WEBINAR | Tackling Your Legacy Challenges: Holistic Digital Transformation for Insurers

Session agenda #

• The three root causes of transformation failure: mindset, silos, and sustained commitment
• Where insurers are finding success: capital spend, core systems, and intelligent automation
• Data strategy as a transformation pillar: quality, governance, and AI readiness
• Organizational considerations: staffing, partnerships, and the full stakeholder ecosystem
• What to do with legacy core systems and the data on them

What you'll learn #

• Why digital transformation fails and why the root cause is almost never the technology itself
• How to break out of the silo trap and modernize across the full insurance value chain, not just one department at a time
• What separates insurers who succeed in transformation from those who stall, overspend, and revert to workarounds
• Why data quality is the make-or-break factor for AI and automation, and what to do about legacy data that's anything but clean
• How to build and sustain C-suite commitment across a multi-year transformation program
• What to do (and what not to do) with legacy core systems and the data sitting on them
• How to structure partnerships — internal and external — to reduce risk and accelerate results

Key insights from this session #

Culture and mindset drive transformation, not technology #

The real challenge isn't swapping systems; it's unwinding decades of institutionalized workarounds and equipping organizations to genuinely operate differently. Business processes at most carriers haven't fundamentally changed in two centuries. Technology has layered on top; the underlying logic hasn't.

Modernization in silos creates a roller coaster, not a transformation #

Insurers who modernize one system at a time consistently fail to realize the full value of their investment. True transformation means viewing the organization as a single ecosystem and driving change across the entire insurance value chain.

Legacy systems are internal competitive threats #

Legacy systems compete with strategic initiatives for time, budget, and attention. The numbers are stark: 54% of billing systems in the industry were implemented in the 1990s, and the talent pipeline to maintain them is drying up.

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The industry has historically treated data as a byproduct of systems, rarely governed for quality. As carriers rush to deploy AI, that gap is becoming a critical liability. Decades-old underwriting rules also carry embedded biases that AI models can amplify rather than correct.

C-suite commitment is non-negotiable and must be sustained #

Every panelist agreed: transformation without a top-down mandate will stall. When costs overrun and timelines slip (and they will), the temptation to pause is exactly where most programs fail.

Partnerships are wider than most organizations think #

Think beyond IT vendors. Distribution partners, reinsurers, actuarial teams, print centers, and operations all need to be on board. Exclude any of them, and expensive surprises will follow.

About our expert speakers #

Gina Castañeda, Member Relations Manager, Latin America and the Caribbean, LIMRA and LOMA #

Gina facilitates executive-level conversations on the topics shaping the future of the insurance industry across the Latin America and Caribbean region for LIMRA and LOMA.

Kartik Sakthivel, Former Chief Information Officer, LIMRA and LOMA #

Kartik leads technology strategy and data innovation for LIMRA and LOMA, serving members across more than 70 countries. He spearheaded LIMRA's research partnership with McKinsey & Company to benchmark legacy system challenges across the industry and is a frequent voice on data quality, AI readiness, and what it takes to equip insurance organizations for a digital future.

Keith Raymond, Principal Analyst, Insurance, Celent #

Keith leads insurance technology research at Celent with a focus on core systems modernization and intelligent automation. He facilitates Celent's annual Insurer Model Award process, recognizing carriers who have successfully driven transformation through culture, leadership, and technology adoption.

Mark Christman, Former Vice President, Data Migration, UCT (now Partner, Insurance, IBM) #

Mark oversaw data migration strategy and execution at UCT, a firm specializing in insurance data transformation and legacy system conversions. He brings a practitioner's perspective on the organizational and data governance challenges that determine whether a transformation program delivers its full value.

Continue exploring insurance digital transformation #

Deepen your knowledge with these related Equisoft resources:

• Maximizing Value in Life Insurance Digital Transformation Projects — Practical principles for extracting full value from transformation programs, from scoping to governance.
• Insurance Data Migration & Transformation — A deep-dive into the data challenges that derail PAS modernization programs and how to get ahead of them.
• How Modern Policy Administration Systems Improve Customer Experience — How API-driven PAS architecture unlocks integration with advisor platforms, mobile apps, and CRM systems.
• Life Accelerated Podcast — Host Olivier Lafontaine explores the transformation strategies of life insurance carriers in conversation with top industry executives.