Insurtech can solve many of insurers’ problems, but it’s not magic. In this guide, we explore the below 6 myths surrounding insurtech to give you a better understanding of what it can and can’t do for your business.
Myth #1 - Upgrading Legacy Systems Instantly Reduces IT Costs
Myth #2 - Upgrading Legacy Systems Increases Productivity
Myth #3 - The Performance Metrics of a Company will Automatically Increase After Adopting Insurtech
Myth #4 - Insurtech Platforms Will Automatically Update Your Business Best Practices
Myth #5 - Insurtech Is a ‘Magic Wand’ for All Insurance Issues
Myth #6 - Upgrades from Legacy Systems Must be to the Latest Technology