InsurTech: Following the evolution of core systems

As property & casualty insurance changes to meet carriers’ objectives for creating unique products, so must the systems for housing and maintaining their data. (Photo: everything possible/Shutterstock)

In providing mission-critical functionality for running the central operational functions of P&C carriers — from product development to underwriting, rating, billing, claims and beyond — core systems are critical to enabling carriers’ success.

From personal lines to commercial and specialty, whether a carrier’s primary objective is creating highly differentiated products, enhancing customer experiences, innovating new business models or simply trying to become more operationally efficient, core systems are a key enabler of being able to execute on strategy.