Given the complexity and timeframe of holistic core modernizations, insurers have been looking at adding digital layers or a "middle-office" on top of the legacy core(s), instead of replacing them. However, this can bring new challenges, as Gartner  explains:

"The middle office provides the integration APIs and digital accelerators to enable the rapid development of digital engagement solutions, such as portals and apps. However, buyers should note that a middle office does not remove the need to modernize the core. The middle-office solution will still need to integrate with the core system, and this can often be very complex when moving beyond simple quote-and-buy transactions. The middle office can also introduce duplication and synchronization issues for functions such as product definitions and rates. Buyers may want to evaluate a middle-office option for more immediate needs, but should do so with the longer-term goals and objectives of their modernization strategy in mind."

Peak3's Graphene is uniquely positioned to serve both as a full core system, as well as a middle office. Its full microservices architecture allows a modular deployment. Whether insurers want to replace their legacy core(s) or modules thereof (e.g., claims), extend digital capabilities like a middle office on top of legacy core(s), or launch new business on a separate adjacent core without legacy constraints, Graphene tailors to insurers unique circumstances and requirements. Importantly, insurers may adopt more modules over time. This means that insurers may start using Graphene as a middle-office first and, when the time comes for a more holistic modernization, use more of Graphene's capabilities, building on previous implementation work, instead of writing it off.