS FRAGMENT WITHOUT EXPLICIT APPROVAL FROM THE CREATIVE STUDIO DEVELOPMENT TEAM +++

Fullwidth SCC. Do not delete! This box/component contains JavaScript that is needed on this page. This message will not be visible when page is activated.

Did you find this useful?