TmaxSoft will attend TINtech 2016 on June 14th, a leading insurance network technology conference, and will host a key workshop on ‘Modernizing Core Systems’. Alongside sponsoring the event, we’ll also educate attendees on how to overcome the challenges of legacy systems that pose barriers to robust business growth.
TINTech 2016 is one of the UK’s leading conferences advancing the idea that successful technology strategies are drivers of business change. Over 300 veterans of the insurance IT industry will attend the event on June 14th, sharing their insights to enable IT leaders to deliver profitable growth and competitive advantages within their businesses.
TINtech is a standout event for the UK’s insurance technology industry, and we’re proud to be hosting our workshop during the conference. The modernizing and streamlining of core systems, including relational database management and mainframe tools, is something that we at TmaxSoft are passionate about. Too many businesses can become encumbered with legacy infrastructures underpinning their businesses, unable to scale with their growth and requiring heavy investment to grow organically. This is completely unsustainable and a real detriment to digital transformation and strong growth.
Indeed, Gartner fully recognizes that the modernization of core frameworks is an imperative for insurance IT leaders. Its study from 2015 found that 51 per cent of core applications in insurance businesses still ran on legacy infrastructure, yet predicted that by 2018, CIOs who do not upgrade their mainframes would see 20 per cent lower digital maturity. IT leaders within the insurance industry do see this procedure as a key priority however, with 32 per cent stating that modernizing their systems is most important for improving their digital capabilities. Our workshop will educate attendees about how they can escape this kind of infrastructure, including how to evolve systems while managing risks during any migration stages. We hope to give CIOs the knowledge necessary to upgrade their mainframes with full confidence.
Of course, updating and enhancing legacy infrastructure is only part of the challenge when considering how IT can drive business competitiveness. It’s a shame to see some of the most prominent managed services providers, including the world’s biggest relational database vendor, selling to customers with severely muddy licences that can lead to huge price hikes down the line. These kinds of charges, when combined with long-term contracts, can be devastating for businesses looking to offer competitive prices to their clients.
Our workshop at TINtech 2016 will help businesses avoid these damaging business agreements, instead investing in strong core systems that boost their revenues in the long-run. We’re delighted to be taking part in the conference this year and cannot wait to share our insights with the rest of the businesses attending.
For more information, and to register for TINtech 2016, please click here: http://www.the-insurance-network.co.uk/event/tintech-2016/