For insurers, product lifecycle management is not what it used to be. Indeed, a constantly evolving technology ecosystem — paired with changing customer expectations and an uncertain business environment — mean that to prosper, carriers must now adapt the manner in which they conceive and manage their products.

Historically, carriers faced a variety of challenges getting products to market in a timely manner. For many years, technology was almost as much a hindrance as an enabler for some companies as new insurance products would need to interact with a hodge-podge of systems from policy administration to rating en route to market. Now a maturing set of product lifecycle management tools expressly built to enable insurers to better manage a product from conception through design, distribution and service, coupled with the advent of service-oriented architectures, have served to lower the IT hurdle in the product development cycle.

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

Don't have an account? Register for Free Unlimited Access