Vendors are showing progress in meeting insurer demands with respect to policy administration systems, but insurer representatives and analysts say carriers would like to see further improvement in the areas of straight-through processing, configurability, and standardization.
In a new report titled “Trends and Predictions for P&C Policy Administration Systems 2009,” analyst firm Celent offered views on what can be expected in the near future. Improvements in business automation, configurability, and usability and design were among the latest trends, and insurers acknowledge vendors have made strides in these areas in recent years.
One of the report's authors, Jeff Goldberg, senior analyst in Celent's insurance practice, points to other new features now available, such as electronic communication with agents and customers.
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