Insurers are split over how best to update legacy
systems and deal with the widespread of lack of IT integration that
affects the industry, according to research conducted by
theEconomist Intelligence Uniton behalf of BT Global Services.
Whereas 37% of insurers' questions said they planned to upgrade
existing legacy systems, 42% said they would rather adopt new
ones.
But some 38% of insurers – both life and non-life – admit their
current systems are hindering their ability to be agile and in
particular to target existing and new customers to generate more
business.
Andy Nicholson, managing director of finance industry solutions
for BT Global Services UK, said, “UK insurers have set tough
targets for the future and are looking increasingly at tools which
will help them face up to and capitalise on new opportunities.”
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