For decades, insurers have relied on legacy platforms to manage policies and claims. But as customer expectations rise and digital competition accelerates, those platforms have become a liability. In an article for the International Travel & Health Insurance Journal (ITIJ), Elliott Draga, Chief Commercial Officer at Nordic Insurance Software (NIS), outlined why now is the time to modernise and how insurers can make the leap successfully.
Why Legacy Holds Insurers Back
Legacy systems often limit flexibility, slow down product launches, and make integration with digital-first services costly and complex. As Draga explains, modern platforms enable:
- Faster time to market for new solutions.
- Greater flexibility to respond to customer needs.
- Stronger connectivity with today’s always-on digital world.
“Modern systems provide increased flexibility, decreased time to market for new solutions, and the ability to better interact with our ever-connected world,” Draga wrote in ITIJ.
Strategies for Modernisation
Draga highlighted three key strategies to avoid common pitfalls in transformation projects:
- Start with the Right Scope
Don’t attempt to replace everything at once. Instead, prioritise the most critical systems and implement upgrades in phases. - Plan Realistically
Avoid over-promising timelines or ROI. Legacy transformation is complex; setting achievable metrics increases the chance of long-term success. - Build the Right Team
Successful projects require strong executive oversight, experienced project managers, and dedicated subject matter experts.
Implementation Insights
When transitioning, governance and communication are critical. Misalignment between project teams can lead to delays and budget overruns.
Draga also emphasised a principle NIS champions: adopt, not adapt. Insurers should adapt their processes to leverage the strengths of modern technology, rather than forcing new systems to replicate outdated workflows.
Why Partnering Matters
Working with an experienced vendor like NIS provides insurers with:
- Proven core platforms continuously enhanced over 20+ years.
- A global customer base that drives regular, sustainable innovation.
- Configurable, no-code tools to support complex lines such as travel, pet, and expatriate health.
This approach ensures insurers not only modernise successfully but also keep pace with future change.
Read the Full Article
To explore Elliott Draga’s full perspective, read his piece in International Travel & Health Insurance Journal: Now’s the time for the insurance industry to move away from legacy platforms (ITIJ)
