testimonial
“The system was custom built in the 1980s, and the design was extremely complex. Despite the complexity and high-transaction counts, the system was successfully replatformed to AWS. This has been a hugely impressive implementation that has enabled Venerable to adhere to its cloud-first strategy.”
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WhoTim Billow
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RoleEVP & CIO
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Company
project
overview
Venerable Holdings, a leading consolidator of legacy annuity business managing billions in assets from major insurers like Voya and John Hancock, faced the challenge of modernizing their critical Agent Management System that underpins commission calculations, payment processing, and licensing operations for thousands of agents nationwide.
Their monolithic mainframe system, built on 3.8 million lines of COBOL code accumulated through multiple acquisitions, required seamless migration to AWS cloud infrastructure without disrupting the financial operations that support millions of annuity policyholders.
Partnering with Heirloom and implementation teams from Cognizant, Venerable embarked on an ambitious transformation to establish their cloud-first strategy and create a scalable acquisition engine for continued growth in the annuity management sector.
Their monolithic mainframe system, built on 3.8 million lines of COBOL code accumulated through multiple acquisitions, required seamless migration to AWS cloud infrastructure without disrupting the financial operations that support millions of annuity policyholders.
Partnering with Heirloom and implementation teams from Cognizant, Venerable embarked on an ambitious transformation to establish their cloud-first strategy and create a scalable acquisition engine for continued growth in the annuity management sector.
outcomes
The migration delivered transformational results for Venerable's operations, completing 8 months ahead of schedule and establishing a new benchmark for insurance industry modernization.
The legacy mainframe applications were successfully modernized as cloud-native services on AWS infrastructure, achieving remarkable operational efficiency with the complete decommissioning of their IBM mainframe systems.
The modernized platform reduced operational expenses by over 80%, delivering $1 million in monthly cost savings while maintaining continuous availability for agent operations and policyholder services.
This groundbreaking achievement positioned Venerable to scale dynamically with their acquisition strategy, eliminated costly mainframe maintenance contracts, and established a foundation for continued innovation in serving the retirement security needs of their millions of annuity contract holders.
The legacy mainframe applications were successfully modernized as cloud-native services on AWS infrastructure, achieving remarkable operational efficiency with the complete decommissioning of their IBM mainframe systems.
The modernized platform reduced operational expenses by over 80%, delivering $1 million in monthly cost savings while maintaining continuous availability for agent operations and policyholder services.
This groundbreaking achievement positioned Venerable to scale dynamically with their acquisition strategy, eliminated costly mainframe maintenance contracts, and established a foundation for continued innovation in serving the retirement security needs of their millions of annuity contract holders.