The current abundance of data is placing a demand on insurers to evaluate how well their policy administration systems (PAS) extract, import and synthesize these various information streams. (Shutterstock)

The very notion of what has always been the core operating requirement of an insurer — policy administration — is changing. Today's systems are not your father's idea of policy administration. Data has been knocking on the policy administration system (PAS) door for some time. Now there is an explosion of data and a growing amount of smart data from artificial intelligence (AI) and machine learning (ML). As a result, the venerable PAS is getting a new job description.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 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.

Commercial Lines
E&S/Specialty
Personal Lines
Reinsurance
Workers' Comp
Loss Control
Analytics & Data
Technology Solutions