Pacing ahead to conquer the next-gen technology & drive business growth
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Traditional system management of every industry is changing with the introduction of fast-evolving digital tools. The advent and implementation of superior technology like containerization are changing the insurance landscape as well. The most desired outcome for customers in any insurance sector is fast results and ease of navigation. Without the right tools in place, you will find yourself losing the customers to your competitors. Learn how you can modernize your insurance systems with the help of containerization technology and retain your customers as you go!
What Is Containerization In Insurance?
Essentially, containerization technology allows different applications to run in separate spaces or ‘containers’ while still running on the same operating system. The top advantages of this technology are its high flexibility and portable computing environment.
When it comes to the insurance industry, the latest implementations include shifting all the microservices to a cloud application model. The technology allows the different services of the insurance industry to run in separate containers simultaneously. At the same time, they are integrated under the same operating system. The various containers include but are not limited to:
The insurance industry has a reputation of being a rather conservative industry with slow changes to their regular workflow. However, with the introduction of containerization technology, the insurance industry can make a smoother transit to app modernization.
Key Benefits Of Containerization
The insurance industry runs on microservices apps. The agility of the environment helps the workflow gain a natural flow. The DevOps sophistication on the other hand makes digital roll-outs smoother and faster. Experts believe that containerization technology works best for such micro services based apps. The key benefits are:
According to a survey on containerization applications conducted by Red Hat, 66% of the organizations modernizing their apps with the technology showed accelerated development. 59% of the organizations also displayed significant improvement in customer experience. The values indicate the proven benefits of containerization in modernizing core functions.
Application Of Containerization In Insurance
An increasing number of insurance companies are freeing up their budget to invest in cloud applications or hybrid applications that will improve the efficiency of the workflow. The great advantage of the insurance companies will be that they will be able to centralize data which the AI can use to make decisions. This use case is particularly favorable for the insurance industry since there are several decision-making points that come up in the daily workflow. For example, the identification of fraud cases and calculated risks can become easier with the help of predefined data points present in a centralized container system.
How Is The Containerization Strategy Implemented?
Experts in container technology suggest the following sequence to successfully implement containerization strategy to legacy systems. Insurance companies have significant number of legacy systems that need to undergo change for modernization of apps. Here is a general outlook of the system:
Start by integrating the core insurance systems into a common hybrid environment with the help of container system. The centralized data system will help in getting more refined analytics, improving operational resiliency. Automation of common tasks will also help in improving the efficiency of the workflow.
Improve portability, deployment and development of modern apps with container-based infrastructure. Container ‘lift and shift’ is the most common path followed in this case. The process helps the application to run anywhere the container runs along with an optimized operating system and its dependencies. The architecture of the system remains unchanged during the lift and shift process. You can also add augmented layers or rewrite the applications after the shift to make a completely modern stack.
Focus on developing approaches in more collaborative manner to bring greater integrity to the workflow. Connecting with modern IT technologies could reap greater benefits for your organization. Following the collaborative method of development and deployment helped 95% of the insurance companies to improve their productivity along with a better user experience. Modernize your apps with a greater focus on the quality and sophistication of the development process.
Find the right partner to help you modernize your apps with a sophisticated containerization strategy. NSEIT could be the correct choice for you! As an early proponent and provider of a complete 360 digital transformation suite, NSEIT is dedicated to delivering digital-transformation native technologies to the insurance industry. Containerization of our core suite solutions is a testament to our commitment to deliver choice, flexibility, and relentless innovation to the insurance industry that meet the dynamically changing business and IT demands of today and tomorrow.
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