With 2011, budgets holding within historically average ranges, insurer priorities are focused on core policy administration environments, agent portals, and business intelligence, all with a goal of improving business agility, insights, and service quality.
Those are the points taken from Novarica’s second annual state of the industry report, “Insurance Information Technology 2011: Across the Core Systems Map.”
Policy administration (including rating, underwriting, and product management) is the highest priority area for insurers in 2011, since it is critical to introducing or modifying products, serving customers and distributors, and sourcing data for BI, according to Matt Josefowicz, partner and managing director of Novarica.
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