Many life insurance and annuity companies have embarked on a digital transformation journey. But it can be difficult for them to successfully embrace their digital future and realize all of the associated benefits when they still have twenty or thirty-year-old legacy systems in their administrative environment.
These outdated systems make new product innovation very difficult and costly — both in terms of dollars and time. This can greatly increase the risk that life insurers and annuity companies will fall behind their traditional competitors and the newer, born-digital companies that don’t face the same legacy challenges.
In this short video, watch Equisoft’s CEO Luis Romero talk about the legacy challenges companies face.
In order to accelerate and maximize the value of these transformation projects, insurers are implementing consolidation strategies that enable larger returns on their core transformation investment.
Universal Conversion Technologies (UCT), an Equisoft subsidiary, is a leader in data migration who provides sound technical advice and end-to-end data migration solutions that will put your organization on the road to unlocking the hidden value in your enterprise legacy systems.