Core systems such as policy administration are once again taking center stage as the platform that will propel property/casualty insurers above the fray. So says recent research from Bermuda-based Accenture, which in November 2009 surveyed 27 P&C carriers across North America and Canada to determine their growth strategies.
Across a broad spectrum (half representing firms with revenue of more than $2 billion and half under $2 billion), the carriers surveyed overwhelmingly (92%) reported organic growth as their No. 1 objective, yet 81% said their current policy administration systems are inadequate to support such growth.
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