Blog | Policy Administration

4 Key Benefits of SaaS Automated Systems for Life Insurers
May 23, 2013 @ 10:37 AM | By Mitch Ludwig- Accenture Software.

The potential benefits of automated systems for new business and underwriting – in terms of speed, accuracy, cost reduction and improved service – make for a compelling value proposition.

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Underwriting Technology Matures: The Birth and Rise
May 07, 2013 @ 12:54 PM | By Gail McGiffin- Ernst & Young LLP

The next generation of underwriting talent will grow and thrive not by the oral history passed along from the prior generation, but by the ability to provide an environment fueled by superior rules, insight-driven analytics, real-time collaboration and faster execution.

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What Commercial Insurers Can Learn from Manufacturers
May 06, 2013 @ 10:49 AM | By Gail McGiffin- Ernst & Young LLP

Advances in the manufacturing industry provide a model for insurers to build innovative products.

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Insurance CIOs Should Turn Conventional Transformational Wisdom on its Head
May 03, 2013 @ 10:59 AM | By Anthony O'Donnell

X by 2's Ram Sundaram says insurers pursuing IT transformation should do the opposite of five rules that represent conventional wisdom.

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Humana's SmartVideo Personalized Statements Will Engage Customers
April 25, 2013 @ 20:49 PM | By Anthony O'Donnell

The insurer's use of SundaySky’s SmartVideo technology improves customer experience by rendering complex information easily intelligible.

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You Need to Replace Your Policy Admin System — But Are You Ready?
March 13, 2013 @ 12:00 PM | By By Andy Scurto- ISCS

Deciding that the time is right for core policy system replacement isn’t the same as being ready to do so, but mistaking the two is a common trap for insurers to fall into.

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Achieving Technology Self-Sufficiency Requires a Marathon, Not a Sprint
January 14, 2013 @ 11:43 AM | By Mark Cummings- Sapiens

While independence from the solution provider sounds attractive, self-sufficiency doesn’t come without a learning curve, challenges, and risks.

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Making Your Mainframe Work Smarter, Not Harder
November 27, 2012 @ 19:56 PM | By Steve Biondi- Micro Focus

Rather than rip-and-replace, optimize your mainframe MIPS for key applications and understanding where you can redeploy MIPS-heavy workloads to alternative, more cost-effective platforms without introducing significant risk.

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The Waiting Game: Life/Annuity Insurers on the Technology Modernization Sidelines
November 05, 2012 @ 08:17 AM | By Erik Stockwell- MajescoMastek

Given that CIOs are ready to move forward, why is there not a greater sense of urgency among life/annuity carriers to replace legacy policy administration systems, and, what will it take for them to make the move?

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Evaluating a Software Vendor's Resume: Part-Time Help or Full-Time Hire?
November 02, 2012 @ 12:16 PM | By Jeffrey Glazer- Insurity

When it comes to searching for the right insurance core system software vendor, should the process be all that different than hiring a high-quality employee?

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A 12 Point Checklist for Automated Underwriting
October 25, 2012 @ 11:02 AM | By Gino B. DiGregorio and Charity McGill- Accenture

Automated underwriting systems offer the promise of better information and greater efficiency But insurers considering such systems should prepare a checklist to make sure that the systems address the underwriters’ concerns.

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Modernization Choice: Replacement or Future-Proof Environment Leveraging Legacy Assets?
October 05, 2012 @ 10:51 AM | By Wendy Corman- edgeIPK

Considering the difficulty, length, cost, risk, and project metric failure rate of legacy replacement initiatives, more insurers should consider future-proofing strategies that leverage legacy systems over mere modernization.

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Amica Guidewire Contract Validates Billing/Customer-Centricity Nexus
September 11, 2012 @ 13:02 PM | By Anthony O'Donnell

Carriers continue to obsess over their ability to transition from being policy- to customer-centric, and billing is a key component of that ambition.

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6 Questions Insurers Should Ask Before a Policy Transformation
July 27, 2012 @ 13:25 PM | By Imran Ilyas- PwC

Insurers are developing different strategies for policy system transformation. Regardless of approach, the odds of success will be improved by answering six core questions, suggests PwC's Imran Ilyas.

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Simplicity and Practical Design Delivers the Ideal PAS User Experience
July 27, 2012 @ 13:02 PM | By Chris Doggett- Adminovate

Reflecting on the 50th Anniversary of the first insurance policy admin system, Chris Doggett asserts that today’s solutions have created a user interface that often decreases productivity, increases the amount of training needed, and complicates customer service interaction.

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Keep It Simple, Insurers
July 26, 2012 @ 08:40 AM | By Kathy Burger

Policy administration modernization and replacement projects traditionally have been among the most costly, complex and risky initiatives insurance IT organizations oversee. There's got to be a better way, and an increasing number of insurers are looking for alternatives.

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Consider the BPM Route to Systems Modernization
June 06, 2012 @ 01:36 AM | By Evan McDonnell- Appian

BPM can be a springboard to address a multitude of application problems, helping insurance companies modernize and automate core systems quickly, easily and affordably.

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5 Steps Insurers Can Take to Meet Consumer Demand for e-Payment Capabilities
May 29, 2012 @ 12:14 PM | By Grant Brown- Profluent ePayment Consulting

The maturing of e-payments technology, changing customer demographics and the shift to a customer-centric approach to winning and retaining policyholders are combining to are compel insurers to change the way they interact with customers during the payment process. The author presents five steps toward adopting e-payments capabilities.

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How to Implement High-Performance Underwriting With Lower IT Investment Risk
May 17, 2012 @ 09:10 AM | By Akhil Tripathi- Unirisx

Four functional imperatives underlie desktop underwriting solutions that consolidate multiple sources for risk evaluation, liberating underwriters from administrative tasks for higher-value work, and enabling reduced loss ratios and higher profit margins.

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L&A Insurers Want Not Just Speed but Agility
May 07, 2012 @ 12:21 PM | By Anthony O'Donnell

A quick roundup of industry expert views on life & annuity carriers' system investment business drivers and functional desiderata for core system modernization.

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