As we embark on a new year, I’m reflecting on conversations I’ve had in the past year with many industry thought leaders and insurance executives who have opined about the future of insurance. I’m also pondering how much was written about the innovations and market disruption from technology advances (e.g., digitalization, the Internet of Things, big data, mobility etc.) and the shift in consumer experience from companies such as Amazon.com, Apple, and Google. The great news for 2015 is that opportunities exist to innovate like never before, in both the product space and the consumer experience. I’m not going to rehash all of those opportunities, though, since I’d rather talk about the number one barrier to achieving them—the hindrance of legacy systems and the aversion to the risk of replacing them.