Microservice architecture, or simply microservices, is a distinctive method of developing software systems that has grown in popularity in recent years. In fact, even though there isn't a whole lot out there on what it is and how to do it, for many developers it has become a preferred way of creating enterprise applications. Thanks to its scalability, this architectural method is considered particularly ideal when you have to enable support for a range of platforms and devices--spanning web, mobile, Internet of Things, and wearables--or simply when you're not sure what kind of devices you'll need to support in an increasingly cloudy future. While there is no standard, formal definition of microservices, there are certain characteristics that help us identify the style. Essentially, microservice architecture is a method of developing software applications as a suite of independently deployable, small, modular services in which each service runs a unique process and communicates through a well-defined, lightweight mechanism to serve a business goal. How the services communicate with each other depends on your application's requirements, but many developers use HTTP/REST with JSON or Protobuf. DevOps professionals are, of course, free to choose any communication protocol they deem suitable, but in most situations, REST (Representational State Transfer) is a useful integration method because of its comparatively lower complexity over other protocols.
What makes this simple architecture so special that it is being hyped so much? Is it worth the pain and effort to shift an entire running application from monolithic to microservices architecture? Many such questions came to our minds when we started using the microservices in our projects. In this blog, we will try to cover the answers to these questions and have a deeper look into the microservices architecture and compare it with the monolithic architecture.
Modernization of technology can make a significant impact across many parts of the insurance industry, including underwriting, policy administration, and claims. McKinsey research shows that the potential benefits of modernization include a 40 percent reduction in IT cost, a 40 percent increase in operations productivity, more accurate claims handling, and, in some cases, increased gross written premiums and reduced churn. 1 1. Technology modernization is vital, but--given the significant value at stake and the size of the investment--it should be approached with a healthy dose of caution. Indeed, many insurers miss out on the full benefits of the program for several reasons. First, they don't have a clear view of what sort of actions are needed or the impact such actions could have, which may lead them to undersell both the business value at stake and what is needed to capture it. This approach can enhance the customer experience somewhat, but it doesn't address core challenges such as the ability to reconfigure products quickly or scale users rapidly. is all that is needed, only to find that some capabilities (such as rapid product configurations) require modernization of core systems.
It used to be that the big beat the small--today the fast beat the slow. Fast teams keep their talent engaged, ship faster, and beat the competition to market. Microservices let you increase your engineering speed and agility. Using microservices allowed SoundCloud to reduce a standard release cycle from 65 days all the way down to 16. How did they accomplish this?