Policy Administration systems are a hot topic across the industry, just as it was when I entered into insurance in 1978. My first COBOL programming assignment was on a new workers' compensation policy admin system maintaining rating logic. In the 1980s and 90s, policy administration systems were still just as hot, and I led the charge of two commercial lines policy administration replacements projects.
Based on our experiences at Smallwood Maike & Associates and with the insights from a strategic research project, we are challenging the industry to rethink the requirements because we believe they are chasing a 30-year-old dream.
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