In today's world, insurers are under pressure from a variety of sources, including increased competition, rising risks, and onerous laws. When it comes to tackling these issues, many insurance leaders are lagging behind. However, the leading insurers maintain a secret. In order to reduce operational costs, they are turning to automation, and they are putting automation at the core of their operating model.

The insurer's capacity to grow and control operational expenses, business demands, and client expectations is being hampered by outdated P&C insurance technology infrastructure (legacy policy and underwriting systems). A comprehensive current technology system can complete tasks fast and efficiently whereas outdated software requires more resources to complete. Many statutory reports and required audit reports must be shared with governing authorities and oversight organizations. Companies devote a lot of time and human resources in creating and reviewing these reports.