Blog | Policy Administration & Management

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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Speed to Market Becoming Critical Issue for Life Insurers
May 04, 2012 @ 11:40 AM | By Daniele Presutti and Mitchel Ludwig, Accenture

Industrialized development and delivery platforms are a key to achieving high performance in a business environment characterized by intensified cost pressures, continued market uncertainty and increased regulatory scrutiny.

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Of Worms and Monkey Wrenches: The Need to Standardize Policy Admin System Business Rules
April 16, 2012 @ 15:27 PM | By Chris Doggett, Adminovate

Have the business rules that enables the flexibility and configurability of today's policy administration systems become little more than a second kind of code that we have to manage along with the first?

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3 Reasons a PAS Gamble Paid Off For Capitol
April 12, 2012 @ 12:11 PM | By Nathan Golia

Troy Lethem, who runs information systems for the Middleton, Wisc.-based commercial lines carrier, tells Insurance & Technology why its implementation of OneShield Dragon was worth the leap of faith.

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PAS As a Launchpad for Improved Customer Experience
February 15, 2012 @ 10:46 AM | By Imran Ilyas, PWC Insurance Advisory Services

A modernized policy administration platform provides the necessary launch pad for carriers to offer a variety of highly differentiated customer experiences and better respond to complex market demands.

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Struggling Euro PAS Vendors May Boost Buyer's Market in North America
February 13, 2012 @ 13:08 PM | By Anthony O'Donnell

EMEA-based core systems vendors have already wrested market share from their NA-based competitors, and the relative prospertity of the NA market may bring more vendors across the pond, according to a new report from Celent.

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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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