Episode description

On this week’s The Leadership in Insurance Podcast 🎧I talk with Denise Garth, Chief Strategy Officer at Majesco where we take a deep dive into the topic of the moment Gen AI and why the ROI of removing legacy tech debt is higher than you think.

We discussed how insurance is at a crossroads ,🎌with changing risks due to climate change and changing buyer demographics amongst other drivers, and why insurers need to take a step back and take time to review their business systems and technology models - in particular their 💽legacy debt to really activate innovation and productivity. 

➡️Moving away from legacy technology allows organisations to get product to market quicker, better manage or even reduce risk, improve underwriting using AI, as well as activate overall productivity gains through the use of Gen AI (👇 listen in for some impressive stats on the impact of moving away from legacy tech debt)

We also discuss how growing availability of high quality data and increasing use of 💻AI/Gen AI is creating a challenge for insurance leaders who are now also running technology businesses. It also changes who we need to hire into the insurance world – with more of a focus on genuine knowledge workers who can make decisions based on insights produced by AI, instead of keying in and out data.

Give this one a listen via the link in the comment below 👇 👇 👇

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