Remove Risks
Risks include aging technology, hardware failure, data leakage and keyman dependencies.
Many in the insurance sector have decades worth of historical data and systems. Causing an over-reliance on key staff with specialist operating knowledge. Out of production systems – especially those not being routinely upgraded and patched pose risks like system failure and cybersecurity threats, making customer data vulnerable.
The issue is amplified as firms get stuck in the hot global mergers and acquisition (M&A) market and take on more business and inherit more systems, many of which were developed 10-25 years ago.
Moving beyond legacy systems, need not be so challenging when you have an affordable modern central repository like the IDS Insurance Data Archiver. Allowing you to take ownership of your data and break the shackles of legacy systems.