Few P&C carriers are satisfied with their existing policy administration systems. But while most would like to benefit from modern technology solutions, getting there can be a daunting challenge.Developed using now-ancient languages like COBOL and first deployed 15-20 years ago, many insurers' policy administration systems (PAS) lag far behind today's technology. Yet, the PAS is literally the life support system of an insurance carrier's business.

Core policy data constantly flow into and out of the PAS, which sits at the heart of risk evaluation and processing of new business, renewals, and endorsements. Numerous internal and external parties-including claims, billing, actuarial, customer service, finance, and state bureaus-constantly query the system to support their key activities. Underwriters and policy processors spend eight hours a day in the system to rate, bind, and maintain policies.

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