Like a pair of shoes, insurers may find that they are most comfortable with their new policy administration systems after a while. Indeed, a new report from Boston-based Celent, “Policy Administration Systems: Building Value over Time,” reviews strategies carriers can employ to glean continuing value from policy administration systems.
“The two basic ways to realize the full value from a new policy admin system are to extend and/or deepen its use," says Donald Light, Senior Analyst with Celent's Insurance group and author of the report. “Extending addresses what kind of business is put through the policy admin system; and from where that business comes. Deepening is a matter of how it is used, and who uses it. There is a great deal of fluidity in how an insurer can blend extending initiatives and deepening initiatives from year to year."
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access
