Several long-established industries are considered ‘legacy’ — having little motivation to change and slow to adopt new, critical technologies.
Large, stable industries that provide essential or compulsory goods and services–like insurance–often fit squarely within this realm.
But in 2020, the COVID-19 pandemic forced business leaders in legacy verticals to quickly adapt their technological infrastructure to support the long-term remote workforce.
In the insurance industry, organizations already considering digital transformation sped up their plans. Some started nearly from scratch.
Leaders focused on innovations in areas like personalization, IoT, process digitization and even artificial intelligence. However, one essential area that is still frequently overlooked is the adoption of hybrid cloud models.