Tipping Point for Transformation in Insurance
Tech Decisions Article Makes a Strong Case for Transformation – and that the Risk may lie in not doing it.
If you’re being forced to face up to the limits of aging systems, you may find this recent Tech Decisions article of interest. Authored by Ernst & Young LLP, the article looks at how the insurance industry has reached a tipping point where the predominant thinking shifts irreconcilably from “transforming is too risky” to “not transforming is too risky.” The article considers how new technologies, such as modern policy administration systems have provided a lower-risk path to transformation, why insurers should consider transforming now and how to properly plan for a successful implementation today.
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