Surveys and studies show that insurers are actively implementing new policy administration systems. In September, Celent released its “Policy Administration System Vendors, North American Commercial P/C Insurance 2011” report. And this month, the analyst and consulting firm released a similar report for the life, health and annuities industry.
The firm says that despite the continued economic turmoil, there is still a strong interest in renewing and/or replacing policy administration systems (PAS), and these initiatives are necessary to help the industry address growth, service and distribution imperatives.
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