From a survey of property/casualty insurance carriers, Accenture has determined policy administration systems are overburdened and not meeting the market demands for growth, adaptability, and standardization.

So, it should not come as a surprise the consulting firm found 84 percent of those surveyed see modernization of their policy administration systems as a key priority over the next three years.

Insurers told Accenture the need for speed to market and greater flexibility in improving processes are the drivers for system improvements.

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