In the economic crisis that began the last decade, many insurers looked at IT as part of the problem. In the most recent economic crisis, IT has been viewed as part of the solution.
Martina Conlon, Principal, Insurance Practice, Novarica and Drew Birtwistle, Camilion Solutions discuss the strategic benefits, return on investment and market drivers for embracing product configuration as a key component of your policy admin system.
The last year didn't exactly deliver a rebound for insurers, but there are plenty of reasons for hope in 2010. Carriers are continuing to invest in technology that will allow them to begin a new chapter of growth.
There is no shortage of SaaS-based solutions for policy administration in the market, but is now the time for insurers to move this core system outside their own data center?
Almost a year ago we looked back on 2008 and remarked on three things: the financial state of the insurance industry, the corresponding software market, and the "arrival" in our market of giant software vendors.
A recent Novarica study found that improvements in claim handling was the second-most frequently cited initiative amongst P&C carriers looking to create competitive advantage.
Property and casualty insurers are faced with difficult choices when dealing with aging claims systems, which can't provide the high level of service that customers expect from their carriers today, one leading consultant warns.