Given the hype around digital you might be excused for thinking that you need to re-platform everything, rip out what you currently have - and start again - to remain relevant in the modern insurance market.
Especially given the threat from agile start-ups operating with a clean piece of paper and no legacy technology.
But it should not be forgotten that as a legacy organisation you have a number of things that start-ups would love to have. Including data and customers, and that is just for starters.
Tomorrow at 11am Post in association with Endava will host a live webinar that will seek to address how established and incumbent insurers can turn their legacy to an advantage.
Among the questions we will seek to address during the webinar are:
- Why legacy technology is not always a disadvantage when it comes to innovating and remaining competitive?
- How can an incumbent Insurer turn their legacy to an advantage?
- How should an insurer go about identifying their legacy strengths - and weaknesses?
- What needs to be done with people, process and technology to achieve a legacy advantage?
- What might be the biggest barriers in terms of people, processes and technology that might prevent an organisation achieving a positive result from their legacy technology?
- Whether there is tension between being customer or product centric; and whether the two can co-exist?
- What can be learnt from how other insurers have made the most of their legacy to successfully drive innovation in their organisations?
Joining us for the debate we will have Kate Astall, head of digital marketing at Zurich; Ian Gandy, head of digital and user experience, Travelers Europe; Nick Madge, VP physical computing, Endava; and Bradley Howard, head of innovation, Endava.
Zurich disappointed in new #discountrate. David Nichols, Ch Claims Officer: "The failure to change the discount rate to a balanced level will only serve to increase the cost and, therefore, affordability of certain types of insurance - especially for higher risk customers." pic.twitter.com/ac1CfBzfxX— Zurich Insurance UK (@ZurichInsUK) July 15, 2019
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