More than half of p&c insurers who have implemented new policy administration systems
report improvements of more than 25 percent in speed to market and data accessibility, as well as gains in business user satisfaction, distributor service, and reduced technology risk, according to a new study by the research and advisory firm Novarica.
A new policy administration system
is, by and large, the largest single technology investment an insurer can make.
For Philadelphia Insurance, the selection of its new policy administration system
came down to "our risk aversion," noted Goxhaj.
Founders of AdminServer re-team with the goal of once again causing a paradigm shift in the life and annuity policy administration systems
Combining centralized claims operations and business process management (BPM) to expedite claims resolution with a modern policy administration system
like Camilion's AuthoritySuite, we can clearly show P/C insurers how they can improve implementation times, reduce cost and mitigate risk.
Like Western World, personal and commercial lines P&C carrier Oregon Mutual found its business constrained by inflexible functioning of its legacy system for its non-BOP commercial lines: a 1980s-vintage mainframe running a z/VSE-CICS policy administration system
the vendor stopped supporting several years ago.
Oceanwide is currently expanding Genoa into the other marine lines, such as hull, marine liability, and yacht, as well as other niche specialty lines, that he said "have particular requirements that aren't being well serviced by general property/casualty policy administration systems
One of his more difficult tasks is to re-invent the rent administration system
Selecting a new policy administration system
is a difficult and time-consuming process, and one that a carrier will hopefully only need to endure once a decade at most," said Craig Weber, Celent chief executive officer and co-author of the report.
SOLCORP / INGENIUM(R) is a high-performance, web services-enabled policy administration system
that provides full-function processing for an extensive range of life and investment products.
FIS Software is dedicated to developing and delivering enterprise level end-to-end policy administration system
solutions to enable insurance and financial institutions to maximize top line growth and operational efficiency.
The Gibraltar Health Authority has established the Electronic Health Record Programme to procure, and deploy, a Patient Administration System
(PAS) and Electronic Health Record, with additional functionality (including, but not limited to, Accident and Emergency, Order Communications and Departmental Clinical Functionality), a Primary Care System, a Community Health Administration System
and a Mental Health Administration System