Overcoming legacy challenges

In a recent webinar Helen Rogers shared her insights on how to tackle legacy technology, build a culture of high performance and ensure your initiatives are a success.

Tackling legacy technology & coping with the costs:

In the insurance industry, one of the most formidable challenges we face is managing the costs and justifying the investments required to transition from legacy to modern technology systems. It's crucial to recognise not just the immediate financial outlay but also the hidden costs of maintaining outdated applications. Legacy systems, while familiar, can be a drain on resources, both in terms of maintenance costs and lost opportunities for efficiency and growth.

Watch the clip to discover how Zurich UK have approached this challenges by building a solid foundation before pursuing new technologies, ensuring not to add complexity before they’re ready.

Tackling legacy technology & cultural change:

Transitioning from legacy systems to modern platforms like Guidewire is a journey many insurers are familiar with. At Zurich, their decade-long shift has brought significant advancements, especially in managing complex commercial and municipal claims.

In this clip, Helen Rogers talks about how the move away from outdated systems can be challenging but critical for staying competitive and meeting evolving customer expectations. One of the largest hurdles? Cultural adaptation. People grow comfortable with familiar systems, and change can be daunting.

Tackling legacy technology as building blocks:

"Forget trying to achieve a gold-plated product from the very beginning." This advice is crucial as we navigate the transition from legacy systems to more agile, modern technologies in the insurance sector.

Here Helen asserts that the journey should be viewed as building blocks, starting with a robust foundation that includes the essentials. From there, the system can evolve and adapt over time, accommodating new needs and opportunities.

Legacy systems often offer deep customization, which can make them appealing. However, the goal with modern technology should not be to recreate these in a newer system but to maintain flexibility. Keeping systems "vanilla" allows for easier updates and adjustments as industry demands shift.

Being open-minded about the capabilities and adaptability of new technologies is essential. Today's solutions are designed not just to meet current needs but to grow and change as your business does.