Insurtech Engineering: Regulated Speed, Scalable Risk
An insurtech CTO once told me: "We're not a SaaS company. We're a SaaS company that sells a financial derivative." The distinction matters because insurance software doesn't just ship features — it ships risk models that regulators will probe on a five-year horizon. A bug in a claims service is a customer-support ticket. A bug in a pricing model is a filed regulatory complaint, a potentially mis-priced book of business, and a cleanup that measures in quarters rather than sprints.
Deloitte's 2024 Global Insurance Outlook reported that 47% of insurers cite legacy system modernization as their #1 engineering constraint. The teams doing that modernization are walking a tightrope: the regulators (EIOPA in the EU, NAIC in the US, Bank of Russia and Kazakhstan's AFSA in CIS markets) don't care that you adopted continuous deployment. They care that you can prove which version of your actuarial model priced a policy on a given date.