Gartner Research sees a continuing movement among p&c insurers toward policy system replacement in 2012 as the number of deals for core systems has increased each year for the past two years.
"Companies are facing legacy problems and the heritage of bad systems," says Kimberly Harris-Ferrante, vice president and distinguished analyst for Gartner. "It's not the majority, but it's more and more each year. A lot of money is being invested in policy, pricing engines, rating engines, claims systems, and even billing systems. That's definitely on the upswing."
Harris-Ferrante credits part of this movement to the technology progression in the industry, particularly the advancements made by vendors to offer free-standing policy or claims systems that allow carriers to purchase a single portion of the core, such as policy administration, and not have to buy billing and claims systems at the same time.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- 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? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
