New data fabric technology allows insurers to gradually modernise their legacy system “patchworks” without a complete overhaul, Appian says.  

Rather than migrating data from legacy systems, data fabric tech lets traditional insurers connect to disparate systems and orchestrate them as one, the software group’s VP of global insurance Jacob Sloan says.

Seamless access to data in its original environment can be achieved, and users can standardise, synchronise and resolve conflicts between systems without disruption.  

“Insurers can enjoy that digital-first benefit today without very costly or lengthy data migrations,” Mr Sloan said.

“Customer service representatives gain access to complete customer profiles within weeks rather than waiting years for migration completion.

“Claims processors can also access relevant information from multiple systems through a single interface, dramatically reducing processing times.  

“The customer receives a more streamlined and intelligent service, none the wiser that their insurer has implemented an innovative new way of working.”

Appian says for larger insurers, data fabric technology also lays the foundation for artificial intelligence initiatives, providing AI systems with immediate access to useable data.

“Digitising the insurance industry doesn’t have to become a choice between modernisation and stability,” Mr Sloan said. “With data fabric technology, established insurers can add operational agility while preserving their existing investments and processes.”