Tag: technical debt

Technology is the cornerstone of the modern insurance sector, yet grappling with technical debt remains a significant challenge for many insurers. Technical debt arises when shortcuts in IT infrastructure accumulate, impeding sustained and robust practices for long-term growth, as Hyperexponential explain.

Within the realms of specialty and commercial insurance, there's a heightened focus on precision. These particular markets demand more than just the usual numerical analysis when it comes to policy pricing. For them, pricing is not only a combination of art and science but also a strategic influencer. As the world embraces digital advancements, those who manage to break free from traditional practices dominate the industry.