Celent has just issued a report that observes how a majority of insurance companies still tether their information requirements to “legacy” systems, but are gradually moving toward “modern” implementations.
As the report correctly observes, “carriers realize that this abundance of legacy code is inflexible and costly to maintain, and that it has large implications for their business.” The report, which queried 30 insurance system professionals, charts a good deal of progress. For example, while the 73 percent to 27 percent split between legacy and modern systems five years ago, currently the balance is 52 percent legacy and 48 percent modern. Celent estimates that the split will be 61% to 39% in favor of modern systems five years from now.
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