Out of the Box

For years, we’ve been beating the drums for policy administration replacement, almost talking ad nauseam–but the message finally is coming through,” says Stephen Forte, senior research analyst in the P&C sector at Gartner.

The surge in policy administration projects is due to many business factors that have been highlighted in Tech Decisions in recent months: the inability of legacy platforms to respond quickly to business demands; the need to reduce the oft-cited 80 percent of the IT budget relegated to maintenance of aging platforms; and the upturn in financial fortunes of insurers that has freed up IT budgets, to name three.