In today’s insurance industry, carriers face significant challenges due to outdated, cumbersome technology. As P&C Specialist highlights, even major players like Liberty Mutual have had to discontinue product lines due to the limitations of legacy systems, while others are struggling under the mounting costs of maintaining such infrastructure. These technology issues are pervasive but don’t have to be the end of profitable growth. VeracityID™ provides carriers with the ability to transform their risk management processes without the need for major, disruptive overhauls, allowing them to stay competitive in a fast-evolving market.
Integration Without Disruption – One of the biggest hurdles for carriers is the fear of disrupting core systems during upgrades. VeracityID™ addresses this head-on. Rather than forcing insurers to replace their legacy systems entirely, VeracityID’s idFusion™ platform integrates into a carrier’s existing technology. This happens smoothly – without requiring massive system rebuilds, lengthy downtimes, or costly risks. As a cloud-based solution working through APIs, idFusion™ complements and enhances legacy systems, providing real-time risk detection, fraud prevention, and predictive analytics – all without disrupting core operations.
Carriers that are currently locked into legacy environments – whether homegrown or not – are often slow to adapt because changes in these systems require dedicated staff, legacy programming languages, or excessive costs. With VeracityID™, carriers can modernize their risk management capabilities while keeping these legacy environments intact. idFusion™ allows carriers to introduce flexibility into otherwise rigid systems, reducing fraud and improving underwriting without sacrificing stability.
Controlled, Incremental Transformation – The strength of VeracityID™ lies in its ability to enable incremental but rapid change, reducing both technological and market risk. Carriers don’t need to undertake a full system overhaul or place big, inflexible bets on massive IT projects that are notorious for failure. Instead, VeracityID™ offers a user-configurable workflow that allows insurers to analyze real-time production data, make necessary adjustments to suspicious transactions, and feed them back into the process. This means you can deploy changes quickly.
This strategy allows carriers to control the pace and order of change – testing, evaluating, and revising as needed. It’s about making decisions with today’s information, not waiting for reports that may be outdated by the time they’re delivered. This agility is especially critical in a landscape where risks are evolving rapidly.
Accelerate, Don’t Overhaul – VeracityID™ extends the useful life of existing core systems by accelerating insurers’ ability to meet future and unexpected changes faster. Instead of waiting for expensive overhauls, idFusion™ helps carriers scale their performance and adapt to new risks – all at a lower cost and lower risk than traditional IT projects. Carriers are positioning themselves to outpace competitors and respond to emerging challenges with agility and confidence.
VeracityID™ doesn’t merely offer an “upgrade” – it offers a rapid, scalable transformation that ensures you can navigate today’s market challenges and be prepared for tomorrow’s unknowns, all while keeping your existing technology intact.
Transform your performance at scale – without the risks or costs of a full overhaul – with VeracityID™.
