Cloud Migration Drives Old Mutual's Transformation Journey
Old Mutual Limited is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets in 14 countries.
With 179 years of heritage across sub-Saharan Africa, Old Mutual continues to play a crucial part in the communities it serves as well as in broader society. Old Mutual commenced its digital transformation in 2017 with the aim of using technology to leapfrog its journey to enable its business strategy. The organisation aimed to modernise its operations by using cutting-edge technology but faced obstacles due to its outdated infrastructure and architecture.
As a result, the organisation went on a journey to modernise its infrastructure resulting in a decrease of its on-premises data centres footprint. The modernisation journey led to the migration of its technology infrastructure with a focus on life insurance, and wealth management systems – to Amazon Web Services. This, says Old Mutual’s Group CIO May Govender, has proven to be the leapfrog to its transformation journey.
“Old Mutual is a 179-year-old organisation, so – as you can imagine – comes with a lot of complexity and challenges. However, the most exciting development for me in the last three years has been Old Mutual's digital and people transformation journey.”
For an insurance organisation – not traditionally known for rapid change and execution – this transformation has been remarkably swift. “For us to leapfrog and achieve our ambition, we realised we had to take a two-pronged approach. We needed to fix the current issues we were experiencing and get the foundational elements right. At the same time, we needed to figure out what our tomorrow looks like today. The cloud migration was a step towards building for a tomorrow that aligns with our strategy and ambition.”
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