DIGITAL TRANSFORMATION
“ IN THE CURRENT MACROECONOMIC CLIMATE , A FULL ‘ RIP AND REPLACE ’ STRATEGY FOR LEGACY SYSTEMS MAY PROVE TOO COSTLY AND RISKY ”
MARIANA HENRIQUES PRODUCT MARKETING DIRECTOR , INSURANCE AT FINTECHOS
pandemic , there have been massive moves within the space to bring to market digital innovations and technologies .
Mariana Henriques , Product Marketing Director , Insurance at FintechOS , explains her view of the industry and its current catch-up conundrum . “ The insurance industry has definitely lagged behind others , like banking , when it comes to digital transformation . Though insurers have already taken major steps towards digitising their business models and the way they engage with customers , there ’ s still much to be done .
“ One of the main challenges for insurers has been the complexity of their business models , which adds to the complexities of deploying and using the technologies themselves .”
Henriques points out that , because the insurance industry has been regulated for a considerable amount of time , updating it has been more complicated . “ Being a highly regulated industry – with a complex product portfolio and distribution network – means added complexity in the processes and technology stack needed to support
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