If you're an insurance company using mainframes, you may believe some common misperceptions about the platform, and may need a refresher on its virtues.

The mainframe remains the most secure, lowest cost and best performing computing platform on the planet. According to IBM, all of the world's 10 largest insurance companies continue to run mainframes. These platforms process roughly 30 billion business transactions per day, including most major credit card transactions and stock trades, money transfers, manufacturing processes, and ERP systems. The mainframe retains a unique distinction as the mission-critical heartbeat of the digital economy, supporting cutting edge web and mobile transactional applications.

Some argue the mainframe is old, and needs to be replaced with a (supposedly) better, more "modern" distributed environment. However there have been far too many examples of organizations attempting to "rip and replace" their mainframes, only to find that it is way too costly, time-consuming and expensive. In fact, Gartner found that only 42 percent of migration projects in the insurance industry meet the original budget and 82 percent take longer than expected, or are never fully completed. These organizations would be much better served by focusing on rejuvenating versus replacing; modernizing and better managing their mainframe environments.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.