(Editor's note: Occasionally, we ask an insurance technologyleader a single question to elicit a response that will enlightenand inform the Technology channel readership. If you would like toparticipate, contact the editor at [email protected])

This Week's Question: How do you extractmaximum value from system configurability throughout theenterprise?

Heather Peacock, executive vice president, clientservices & delivery, OneShield: Today, it is a giventhat all modern core systems are configurable, but few systemstruly provide the advanced configurability insurance companies needfor the future. The industry has come to expect that the productareas—rates, rules, forms, and product definitions—areconfigurable.

However, not only do products change rapidly, so do customerpreferences, distribution demands, operating demands, reinsuranceprocesses, and servicestandards. Thus, for the core systementerprise to benefit from configuration advantages, theconfiguration tool being used should also allow design of workloadmanagement, system-wide workflow, policy lifecycle, partner andcustomer management, security, user interface, integration, andmore.

As you might imagine, the more configurable the system, the moreextensive the configuration tool, and ostensibly, the more itextends the ability to maintain and control the system throughoutdepartments in an organization. This means a broader group ofstaff within an insurance organization can take advantage of havingcontrol over areas of the system where their direct skills andexperience can add real value to how the system is used within theenterprise.

For example, it provides the business areas with the ability tomaintain product areas of the system directly, while administratorsmaintain control over the security features and the IT groupmaintains control over operational workflows, complex functions andintegrations.

After thoughtful consideration of what complete configurabilitycan mean to the organization, it is equally important to includesafeguards for the implementation and long-term maintenance of sucha system. Since the possibilities can be limitless, a strongIT data management and data promotion policy is important. And, while the power to make changes that benefit across theenterprise is crucial, companies can decide whether a decentralizedor centralized maintenance team is the best approach.

True configuration can bring value to the entire enterprise,putting the experts in control of their respective areas. Insurers can gain a real competitive advantage from theflexibility, speed and cost savings of a configurable system thatdoes not inhibit the business goals. Further, giving the businessand operations staff the power to modify the system rapidly at alllevels allows unprecedented speed, precision in the market, andoperational efficiency.

Heather Peacock is the executive vice president of clientdelivery and services for OneShield, Inc. She can be reachedfor further insights and comment via email at [email protected].