Filed Under:Markets, Workers Compensation

Novarica Study: Policy Admin Projects Show Improved Speed-to-Market, Data Accessibility

More than half of p&c insurers who have implemented new policy administration systems report improvements of more than 25 percent in speed to market and data accessibility, as well as gains in business user satisfaction, distributor service, and reduced technology risk, according to a new study by the research and advisory firm Novarica.

The report examines 37 recent cases involving policy administration system implementations. Novarica finds that 25 percent of large P&C insurers and 40 percent of midsize p&c insurers are either in the middle of a policy administration system replacement project or are planning to begin one in 2012.

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