Blog | Policy Administration

Prudential Plucks Paper from Policy Process
January 10, 2012 @ 10:44 AM | By Nathan Golia

The company's EPreview initiative, which allowed underwriters to review policies in PDF form rather than printing them out, won it an award from I&T sister publication InformationWeek.

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Gaining Leverage from a Policy Administration Replacement
November 29, 2011 @ 10:32 AM | By Imran Ilyas, PwC Advisory Services

Justifying the cost of a policy administration replacement can be a challenge for carriers because some of the benefits are indirect and don't surface until years later. But in the long run, you may find that the indirect benefits have the largest impact on overall profitability.

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Rethinking the Single-Platform Policy Admin Strategy
October 26, 2011 @ 08:18 AM | By Anthony O'Donnell

Consolidating down to a single policy administration system would be a dream-come-true for many insurance CIOs, but given the capabilities of modern systems architecture, it's not necessarily the right objective.

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MajescoMastek Investment in SEG Begins to Pay Dividends
October 21, 2011 @ 13:14 PM | By Anthony O'Donnell

Both the vendor and carriers shopping for modern life and annuity policy administration platforms will benefit from Elixir NA's debut implementation at Wawanesa Life.

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Don’t Short List Your Search of Core System Choices
October 13, 2011 @ 10:50 AM | By Bill Garvey, Eastern Shore Consulting

Exploring too few vendors introduces unnecessary risk into the selection process and may prevent you from finding the system that is best suited to your company's business strategy.

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P&C Policy Admin System Replacement: Be Careful Whom You Trust
October 11, 2011 @ 20:44 PM | By James M. Kerr, Best Practices Enterprise Group

Thinking that "industry experts" ought to manage one's policy administration system selection may be more about looking for an easy way out than a concern about whether technology should be a core competency for an insurance company.

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What Companies Should Consider When Exploring the New Government Mandate on E-Payments Initiatives
August 18, 2011 @ 10:48 AM | By Mike Tallitsch, WAUSAU Financial Systems

A survey of the technology landscape, showing more and more companies turning to e-payments and ways to expedite payments through integrated solutions, makes a case for going electronic that should put the most critical skeptics at ease.

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Ready, Fire, Aim! -- Don't Miss the Point of a Policy Administration Transformation
August 16, 2011 @ 12:03 PM | By Imran Ilyas, PwC Advisory Services

The convergence of aging legacy platforms, complex market demands, and a more mature vendor landscape have ushered in a unique period of policy administration transformation where it is possible for carriers to embark on this journey by taking on less risk than before but carriers who misapprehend drivers of their transformation programs risk firing at the wrong target.

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Government Mandate Gives the Insurance Industry's E-Payments Initiatives a Big Push
August 11, 2011 @ 15:07 PM | By Mike Tallitsch, WAUSAU Financial Systems

Reduction in paper processing is only the beginning of benefits insurers gain through the electrification of payments, including acceleration processing and clearing, reduction of errors, improving visibility into receivables, eliminate information float, plus a range of service enhancements.

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Reflections on Accenture's Emergence as a Multi-Tier Software Contender
August 11, 2011 @ 10:34 AM | By Anthony O'Donnell

Since the notorious suit against Guidewire, Accenture has abundantly clarified its status as a software provider and caused industry observers to energetically anticipate the meaning of its latest acquisition in terms of the insurance software competitive playing field.

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Telematics-Powered Auto Insurance Poised to Grow Rapidly
June 23, 2011 @ 11:48 AM | By Anthony O'Donnell

Under the influence of regulation, shifting consumer attitudes and thoughtful product development, usage-based insurance offerings have quietly caught on and now insurers and service providers are betting on growth.

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Gauging the Core Systems Modernization Opportunity at ACORD LOMA
May 26, 2011 @ 12:02 PM | By Anthony O'Donnell

The demonstrated maturity of newer core systems is reshaping the risk/reward ratio of modern systems, as vendors' shifting rhetoric reveals.

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How Can Insurers Get the Most Value from Their Policy Admin Systems Investments?
May 23, 2011 @ 02:22 AM | By Karen Furtado, SMA

SMA and I&T want to know how insurance companies are making decisions about PAS upgrades -- and if those investments are paying off.

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Are Insurers Getting Business Value from Their Policy Admin Systems Investments?
May 03, 2011 @ 12:18 PM | By Katherine Burger

SMA and Insurance & Technology partner on new research about goals, drivers and results of insurance industry investments in modern policy administration systems.

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Accommodating the Future: Securing Widescale Adoption of E-Bill and E-Pay
February 24, 2011 @ 11:24 AM | By Mike Tallitsch, WAUSAU Financial Systems

More consumers want to view and pay their insurance bills online, and insurers making the necessary technology investments now will be best prepared to realize quickly cost efficiencies and customer retention.

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Will Your Document Management System Soon Be Unsupported?
January 25, 2011 @ 12:15 PM | By Anthony O'Donnell

Carriers whose legacy document management platforms will soon be unsupported face a decision to either migrate or convert.

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What A Difference A Good Customer Portal Makes
December 06, 2010 @ 10:35 AM | By Nathan Golia

I recently moved from one part of Brooklyn to another, and when I called to update my renters' policy, I was told that the carrier I was with didn't write in the area to which I had moved. So, I went shopping for a new renters' insurance carrier.

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New Tech Increasingly Extends the Life of Legacy Policy Admin Systems
May 07, 2010 @ 13:26 PM | By Anthony O'Donnell

Newer technologies have provided increasingly effective means to extend the life of existing systems. For example, MajescoMastek has utilized service-oriented architecture (SOA) to build its service bridge offering, which unifies data from policy admin systems to branch office systems, new business systems and practically any other systems.

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Are Insurers Missing Out on the Value of Cash Management Technology?
February 08, 2010 @ 11:25 AM | By Nathan Conz

At Insurance & Technology, we always receive a fair amount of feedback regarding our editorial webcasts -- usually in the form Q&A submissions during the event or follow-up e-mails from attendees after the event has concluded. It's quite rare though to get feedback prior to the event.

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Consolidating Rating and Underwriting to Compete in the Modern Insurance Market
December 21, 2009 @ 14:52 PM | By Christine Hintze

Consolidating onto a single rating engine enables the agility and efficiency that insurers require to effectively compete in the modern insurance market. With a streamlined rating approach, insurers can rapidly adapt to market changes and capitalize on new business opportunities, while reducing IT costs to optimize profits.

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