Why Insurance Carriers are Choosing to Migrate to Microservices
It is like a world of Goliaths into which David came in quietly and shook up the norm. That happened almost 10 years ago when microservices made their debut with Amazon and Netflix. Insurance for long has been a stronghold for monolithic systems and all was good. There was no pressing need to break down these single-tiered monolithic applications into smaller chunks. Now though, many insurers are looking at long and short-term plans for digital transformation, and the architecture to underpin this journey becomes vital. But is it right to say that monolithic systems are on their way out? The evolution from mainframes to monolithic to microservices Since the early days of software development in the 1950s, systems were deployed as a single process. These l egacy mainframe monoliths written in COBOL were replaced later by core insurance systems written in new languages like Java. These systems combined all core functionality like claims, policy, and billing processes into one monol...