Published on 21 Aug 2023 on Zacks via Yahoo Finance

Aflac (AFL) Collaborates With LTIMindtree for Cloud Migration

Aflac Incorporated AFL recently announced the selection of LTIMindtree to aid the company in its digital transformation journey. This journey can be traced back to early 2019, wherein Aflac launched “One Digital Aflac”. LTIMindtree is a digital solution and technology consulting company, having expertise in cloud migration. This collaboration should accelerate Aflac’s objective to move 100% in the cloud. However, shares of Aflac lost 1% on Aug 18, replicating a decline in broader markets.

This move bodes well for Aflac as rearchitecting its applications with a cloud-first approach would result in the optimization of costs, performance efficiency and better security resulting in operational superiority. LTIMindtree will be using Amazon Web Service’s (“AWS”) cloud-native services to shift AFL’s on-prem applications, which are currently hosted via an out-of-support platform.

The company aims to accelerate its digital transformation journey, evolving from a traditional in-person and independent agent business to a more digital approach. Aflac has transformed its claim processing and enhanced claims experience for employees and policyholders using cutting-edge technologies. Moving applications to the cloud should deliver business value and make AFL’s products more competitive in the market.