In times past, policy administration implementations were often anything but pretty. Much time and money was wasted as insurers watched vendors fumble about and try to learn on the job how to iron out kinks. “As technology was developing and companies were trying to implement new and different things, you were always living with that reality,” says Kevin Costello, president and COO of Sparta Insurance Co., a Hartford, Conn.-based property/casualty insurer. “I spent a lot of time flying places to work out problems with vendors going through R&D phases or implementation struggles with their own product, and [then watched] that impact our business.”
While some frustrated insurers have taken to suing vendors, others have simply moved on. Many of the new customers of Hartland, Wis.-based AQS Inc., a provider of solutions to commercial property/casualty insurance sector, come to the firm on the heels of policy administration system implementations gone awry—of both packaged and tools-based software—and sometimes following multiple failures, according to company representatives.
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