Learnings from an insurance firm

In the past 10 years, the insurance industry has withstood numerous mergers and acquisitions. For many firms this resulted in a complex web of legacy and internal IT systems. When it comes to investment management systems, more is not merrier. Firms with spaghetti architecture are now dealing with operational inefficiencies and unnecessary cost and risk.

The 2023 InvestOps report showed us that insurers recognize a need to address the situation, as many said they are prioritizing investment in tech innovation.

Recently we shared an example from a North American client who is saving USD 50M annually after consolidating several legacy systems.

Here we share some learnings from that client’s experiences.

Key takeaways

By taking a systematic and strategic approach, setting clear goals, managing strategic and tactical stakeholders effectively, and selecting the right partners, you can navigate the consolidation process successfully and reap the benefits of improved operational efficiency and reduced risks.

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