Real transformation is posing a challenge for insurers, and not merely because the pandemic keeps flaring up again. Even though silo thinking has mostly been eliminated, it lingers on in the form of legacy architectures. Managers therefore rarely have a clean slate to work with and act upon, at any level. In the view of ERGO Germany CIO Mario Krause, it will therefore not be possible to flip the switch overnight to a beautiful new agile world, as desirable as this would be.
On the contrary, transforming our old world into a new one needs a hybrid approach. And to be successful, we need to properly orchestrate four different factors: (1) portfolios, (2) architecture, (3) processes and (4) organisations.
A key to transformation success lies in the situational orchestration of these four factors. From my perspective, that is how to successfully transition to a modernised IT and restructure consistently, while still valuing existing systems. The challenge lies in how to design the required hybrid environment – and that will remain the case beyond 2022. I’m looking forward to it.
Part 1: What technological challenges do we face?
Part 2: Modernising legacies: The continuing challenge of legacy systems