Property/casualty insurers are faced with difficult choices when dealing with aging claim systems, which can't provide the high level of service that customers expect from their insurance carriers today, according to Karlyn Carnahan, principal in the insurance practice at the research and consulting firm Novarica.
Carnahan was one of several speakers taking part in a web seminar on the outlook for claim technology in 2010. The event was sponsored by Tech Decisions and Claims magazines. The panel included Mike Anselmo, CIO of Narragansett Bay Insurance Company (NBIC); Bob Khosropur, chief claim officer for NBIC; and Riki Fujitani, president of BlueWave Technology. Eric Gilkey, editor in chief of Claims, served as moderator.
Keeping an older system in operation is a serious problem for insurers because many legacy systems have proven to be expensive to maintain, according to Carnahan. "You have old code and fewer people who know how to manage that code," she said.
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