When a bank or insurance carrier, re-insurer has multiple legacy systems and juggling the CEO's desire to deliver Amazon quality customer experience from inflexible core systems expect problems.
Luckily there are modern platforms that can deliver the customer satisfaction quickly without facing these issues.
But fools rush in where angels fear to tread.
I was forcibly reminded by Christopher Surdakthat: -
"Mike, transformation means different outputs, not different inputs. Worrying about what platform to use, without new outcomes, is like arguing over the color of the umbrella in a mai tai... on the Titanic."
Before rushing in with the what, where, how, when and who when migrating technology ask the most important question. WHY?
As Christopher added; -
Mike Daly “without ‘why’ you have no power”, the Merovingian in the movie ‘The Matrix’ (edited)"
I should have remembered that without Christopher I would never have digitally transformed the global reservation systems at Hilton. We spent six months asking why and then successfully answering the what, where, when etc.
For insurers one solution to be found here
As well as delivering the customer satisfaction, efficiency and effectiveness vital to compete with other insurers, full-stack insurtechs and the ever threatening Amazon and other tech giants.
And you'll not have to resign.
Pester had been CEO for seven years, but was criticised for his role in the bank's mismanaged banking platform migration in April, which left some customers without access to their accounts for more than a week. The bank's handling of the crisis was so poor that Pester was called to testify before the House of Commons Treasury Committee - twice. Pester blamed middleware for the IT problems "causing issues with the throughput of data". Many observers, though, blamed a lack of thorough preparation and testing prior to the platform migration.
unknownx500
