Don’t Discount the Power of IBM I in Today’s Modern P&C Insurance IT Transformation Strategies
May 29, 2023
As the world of insurance technology rapidly evolves, many CIOs in the industry are focused on implementing the latest technologies and solutions to modernize their IT infrastructure. However, during this race to modernize, many organizations may overlook the potential of their existing systems built on the IBM I. In particular, the native IBM I development tools and operating system, which have been a cornerstone of many businesses’ IT infrastructure for many years, are often overlooked as outdated and irrelevant.
I know what you’re thinking. “IBM I? Isn’t it an outdated system? There’s something newer and better out there.” Don’t be so quick to replace it.
As per a recent study by IBM, the IBM I operating system is still a critical component of modern IT infrastructure. The study found that companies running the IBM I operating system have experienced less downtime, fewer security breaches, increased system storage, improved mobile accessibility, and higher resiliency and availability than companies using other operating systems. This is likely due to the IBM I operating system’s proven track record of reliability, security, and scalability.
Modernizing systems is not just about replacing them with the latest technology. It’s about finding ways to integrate existing systems with newer technologies to improve functionality and efficiency. That’s where IBM iSeries modernization services can help organizations achieve this goal without discarding their legacy systems entirely.
With that note, this blog post will discuss how IBM I modernization services can help insurance CIOs make the most of their core legacy systems and maintain their competitive edge.
So, don’t discount the power of IBM I — it might just be the missing piece in your company’s IT puzzle!
Understanding IBM I’s True Potential
Some have unfairly labeled the IBM I platform as outdated, but in reality, this enterprise-class system has a lot to offer. You can tap into its true potential by embracing modern tools and methodologies. Here are a few reasons why P&C insurance businesses should consider IBM I:
- Offers unparalleled stability and reliability, making it ideal for mission-critical applications.
- Consists of a robust security framework, helping you protect your valuable data.
- Allows you to handle growth and changes in demand without sacrificing performance with its highly scalable and adaptable features.
- Integrates seamlessly with newer technologies like cloud computing and APIs, making it a flexible and future-proof solution.
- Helps you reduce costs, improve efficiency, and enhance the customer experience.
If leveraged appropriately, IBM I systems can become just as innovative and competitive as their newer counterparts.
A Commitment to Continuous Improvement
Businesses must stay committed to continuous improvement to stay ahead. This is particularly true when referring to IBM I modernization.
Here are a few reasons why adopting an incremental approach is essential:
- Allows you to keep up with new hardware releases, ensuring your IBM I system remains up-to-date.
- Becomes easier to manage and more cost-effective than large-scale overhauls.
- Enables you to reduce the risk of compatibility issues and ensure your IBM I system remains stable and secure.
- Help you boost the value of your IBM I investment, allowing you to extend its lifespan and avoid the need for costly replacements.
- Assists you stay competitive and meet evolving business needs.
By embracing a consistent cadence of smaller and larger modernization initiatives, businesses can ensure that their IBM I systems remain relevant and efficient.
The Importance of a Holistic Digital Strategy
A successful IBM I modernization requires a comprehensive approach that considers all aspects of the platform. The key to a successful digital strategy is to examine each component of the IBM I system and prioritize the areas that need updating based on quantitative assessments.
Here are some additional details about the importance of a comprehensive approach to IBM I modernization:
- IBM I platforms are complex and have many components. Modernizing one component without considering the others can lead to problems such as compatibility issues, performance degradation, and security vulnerabilities.
- A comprehensive modernization approach takes into account all aspects of the platform, including the hardware, software, and data. This ensures that the modernization is done in a way that is both effective and efficient.
- Working with a trusted partner who has experience in IBM I modernization can help to ensure that the project is successful. A trusted partner can provide the right tools and expertise to help you prioritize the modernization efforts, identify the best modernization solutions, and manage the project effectively.
The Value of IBM I in IT Operations
IBM I is a unique operating system, and its value in IT operations cannot be overstated. Here are a few reasons why:
Deep Integration
Offers deep integration with various layers, including virtualization, transactional systems, databases, and application servers; this level of integration results in a robust foundation for innovation while reducing operating costs.
Built-in Security and Compliance
Modernizing your IBM iSeries software will help you leverage the latest in-built security features and comply with industry regulations, making it a trusted and reliable choice for businesses with strict security requirements.
Streamlined Nature
Streamlines integration with other systems, both on-premises and in the cloud, by leveraging new technologies, such as AI and IoT, and integrating with third-party applications to deliver better customer experiences. With streamlined processes, insurance professionals can devote more time to value-adding tasks, leading to more efficient resource usage.
Cost Savings
Reduces maintenance costs and increases ROI. As a result, this can enable you to identify cost-saving opportunities and minimize downtime.
Future-Proofing your IT Infrastructure
Allows you to future-proof your IT infrastructure and ensure it remains relevant and effective for years to come. Modernization can help you stay ahead of emerging technologies and prepare for future business needs.
Navigating IBM I Modernization Challenges
While IBM I modernization can be complex, with the right approach and tools, businesses can successfully modernize their IBM I systems and enjoy the benefits of a modern, digital-first platform.
- One common challenge is the risk of disrupting critical systems during the modernization process. However, solutions like Rocket® Modernization Solutions for IBM® i offer a non-disruptive approach to modernization, minimizing the risk of downtime or data loss.
- Another challenge is the complexity of IBM I itself, but by working with a trusted partner that specializes in IBM I modernization, businesses can simplify the process and ensure a seamless transition.
Wrapping Up
By leveraging the power of IBM I and embracing modernization, P&C insurance companies can enhance their IT operations and secure a competitive edge in the digital landscape.
Are you thinking of modernizing your legacy systems? Contact KMG – our experts will make your experience a seamless modernization journey.
