The Price of Tech Debt: Legacy Systems’ Impact on Insurers

Levvel Research’s top industry analysts surveyed hundreds of professionals across various industries to uncover their biggest challenges in meeting business objectives. This executive report highlights the findings specifically from insurance respondents. Our research team found insurance respondents want to innovate—but many feel like their hands are tied by their own industry concerns; namely, ensuring strong security, lowering tech debt, and reducing their dependence on outdated, inefficient systems. In fact, data shows that dependence on legacy systems has a direct impact on an insurance organization’s ability to meet its business goals, revealing a crucial connection between underlying infrastructure, software design, process, culture, and a company’s time-to-market.

This report highlights the symptoms of outdated legacy systems for insurance companies and offers vital business solutions and strategies on modernization and improving business success. Continue on to access our leading insurance executive report and data without the commitment of a subscription or fee.

Insights and data included:

• Benchmarks of your peers around legacy systems dependence and cloud migration rates, IT management costs, and other metrics
• The top concerns and priorities of technology decision-makers
• Maturity models, tools to assess your insurance organization’s modernization state, and much more

Modernization is the digital transformation game-changer—it helps insurance companies maintain competitive parity, allows them to adjust their business and operational models during market disruption (e.g., the need to support remote workforces due to the COVID-19 pandemic), and perhaps most importantly, it improves a company’s ability to build and improve their products and better serve their customers.