The problem is that many systems only allow for a two digit year when we input and print dates. The systems could guess the century by inference. You could theoretically have a problem even now if you wanted to record a person born in 1895, but that happens so rarely that no one usually notices. However, we are very quickly approaching the time when our policy expirations are going to approach the year 2000. Some policies with three year terms will be there in just a few months.
Policies expiring in five years are already there.
While the answer is obvious to anyone looking at the data, you would be making a grave mistake to assume that your computer knows that. It should be very simple for you to determine whether your system will be able to handle the change of the century. Just look at your various screens and see whether you put in four digit years or two digit years. If the answer is four, then everything is probably going to be fine. However, if the answer is two, it might be a good idea to ask your system vendor what is going to happen.