Title

AWS re:Invent 2022 - How Resolution Life unlocks legacy data to power transformation (FSI204)

Summary

Moni Kim, an AWS Solutions Architect, introduces the session on modernization strategies and the importance of addressing people, process, and technology pillars.
Tushar Kinger shares Resolution Life's journey in unlocking legacy data, focusing on customer outcomes, and building a new digital ecosystem.
Resolution Life faced the challenge of modernizing 14 administrative systems, some dating back to the 1960s, and transforming them into a cloud-first, API-driven, serverless architecture.
The company adopted a customer-centric approach, building a culture of listening and action aligned with company values.
They utilized low-code platforms like OutSystems for rapid development and AWS services like Glue, DynamoDB, and Neptune for data processing and management.
The transformation led to significant improvements in customer service, with processes like beneficiary changes reduced from days to seconds.
The journey involved learning to appreciate product variations, developing adoption strategies, balancing value creation with capability building, and managing priorities between separation and transformation.

The modernization approach at Resolution Life emphasizes the importance of not just technology but also people and processes, suggesting that a holistic approach is necessary for successful digital transformation.
The use of low-code platforms and serverless architectures indicates a trend towards more agile and efficient development practices, allowing businesses to respond quickly to changing requirements and reduce time-to-market for new features.
The incremental modernization strategy, focusing on delivering value with each sprint, demonstrates the effectiveness of agile methodologies in managing large-scale IT transformations.
The reliance on AWS services for data management and processing highlights the growing trust in cloud providers to support critical business operations and the shift towards cloud-native solutions.
The challenges faced by Resolution Life, such as managing product variations and balancing transformation with ongoing operations, are common in the industry, suggesting that these insights could be valuable for other companies undergoing similar transitions.