The recent Novarica report on policy administration systems reminded me that the property & casualty insurance world is once again getting both busy and interesting.
As we've learned over the years, every insurance carrier has its own needs so there is no "typical" carrier. It is interesting to note, though, that the vast majority of insurers surveyed by Novarica are planning to do some type of work on their policy systems in 2012.
The Novarica report showed that only 28 percent of large carriers are going to maintain their systems this year rather than make minor enhancements (28 percent); make major enhancements (13 percent); begin a replacement project (9 percent); or continue replacement already in progress (13 percent).
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