In the latest episode of the iLife Insights Podcast, Nelson Lee, Founder and CEO of iLife Technologies, and Steve Robinson, Chief Revenue Officer of iLife Technologies, are joined by Kartik Sakthivel, PhD, Vice President and Chief Information Officer for LIMRA, LOMA, and LL Global. Kartik is an accomplished thought leader in the field of digital transformation and AI, a TEDx speaker, and the author of three books on leadership and AI, including Find Your Red Cape and DNAI. Named ORBIE CIO of the Year in 2024, Kartik brings a wealth of knowledge on modernizing legacy systems and coaching the next generation of leadership in the insurance industry.
In this episode, they delve into the most pressing challenges insurance carriers face today, from navigating legacy systems and technical debt to unlocking the future of insurance through APIs and AI.
Unlocking Innovation: The Future of Insurance with APIs and AI
In this insightful episode, Steve Robinson, CRO of iLife Technologies, and Nelson Lee, CEO of iLife, are joined by Kartik Sakthivel, PhD, Vice President and CIO of LIMRA, LOMA, and LL Global, to explore some of the most pressing challenges facing today’s insurance carriers. The conversation kicks off with a deep dive into the complexities of legacy systems—described as the “albatross” around the neck of the insurance industry—and how cultural resistance to change within organizations often hinders modernization efforts.
Kartik shares his perspective on how carriers can tackle these challenges by addressing organizational silos and technical debt, emphasizing the importance of sustained investment in modernization and the need for cohesive digital transformation across all departments. The discussion highlights how these obstacles can prevent carriers from fully leveraging emerging technologies like AI.
APIs: The Key to Carrier-Distributor Connectivity
A significant focus of the discussion is iLife’s Universal API, which is designed to empower better carrier-distributor connectivity and bridge the gap between outdated carrier systems and modern, cloud-based infrastructure. By reducing reliance on hardcoded, custom-built solutions, the Universal API simplifies integration across systems, making it easier for carriers to onboard new distributors and launch products faster. Kartik and Nelson explore how this API-driven approach allows for more seamless data exchange and workflow optimization, providing a scalable solution to one of the industry’s most persistent problems—legacy systems that cannot easily integrate with modern digital platforms.
AI’s Role in Shaping the Future of Insurance
The conversation also delves into the growing role of AI within the insurance industry. Kartik explains how AI, particularly generative AI, holds the potential to transform operational efficiency by automating routine tasks such as underwriting and claims processing. However, before reaping these benefits, carriers must first address the quality of their data and modernize their legacy systems. As Kartik notes, “AI is seductive, but you can’t have great AI with bad data.” Ensuring data readiness is essential for carriers that want to leverage AI effectively and avoid the risks of misinformation or “AI hallucinations.”
Final Thoughts
This podcast episode provides practical insights for insurance executives, CIOs, and CTOs looking to future-proof their organizations. From insurance APIs that bridge legacy systems to the AI-driven future of insurance, the discussion highlights key strategies for overcoming the industry’s biggest challenges. Kartik, Nelson, and Steve leave listeners with a clear message: modernizing digital infrastructure isn’t just about technology—it’s about fostering a culture of innovation that will drive success in the years ahead.
Listen to the full podcast episode above, and explore more of iLife’s resources.
