Max Life Insurance Company has transitioned its mission-critical database workloads to Oracle Exadata Database Service, hosted on the Exadata platform within Oracle Cloud Infrastructure (OCI).
This migration, coupled with the relocation of its core systems to OCI, has yielded remarkable results, including a substantial improvement in application performance by up to 70 percent.
The decision to migrate to Oracle Exadata Database Service aligns with Max Life’s vision of future-proofing its infrastructure to meet the evolving demands of India’s rapidly expanding insurance sector. With a projected growth rate of 7 percent over 2024-2028, the company recognized the imperative of upgrading its legacy systems to ensure scalability, adaptability, and resilience in the face of increasing digital interactions and regulatory requirements.
Suhail Ghai, Chief Digital and Information Officer at Max Life Insurance Company, emphasized the pivotal role of cloud technologies in driving the company’s digital transformation journey. Ghai stated, “The migration to Exadata Database Service on OCI has laid a solid foundation for us to capitalize on the increasing demand for life insurance in India and propel our growth trajectory.”
Oracle Exadata Database Service offers an automated Oracle Database solution on OCI, renowned for its superior performance, availability, security, and cost-effectiveness. Max Life leveraged the scalability, availability, and security features of Exadata to optimize its database operations and improve overall system performance.
The migration project, executed in collaboration with Infolob Global, a longstanding member of the Oracle PartnerNetwork (OPN), was completed in under five months. Satyendra Pasalapudi, Managing Director of Infolob Global, highlighted the significance of hybrid and multicloud environments in reshaping IT strategies and enhancing organizational flexibility.
With Oracle Cloud Regions in Mumbai and Hyderabad, Max Life has enhanced its redundancy and disaster recovery capabilities, thereby ensuring business continuity and regulatory compliance with the Insurance Regulatory and Development Authority of India (IRDAI). Additionally, Max Life leveraged OCI solutions such as Compute, Storage, Object Storage, and File Server to optimize IT resource utilization and boost operational efficiency.
Kapil Makhija, Vice President of Technology Cloud at Oracle India, underscored the transformative impact of Exadata Database Service on OCI, stating, “With OCI’s world-class architecture and the Exadata platform to run databases at scale in the cloud, Max Life is now well-equipped to meet customer demands with agility and improved responsiveness, facilitating business growth.”
The migration to Oracle Cloud Infrastructure signifies Max Life Insurance Company’s commitment to innovation, agility, and customer-centricity in an increasingly digitized insurance landscape. By using the power of cloud technologies, Max Life is poised to deliver enhanced value to its customers and sustain its leadership position in the industry.