Managing complex, legacy systems are a challenge for any business. In Insurance, many of the policy admin and claims systems are the legacy systems developed long back or inherited through acquisitions. These systems were once state of the art, built on top of unwieldy, monolithic and homogeneous platforms. These mature systems are dependent on technologies or architectures that are not flexible or scalable, and related information systems that are fragmented or inconsistent as a result of legacy cornerstones. On average, legacy systems consume up to 75-80% of a company's IT budget for maintenance and support. As a result, the enterprise applications are not able to support today's business, competitive plans and future growth initiatives. To meet the demands for business innovation and agility, enterprises are looking forward to improve the overall structure, reusability, flexibility and performance of existing applications and platforms.
At VirtusaPolaris, we have developed a business-driven approach to legacy IT modernization, focusing on business value, customer experience and operational benefits. Our technical approach emphasizes harvesting existing information assets for asset reuse, covering process optimization, architecture, platform and user experience. We leverage best-of-breed packages and open-source components and frameworks to reduce code footprint, improve agility and build extensible application platforms for the future. We have successfully implemented these in policy administration and claims systems for multiple insurers in migrating to newer custom development and off-the-shelf products as per the rationale that would fit in with the insurers business needs.
Our legacy modernization services enable customers to transform different legacy systems running on heterogonous proprietary platforms, developed in various programming languages with data stored in legacy databases and file systems, into a J2EE environment, SOA-based architecture.