Insurers face same legacy system battle as retail banks
The biggest barrier to insurance companies adopting digital technology is their heavy reliance on legacy IT systems
Insurance companies are set to be the next wave of financial firms to accelerate their digital transformation but, like retail banks before them, they face an old foe.
The hurdles insurers face result from the decades-old legacy IT systems they use, mainly Cobol-based, according to the latest report from Genpact’s research arm.
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