The back-office bureau for the London Insurance Market has become the first organisation in the world to deploy an IBM z114 mainframe system, according to Xchanging, the IT services company that operates the bureau.
According to a statement from Max Pell, managing director of Xchanging’s insurance division, the mainframe replaces "ageing technology". It will improve "storage capacity, backup and speed of bureau operations" and "provide for increased volumes of transactions", the company said.
The upgrade took place over the weekend of the 10th and 11th December and occurred without a hitch.
IBM launched its z114 mainframe system last summer, saying the model "allows mid-sized organisations to enjoy the benefits of a mainframe as the foundation for their data centres. [It] costs 25% less and offers up to 25%2 percent more performance than its predecessor, the System z10 BC server." The z114’s starting price is around $75,000 (£48,000).
Last month, Xchanging won a three-year extension of its contract to provide IT services to the London Metal Exchange. The deal is worth £75 million over the three year period.