Martina Conlon

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 today’s 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.