Credit: Limitless Visions/Adobe Stock

Legacy technology systems and infrastructure are blocking the adoption of digital tools and new ways of working at insurance companies. That's the consensus of nearly half of the 200 insurance executives recently surveyed by EPAM Systems, a digital transformation services and product engineering company.

Additionally, more than one-third (39%) or all respondents representing both commercial and consumer lines said legacy technology is slowing innovation and change across the business, while 34% claimed it is preventing them from getting new products and services to market quickly. Fewer than half consider their companies "advanced" in the main areas of business evolution.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Benefits Sales Strategies
Practice Management
C-Suite
HR Technology