Abstract
Consolidating and modernizing software architectures in the financial services industry has become a number one issue on the current agenda of Chief Information Officers (CIOs). Common software architectures have matured over the past twenty years or more but the business itself has changed so seriously that many companies, especially insurance carriers, have architectures that lag behind the business innovation. Today, more and more CIOs agree that they have to spend major parts of their IT budget for maintenance and that the ratio between costs and innovation is not appropriate anymore (e. g. cf. (Lier 2005)). (Hersh 2006) confirms and predicts that reducing operational costs will stay a top priority for quite a while because maintenance costs can range from uncomfortably high to downright crushing when carriers spend 80 percent or more of their budgets on maintenance rather than new projects.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Bozovic A, Jakubik M (2006) Time to Say Goodbye. Retrieved January 5, 2006 from http://www.nationalunderwriter.com/tech/news/viewFeatures.asp? articleID=1059
Cyphert M in Hyle RR (2006) Taking the Big Step. Retrieved January 5, 2006 from http://www.nationalunderwriter.com/tech/news/viewFeatures.asp? articleID=1061
Gruhn V (2005) Agieren statt reagieren. vb-versicherungsbetriebe 4/2005, 20–21
Lier M (2005) Dies und das aus der elektronischen Versicherungswelt. Die IT-Budgets regiert der Rotstift. Versicherungswirtschaft 7/2005, 480–487
Hahn, C-P (2005) Metadaten, Application Understanding und Software Migration, Gesellschaft für Informatik e. V. Softwaretechnik Trends Band 25 Heft 4, ISSN 0720-8928, 28–29
Harris-Ferrante K in Hyle RR (2006) Taking the Big Step. Retrieved January 5, 2006 from http://www.nationalunderwriter.com/tech/news/viewFeatures.asp? articleID=1061
Hersh C (2006) Power Toolbox. Retrieved January 5, 2006 from http://www. nationalunderwriter.com/tech/news/viewFeatures.asp?articleID=1060
Openmdx.org: openMDX introduction: Version 1.0 http://www.openmdx.org/ documents/introduction/openMDX_Introduction.pdf
Riemer O (2005) Vorsorge Lebensversicherung AG: Die Versicherungsfabrik. I.VW Management-Information 4/2005, 14–19
Traeger M (2004) Automatisierung/Industrialisierung im Schadenmanagement. In: El Hage B, Jara M (eds): Schadenmanagement. Grundlagen, Methoden und Instrumente, Praktische Erfahrungen. I.VW Management-Information 6/2003, 94–112
Watzlawick P (1983) Anleitung zum Unglücklichsein. Piper, München 1983
Wikipedia contributors (2006) Unified Modeling Language. Wikipedia, The Free Encyclopedia. Retrieved February 25, 2006 from http://en.wikipedia.org/w/ index.php?title=Unified_Modeling_Language&oldid=41083251
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2008 Springer-Verlag Berlin Heidelberg
About this chapter
Cite this chapter
Knogler, C., Linsmaier, M. (2008). Product Management Systems in Financial Services Software Architectures. In: Seese, D., Weinhardt, C., Schlottmann, F. (eds) Handbook on Information Technology in Finance. International Handbooks Information System. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-49487-4_3
Download citation
DOI: https://doi.org/10.1007/978-3-540-49487-4_3
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-49486-7
Online ISBN: 978-3-540-49487-4
eBook Packages: Business and EconomicsEconomics and Finance (R0)