Brookfield, Wis. - A wave of insurers will update their core processing systems in 2006 and early 2007, according to the results of an online survey on property and casualty insurance technology. The survey, conducted by Fiserv Insurance Solutions, a unit of Fiserv Inc., a Brookfield, Wis. software and services provider, revealed that interest in improving processing capabilities and offering better customer service underlies the emphasis on overall business process management and data accessibility.
"Respondents said that their next large-scale project is most likely to involve policy administration," said Mike Key, executive vice president of Enterprise P&C Solutions for Fiserv Insurance Solutions.
"Claims management and sales tied as the next most-likely projects. Others include billing, product design and reinsurance. The emphasis on policy and claims administration indicates that better customer service and satisfaction continue to be leading business drivers since both areas are major touch points with customers," he added.
Enabling technologies emerged as an important driver to support the needs of the business community. More than 85% of participants indicated that Web services were a critical part of their integration strategy. More than half responded that Web services/business-oriented services are under evaluation.
To request a copy of survey results, go to "What's New" at www.fiservinsurance.com.
Source: FiServe Insurance Solutions
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