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Insurance legacy modernization initiatives often fail to fully decommission insurance core and supporting systems. Life and P&C insurance CIOs should embrace decommissioning to free up IT budgets for transformational investment to compete in an increasingly challenging insurance market.
Table of Contents
Incorporate Decommissioning Into Your Continuous Modernization Cycle
- Start With Application and Platform Discovery
- Identify the "Low-Hanging Fruit"
- Review the Application Architecture Team's Proposal
- Establish Decommissioning Principles for Success
Establish a Separate Team to Manage Decommissioning, Headed by an "Application Undertaker"
- Hire an Application Undertaker With Strong Management Skills
- Archive or Delete the Application's Resources
- Notify Suppliers That Services Are No Longer Needed
- Manage Retained Data and Its Regulatory Compliance
Develop a Portfolio of Decommissioning Solutions to Align Technology and Business Options to Specific Categories of Data
- Incorporate Decommissioning Into Your Continuous Modernization Cycle
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