Moving forward on a forbidding economic playing field, most insurers hoping to modernize their policy admin systems are running flat. Yet CIOs who already allocated funds for core system upgrades are proceeding as planned, albeit under extreme pressure. Like a quarterback facing a blitz, they must maneuver around outdated code, vendor mergers and acquisitions, budget constraints and the integration of new tools and technologies. Those CIOs who put together a successful drive know that the end zone holds great promise.
Against a dire economic backdrop, most insurers entering Q2 are running flat. Yet those insurers that had already allocated funds for core system upgrades are proceeding as planned, albeit under extreme pressure to manage their spend efficiently. This means dealing successfully with outdated code, a changing vendor landscape, and entirely new tools and technologies that must be integrated in advance of switching to the new system.
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