Finextra: Insurance tech – should legacy applications stand in the way of innovation?

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The insurance industry is ripe with innovation. Tempted by the fruits of technological change, insurers seek greater opportunities for data collection, smart, adaptive policies and fraud detection that can lead to better risk identification and mitigation measures.

For traditional players, existing IT infrastructure stands firmly in the way of this drive. Legacy mainframe systems, commonly buried deep in the bedrock of enterprise IT, are at the heart of their challenge.

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