Insurers are increasingly looking to microservices and APIs as a way to assemble solutions from leading edge components. Advances in these technologies are removing barriers to IT simplification and accelerating the evolution to cloud.
Accenture’s cloud-agnostic approach to shared, yet dedicated microservices, encapsulates and centralizes business functions in a way that supports rather than stifles business innovation and can adapt to future demands more easily.
Cloud-agnostic approach to microservices delivers more options
Today’s native cloud applications force insurers to choose between cloud flexibility or business functionality. ALIP’s cloud-agnostic approach to microservices provides both and delivers more deployment options including on premises, in cloud or both.
Accenture re-architected its Life Insurance and Annuity Platform (ALIP) to a service-oriented architecture (SOA) years ago, helping insurers orchestrate their shift to digital business operations and future ready their environments for cloud. With a strong focus on leading edge technology, Accenture componentized thousands of ALIP features and functions into individual configurable units/services—pseudo microservices—decoupling them to enable cloud elasticity, deployment flexibility, high availability, organizational scalability and automation.
Delivering the best of both worlds: Cloud benefits and continuous innovation
According to an MITSloan Management survey in conjunction with Accenture Research1, 67 percent of C-level executives would like to replace all of their core legacy systems. But 70 percent would like to keep their existing core systems as long as possible—while 50 percent wish they could have the best of both worlds. The goal of ALIP’s approach to cloud and microservices is to provide the best of legacy and new. It creates a scalable, flexible, and resilient IT architecture that allows ALIP to work side by side with both modern and legacy applications.
In addition to the thousands of features already componentized, Accenture’s strategic road map includes reassembling all ALIP business functions and the relevant data into microservices, organized around business capabilities—from high-level business functions such as billing, to low-level services like generating a PDF. The Accenture Actuarial Calculation Engine (AACE) is a great example of an existing microservice that has its own data or can use shared data. It’s self-contained, supported by a dedicated team, yet linked to other business services via business configuration.
Read the Point of View for the 5 IT business imperatives
ALIP’s approach to microservices is not only more feasible and more practical for complex life and annuity operations, but also future ready. It’s designed to give life and annuity carriers the most flexibility to profitably run their businesses and to quickly adapt to their needs, market dynamics and technological advancements along five IT business imperatives:
- High availability
1 MITSloan Management Review, “Technical Debt Might Be Hindering Your Digital Transformation,” Adam Burden, Edwin Van der Ouderaa, Ramnath
Venkataraman, Tomas Nyström, and Prashant P. Shukla. June 19, 2018. https://sloanreview.mit.edu/article/technical-debt-might-be-hindering-yourdigital-