Reliance on legacy systems is killing your insurance workflow

Staying one step ahead of the competition is very important in order to stay relevant in the industry 4.0 and with newer technologies on the horizon, the opportunities are endless.

scalong can help your business migrate to newer technologies at every step of the way from finding the right platform and its consulting to the entire process of migration. We help your business to stay ahead of its competitors and have a competitive edge to better serve its clients.

Legacy system is holding down your business

Even though there are new and innovative ways to digitize business operations, many organizations still choose to utilize legacy ways to run their business. There are many reasons for this, but the most common one is that all systems of an organization already function properly and they believe that a transition can be expensive and complex. However, it does not have to be that way.

Legacy Code is robbing your business every second.

Let us understand how:

1.   Limited Scalability

Since legacy systems are designed to work by themselves and their internal module. These systems cannot seamlessly be integrated with newer technologies. Even if you go through the entire coding process of integrating new technologies with old ones a lot of errors and problems might occur.

2.   Security Risk

COVID-19 has made all businesses take their operations remote making them more susceptible to cybercrime. Outdated hardware and software are more vulnerable to cyber-attacks as vendors usually drop support for a system as it gets old, leading to security vulnerabilities i.e., data breaches, ransomware, etc.

3.   High Maintenance Cost

There is a misconception that maintaining new technologies can be expensive, rather maintaining legacy systems is much more expensive. Moreover, using old technology will never be able to keep up with new technologies.

4.   Lack of Analytics

Modern systems can capture data insights and other important information that can be presented and used to make important business decisions. This kind of functionality is not present with legacy systems as they simply were not designed to capture and process big data.

5.   Inefficiency of systems

Legacy systems are slow and unresponsive which tends to frustrate and impact the productivity of employees with long load times, lags, etc. due to the age of the hardware and the lack of support by the manufacturer as their focus shifts to newer technologies.

Pioneering insurance with new technologies

Utilizing modern technologies can help elevate insurance experiences for all employees, policyholders, agents, etc. by digitizing processes and crafting rapid engagement solutions.

With the help of modern technologies, scalong can transform your insurance business to perform better and efficiently, better understand your customers, automate quotes and claim filing processes, easily manage commissions, and so much more.

Improve your insurance workflow with iBoss’s

  MicroservicesSelf-Service Portals  Integration SolutionsDevOps & Infrastructure Support
Data Migration ServicesBackoffice ApplicationsWorkflow & Document ManagementQuality Assurance & Testing Services
Disaster Recovery Systems  Mobile SolutionsAI-based Virtual Assistants 

These new technologies can not only make a business more efficient, but also allow companies to increase their profitability. As per the research done by Accenture, it is said that insurance companies can increase their revenue by 20% by using the right technology.

What iBoss offers to your business?

Technology has provided us with endless possibilities and deciding from the endless number of available technologies could be a daunting task, but at scalong, we can help your business find the right solution while ensuring that it is always future-ready.

We are a bunch of enthusiastic and digitally savvy minds with ISO 27001 certification and 16 years of experience to help enable our global clientele to stay technologically competitive in their respective industries. Our certified professionals will coordinate with a business to understand and properly understand their requirements and propose a solution; allowing them to take the next step.