Insurers face internal and external pressures to modernize, but large-scale core system replacement initiatives are enormously complex, risky, and resource-intensive. Many insurers find themselves constrained by legacy platforms that stifle their ability to be nimble and innovate. Carriers that are not in a position to embark on large-scale replacements still need strategic options; fintech and insuretech providers can help them move forward in their modernization journeys.

This report examines the key drivers reshaping the insurance industry and the challenges legacy systems impose. It looks at how a progressive modernization strategy focused on delivering business value throughout the transition can provide an option for value to some carriers. The report was created based on Datos Insights’ industry knowledge, survey data from the Datos Insights Research Council, and conversations with solution providers and insurer CIOs.

Clients of Datos Insights’ Life, Annuities, & Benefits or Property & Casualty services can download this report.