An increasing number of insurers are taking on policy administration projects - projects that many in the industry say are 'once-in-a-career' or 'make-or-break-a-career' endeavors. These projects can take anywhere from nine to 24 months when done right, and can drastically change the way a company does business for years and years to come.
As of April 2013, approximately 160 P&C insurers were in the implementation process, according to a report from research and advisory firm Celent. From January 2011 to April 2013, more than 150 P&C insurers and nearly 50 life insurers licensed a new policy administration system, and activity levels have remained high among both insurance sectors and policy administration technology vendors since the firm's first report in 2005.
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