The burden of legacy or heritage technologies is not a new issue for the insurance industry.
But the need to reduce dependency on the likes of old mainframes and AS/400 systems has never been more urgent as agile unencumbered competitors spring up with more agile technology-supported offerings.
With this in mind, Post in association recently hosted an interactive webinar where an expert panel including Allianz’s head of strategy and architecture Adam Rates and RSA’s chief information and technology officer David Germaine addressed a number of key questions head on.
• Why has it never been more imperative for insurers to address their heritage estates?
• What options exist for insurers looking to reduce their expenditure on outdated technologies?
• What are the most notable benefits for insurers in becoming less dependent on legacy technology both internally and externally with customers?
• Who should be driving the business case for achieving this; and how can technology departments best argue their case for change?
• Do entrenched silos and long held processes/practices act as a possible obstacle to change? How can these be addressed?
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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