Legacy Data vs Legacy IT: Overcoming the Challenge and Realizing the Opportunity

Executive Boardroom - 2:45 pm - 3:10 pm

In today's evolving insurance market, being stuck with complex, inefficient systems limits your ability to optimize the customer experience, hampers revenue opportunities, and magnifies operational costs across lines of business. While many traditional insurers continue to struggle with the challenges posed by legacy IT systems and processes, industry innovators are discovering new ways to operationalize their data to leverage advanced analytics, AI & Machine Learning capabilities to transform their business. Drawing upon recently launched industry research and existing customer examples, MarkLogic's Chief Strategy Officer for Insurance, Steve Forcash will discuss the opportunity that exists for insurance firms to leverage all their data to their advantage.

Key takeaways:

Determine key data management issues currently experienced across firms;
Identify operational inefficiencies relating to legacy IT systems;
Highlight areas where a modern, efficient and cost-effective way to integrate data across the business could benefit the firm;
Examine the threat of new Insurtech start-ups who aren't hindered by legacy systems and
Understand the opportunity established players have by utilising their legacy data.