Published: 25 July 2023
Legacy modernization is a top priority, but also one of the biggest challenges for CIOs in the life and property and casualty insurance industry. Avoiding these ten mistakes are critical for saving time, cost and careers for insurance CIOs.
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Replacing a major IT system is an expensive, high-profile and high-risk process. Failures are more commonplace, but evidence is hard to find, as it’s not in the interest of the vendor or the insurer to publicly declare them.
Insurance core system vendor capabilities and deployment models are changing. Insurance assessments need to keep pace to ensure alignment to business and IT outcomes.
Core modernization touches nearly every operation within the insurer. There’s no such thing as a seamless, picture-perfect program. Risks are inherent in every stage.
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