Overcoming the Legacy Technology Trap

LATEST THINKING

Your IT systems are inflexible in the face of new business needs…
Your change organization takes months (or years) to implement simple change…
There’s a running battle with the business around costs…
Business stakeholders often begin conversations with "If only we had the data to add"…

If so, you might be caught in the insurance legacy technology trap.

THE INSURANCE TECHNOLOGY TRAP

The insurance legacy technology trap, which we see frequently through our work with insurers worldwide, frustrates operational efficiency and impacts the fight for relevance with customers, brokers and other insurance ecosystem partners.

Legacy IT issues are certainly not unique to insurance. But there are specific industry issues that make them particularly challenging for insurers to overcome. A tailored response is therefore essential.

Here we examine the issues that often arise when insurers grapple with the "Legacy Technology Trap." Conventional approaches may not provide the answers, so we suggest alternatives approaches to help.