As more insurance IT leaders consider the fate of their company's policy administration system, the question arises: tools based or code based? There is no right or wrong answer, only a need to examine the strengths of your IT department and how each system might best fit your company's needs.
BY ROBERT REGIS HYLE
The debate continues over the benefits of a tools-based vs. a code-based policy administration system, but Celent Communications senior analyst Chad Hersh feels selecting one over the other sometimes can be confusing. If you look at the market for policy administration systems, with a few exceptions, most of the tools-based solutions still require some work in the code and most of the code-based solutions have some tools to work with, he says. That being said, its getting to be close to an even split between tools-based and code-based systems.
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