Introducing Insurance & Technology's Policy Administration Resource Center
February 09, 2007 @ 15:17 PM | By Kathy Burger
It may be true that insurance is sold, not bought, but the real foundation of the business is the policy -- the contract that represents what often is a lifelong relationship between customer and carrier. The terms, pricing and administration of the policy reflect not only the needs and financial circumstances of the policyholder, but also the performance and compensation of an agent or distributor; the capabilities of the insurer, in terms of underwriting, product development, billing and customer service; and the regulatory environment. No wonder there's so much debate about when, how and why to replace legacy policy admin systems and migrate to new systems. The stakes are high, and the proverbial risks and rewards are huge for companies that make the right -- or wrong -- choices about solutions, vendor and integrator partners, and platforms/operating environments. To that end, Insurance & Technology is launching the Policy Administration Resource Center, an online forum for analysis, debate and education about policy administration and the next generation of solutions and technologies that can help insurers maximize their investments in this area.continued...
Reshaping Policy Administration
February 09, 2007 @ 15:16 PM | By Paul McDonnell
There is a strong trend among property and casualty (P&C) carriers to adopt a new breed of policy administration systems. These component-based solutions offer the opportunity to improve customer management, expand distribution channels and upgrade enterprise information management.continued...