X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Neil Betteridge, Director, Product Marketing, Guidewire Software

Our current difficult economic environment has not diminished insurers’ interest in addressing the challenges posed by legacy core systems. Replacing aging policy admin systems continues to be a top priority project for property/casualty insurers in 2010. While the need is widely acknowledged, building the business case to proceed with the major undertaking of replacing one, or more, policy systems has sometimes posed a challenge. There are a number of areas where significant hard and soft benefits can be realized from a new underwriting and policy administration system.

Business Agility

In some of my conversations with insurer business executives over the past few months I was struck by a disheartening sense of d?j? vu. These experienced, resourceful managers had assessed the challenging, dynamic market environment their companies are operating in and identified a range of possible strategies and actions to compete effectively and improve results. Regrettably, far too many of their ideas were still being thwarted by limitations imposed by inflexible legacy systems. Gaining the business agility needed to offer the right products, and adapt processes to do so efficiently in a manner agents and customers expect is a critical imperative.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.