We asked Jeffrey Glazer, CEO of Insurity, what questions are missing from requests for proposals that are sent to his company. He responded that carriers need to dig deeper on issues such as experience, vendor resources, and references.
What are carriers missing when it comes to core system RFPs?
An RFP for a core system replacement is a valuable tool to outline extensive requirements and the ways that the functionality and features of the proposed software meet those needs. It can be exhaustive: dozens of pages, hundreds of questions, countless angles, and sent to multiple vendors. After evaluating all of the yes and no responses, and supporting narratives , it might seem that those answers alone should be all a carrier needs to make a decision. But there are three questions that insurance carriers might consider asking on their RFPs that are often overlooked. The answers to these questions are crucial to ensuring that the right vendor—as well as the right software—is chosen.
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