Artificial intelligence is rapidly becoming central to how businesses operate, but its success depends on one critical foundation—data. In industries like insurance, where legacy systems and scattered data are common, the promise of AI is often held back by outdated infrastructure and poor data quality. Simply migrating data from old systems to new ones is not enough.
In this episode of InsurTech Amplified, Mike Allee, President at Universal Conversion Technologies, explores how the insurance industry must confront its legacy data challenges to truly benefit from AI. While AI offers massive potential, it cannot function effectively without high-quality, well-structured data.
Mike emphasizes that moving data is only part of the solution—insurers must also reshape it for AI use, taking care to comply with local regulations and ethical considerations like data sovereignty and consumer consent.
Mike also highlights a shift in thinking where data governance is no longer just a back-office task—it’s becoming a strategic driver. Some forward-thinking insurers are now using governance teams as gatekeepers for tech investments, ensuring that AI is deployed responsibly and effectively. Importantly, AI itself is being used to assist in data cleansing and validation, helping insurers prepare their systems for transformation. This marks a significant change: data is no longer just a tool for reporting—it is a strategic asset driving business transformation in the age of AI.