Martina Conlon
PrincipalMartina Conlon is a principal at Novarica, a research and advisory firm focused on insurance technology strategy for insurers.
Martina Conlon is a principal at Novarica, a research and advisory firm focused on insurance technology strategy for insurers.
Cloud for ancillary services has risen in insurance, and within the past few years the trend has expanded to include core as well with Tier-1 carriers migrating to the model.
The sector is complex, and it is important for carriers to have the appropriate systems and functionalities to support these complexities and enable future growth.
Many carriers are either undergoing or have completed core replacement projects, while at the same time facing a talent crunch.
Legacy systems are no longer able to support the flexibility and time to market necessary to compete in todays market, and insurers are taking action.
Many insurers find that legacy billing technology limits efficiency for internal operations, effectiveness of customer service, the speed to market for new or modified billing features, and can be an obstacle in delivering capability to agents and policyholders.
Novarica research shows that nearly 40 percent of P&C and life/health/annuity carriers are currently replacing or planning to replace a policy administration system.
Using a simplified approach to the RFI process allows insurers to narrow the range of potential suppliers much more quickly and effectively than a dense RFP.
A unified, comprehensive platform can help underwriters perform their jobs more efficiently and profitably.
Analytics and predictive models are spreading across the enterprise.