Disruption in insurance: not a matter of ‘if’ but a matter of ‘when’

January 29, 2018

In an interview on the digital insurance agenda, AXA Chief Marketing Officer and Chief Digital Officer Amelie Oudea Castera talks about the challenges of delivering the Digital Insurance Agenda, the disruption of insurance, and the challenges & success factors of teaming up with Insurtechs.
As a former world champion, Castrera compares the insurance business with a tennis match: “On top of technical skills, insurance requires attention to every detail, a mix of action and anticipation, a capacity to work over the long-term and a lot of technical expertise!”

According to Castrera it is not a matter of ‘if’ there will be a disruption in the insurance industry but a matter of ‘when’. Teaming up with Insurtechs is essential in order to keep up. In her opinion, the greatest challenge for incumbent insurance companies in this cooperation is the cultural gap between the startups and large corporate worlds, including for example the difference in speed of decision-making or the discrepancies in terms of focus (growth vs. profitability).

What we, as legacy transformation experts, find is that legacy environments are often a huge bottleneck that negatively influences exactly those areas. When IT organizations focus on keeping business-critical legacy systems running, valuable resources and huge budgets are taken away from innovation, integration and cooperation.

The moment they decide to get off the mainframe and migrate their legacy applications there is a clear shift in focus which opens the door to innovation. A great example of this is VIVAT, this large insurer encompasses multiple insurance brands (e.g. Reaal Dier & Zorg, Zwitserleven, Reaal, Route-Mobiel and Zelf) and a sustainable asset manager (ACTIAM).

Over the past decades, VIVAT had developed its core insurance systems using the Unisys EAE/LINC programming language running on Unisys Libra 690 mainframes. They found that this environment burdened them with high costs and limited flexibility. After they migrated 15 different applications, of which 8 business-critical, they not only achieved an immediate reduction of 70% on infrastructure and operational cost but there are also new functionalities available that help them realize their growth and innovation ambitions.

Read more here:

Swiss Bank trusts Asysco: New Life for Banca Del Ceresio’s Unisys Legacy

October 16, 2017

NEW LIFE for BANCA DEL CERESIO’s UNISYS LEGACY

Banca del Ceresio has decided to move forward with a migration of their Unisys Libra mainframe system to Asysco’s AMT LION solution. They are a family business offering financial services, headquartered out of Lugano (the biggest city in the Italian-speaking Canton of Ticino, the southernmost canton of Switzerland).

Their only alternative appeared to be a package solution (together with an outsourcing approach). But after their deep analysis of the Asysco solution and gaining more and more trust whilst working with the Asysco professionals, they realized how much more value they would get from the legacy transformation approach. Now, they are looking forward to modernizing their system landscape and taking it to the next level.

As one of their board members put it: “The system needs a new life!”

The engagement started in 2016 with a Site Survey. After that, Asysco supported them on a long “due diligence journey”, which included: various reference calls with successfully migrated Asysco customers, a Proof of Concept for code review, participation at the Atlanta user conference, and multiple technical workshops (one of them at Asysco’s headquarters in the Netherlands).

About Banca del Ceresio

Incorporated in 1958, Banca del Ceresio SA is a Swiss bank that has been active in the financial services industry since 1919. Banca del Ceresio offers private banking, asset management services, financial advice, securities dealing and custody to private clients and institutions, with offices in Lugano, Milan and London.

The Group has developed a world-leading expertise in the management of Funds of Hedge Funds, selecting
the very best talents in the investment universe.
The Group manages several multi-manager hedge funds.

Project Overview

  • Banca del Ceresio is currently running a Unisys Libra mainframe with a DMS II database and approx. 1,000 programs written in the UNISYS proprietary LINC language. This environment is in use since 1996.
  • They have chosen Asysco’s AMT LION solution, enabling them to smoothly transition their development team and keep all the knowledge and skills on board (during and after the project). This flexible approach will allow for an effortless switch to Visual Studio / C# at any moment in the future.
  • The project is expected to be delivered and go live in 2018.

We are wishing the Banca del Ceresio and Asysco teams yet another successful migration project!

OTP Croatia secures future for its core banking through Asysco migration

July 13, 2016

Asysco today announced that it has successfully completed the legacy transformation project at OTP Banka Hrvatska (OBH), Croatia (part of the Hungarian OTP Group).
The project was delivered in close cooperation with outsourcing partner JET-SOL, aligning with and adding value to OTP Group’s Unisys roadmap.

Project Overview

Project Scope:

  • Unisys’s URBIS package (core banking);
  • running on ES7000 hardware with Suse Linux;
  • with approx. 5 Million lines of EAE/LINC legacy code;
  • including 1.4 TB of production data.

Next to the URBIS conversion, the focus of the project was on integration, specifically with the new solutions for replacing Unisys’ proprietary NOF handling.
OBH has chosen Asysco’s AMT LION solution, running on native Microsoft technologies, which delivers a flexible “stepping-stone” into C#.NET.

The project started at the end of September 2015 and was delivered within 9 months.

Smooth Go Live in just one weekend

During the Go Live weekend, all comparison tests related to the data migration and the running of the batch reports proved 100%. On Monday morning, the URBIS application was opened to the business.

Click here to watch the reference video

Click below to download the case study

About OTP Bank

OTP Bank Group is one of the largest independent financial services providers in Central and Eastern Europe with a full range of banking services for private individuals and corporate clients. OTP Group comprises large subsidiaries, granting services in the field of insurance, real estate, factoring, leasing and asset management, investment and pension funds. The bank is serving clients in 9 countries, namely Hungary, Slovakia, Bulgaria, Serbia, Romania, Croatia, Ukraine, Montenegro and Russia.

Nowadays OTP Groups’ more than 36,000 employees are serving 13 million clients in over 1,500 branches and through electronic channels in all its markets. In Hungary, OTP is still the largest commercial bank with a market share of more than 25%.