Did you see the article in The Economist about the future of insurance (Run for Cover)? It got us thinking about how the sector can fix its approach to digital transformation. There are no easy answers. But insurers that choose to take action have an opportunity to close that growing gap between current offerings and what today’s customers need.
A major factor thwarting transformation is technical debt. All those little decisions to save time, money and effort accumulate. Ultimately, in the words of our co-founder Steve Thair, they become ‘the sand in the gears causing IT initiatives to grind to a halt’.
Insurance Edge magazine has published Steve’s thoughts on technical debt and the insurance sector. He quantifies technical debt in a tangible way. And he suggests that if it were carried on the balance sheet like other liabilities, it would make the Board’s hair stand on end.
Want to find out more? Click below to read the full article.