As technology has forced insurers to reimagine the promotion of their products, there also has been a massive transformation in the structure their business, forcing carriers to throw out legacy practices that date back decades.
"The first wave of core transformation for the last five years was about modernizing the system," Imran Ilyas, PwC partner in Insurance Advisory Services, told PC360. "Carriers and executives are smart now and are looking to leap frog ahead of the completion as a result of core system transformation."
And this is going to be game-changing for the P&C industry, according to PwC.
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