Clearing the Policy Conversion Hurdle: Life Insurers Share Strategies for Moving Large Blocks to New Systems [ Source: CSC ]
April 2009- Why do most life and annuity companies still maintain policy administration systems that are 20 to 30 years old? One of the biggest obstacles they face has very little to do with technology. It has more to do with the difficulty of converting large blocks of policies from the old system to the new one. Unlike property and casualty policies, which renew every six months to a year, life insurance policies can remain in force for 50 years — ...

Automating Wrap-Up Application for a Leading Insurer [ Source: Wipro Technologies ]
April 2010- The client wanted to automate its Wrap-Up system to reduce cycle time & associated costs and be competitive within the industry. Wrap-Ups are widely used as a risk management technique by allowing coverage for multiple insureds to be wrapped up into one consolidated program. Solution: Wipro worked with the client to develop a framework that would generate details of the construction costs and then provide an analysis to the Wrap-Up team. A proof of concept was ...

Video: Enterprise Product Agility [ Source: Camilion Solutions, Inc ]
January 2010- Watch this 10-minute video to hear Kathy Woodliff, CEO, Woodliff Global Consulting, and Steve Sigal, Senior Product Manager, Camilion Solutions, discuss how achieving Enterprise Product Agility can help insurers work smarter and get products to market faster. Hear about the benefits that insurers are realizing as a result of adopting a product agility strategy.

Clearing the Policy Conversion Hurdle: Life Insurers Share Strategies for Moving Large Blocks to New Systems [ Source: CSC ]
April 2009- Why do most life and annuity companies still maintain policy administration systems that are 20 to 30 years old? One of the biggest obstacles they face has very little to do with technology. It has more to do with the difficulty of converting large blocks of policies from the old system to the new one. Unlike property and casualty policies, which renew every six months to a year, life insurance policies can remain in force for 50 years — ...

ProductAuthority Life & Annuity: A Pure Insurance Product Development Solution [ Source: Camilion Solutions, Inc ]
April 2008- Built to capitalize on a Service-Oriented Architecture (SOA), ProductAuthority® fundamentally changes the way insurers develop and implement products. A "pure" insurance solution, ProductAuthority enables agility by externalizing all product data and rules from multiple, hard-coded operational systems into a central repository, where products can be easily configured and modified. These reusable product definitions include all important product information - eligibility, packaging, underwriting rules and forms management – not just pricing or calculations. The integration of product ...

Cars and Trucks Are Talking: Why Insurers Should Listen [ Source: Diamond Management & Technology Consultants ]
May 2008- Automotive “telematics” such as event data recorders, global positioning systems, and other emerging innovations could save auto insurers $20 billion in annual claims payouts, or 17 percent of personal lines auto insurance losses each year. These savings will be the result of lower legal costs, more accurate insurance premiums, more efficient claims processing, fewer fraudulent claims, and new revenue from new monitoring and risk prevention services. But the road ahead presents challenges, too. Starting now, and over ...