Back to the future

In the 1960s, insurance companies were among the first commercial enterprises to invest heavily in computer technology. But rather than reaping the benefits of their foresight, many large organisations have since slipped back, and are processing up to 70% of vital business data on legacy systems that, on average, first saw the light of day in 1990.

Bearing in mind the major advances in IT over the past 13 years, these systems have become 'antiques', requiring constant and expensive programmin