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After a year as challenging as 2020, insurance professionals and insureds looking at 2021 with a positive outlook. But that doesn’t mean they are resting on their laurels. Now is the time for agents, brokers, and insurers to strategize for the months ahead. These articles provide insights into the insurance and risk management trends to keep top-of-mind this year.
While it is not unheard of for insurers to devote 80% of their IT budgets to maintaining legacy systems, Duck Creek reported there are four solutions to rectify issues with outdated systems. (Credit: treety/Shutterstock.com)The insurance industry has been in a state of flux, with new technologies, data-driven processes and growing customer demands being major drivers behind this time of change. And while many changes are good — such as the digital transformation of insurance and what that has meant for companies and customers alike — some of these changes have resulted in the industry facing its share of new challenges.
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