This panel addresses the complex challenge of legacy system modernization while maintaining operational stability in insurance. With 249 legacy modernization mentions across 108 L/A/B companies and 167 digital transformation references in P&C, carriers face the fundamental "modernization paradox" of needing to rebuild systems without disrupting ongoing operations. The discussion explores the strategic shift from single-vendor ecosystems to best-of-breed approaches, cloud migration realities, and API investment priorities across customer-facing, partner, and internal system connectivity.

Critical challenges include building compelling business cases when immediate costs are clear but long-term benefits are harder to quantify, escaping decades-old vendor lock-in without operational chaos, and maintaining security during hybrid legacy-modern environments. The panel addresses change management complexities, optimal modernization sequencing strategies for core systems, and defining success metrics beyond traditional IT measures to demonstrate transformation value to C-suite executives.