Columbia, S.C. — Eighty-seven percent of participants in a survey from Cedar Rapids, Iowa-based Fiserv Insurance Solutions responded that policy administration, the core system for maintaining insurance coverage information, was most likely to be one of the next three large-scale projects they tackle. Policy administration has led the large-scale projects response for three years, up from 75% in the 2007 survey. The second-place response following policy administration was claims projects at 44%. Claims projects also have increased steadily for three years.
Both policy administration and claims projects dovetailed with the business needs that participants identified: enhancing overall administrative efficiency (65%) and access for distribution channels (52%). Accurate pricing of risk and flexible billing options tied for the third top business need with 44% each.
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