Gartner Research

Use Risk Maps to Assess Insurance Legacy Modernization Options

Published: 25 February 2014

ID: G00260478

Analyst(s): Juergen Weiss

Summary

Legacy modernization projects present life and P&C insurance CIOs with opportunities to save costs or improve business and IT performance, but with significant risk of failure. Risk-mapping methodology can help CIOs evaluate the risks of different modernization options and guide senior management.

Table Of Contents
  • Key Challenges

Introduction

Analysis

  • Create a Complete List of Risk Types and Assign a Quantitative or Qualitative Score to Each One
  • Plot the Relative Probability and Impact of Each Risk Type for Each Legacy Modernization Option on a Separate Risk Map
  • Identify the Enterprise's Risk Threshold and Compare the Different Legacy Modernization Options

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