Commercial and personal lines P&C insurers list business tools as their primary challenge during PAS implementations, according to a recent survey by Strategy Meets Action. This is in part because business tools, while a mainstay for the modern policy admin systems currently on the market, are still maturing as many insurers indicated they still require some level of coding.
The inability to deliver the promised business functionality is another top challenge. The vendor response to many insurers' business requirements is often "configuration," which SMA notes as the top tech priority for PAS replacements. However, configuration frequently is not easy, SMA says, as particular requirements often times have not previously been configured.
Maintaining content also is difficult and time consuming, SMA says, which reinforces the critical nature of getting the architecture correct at the beginning of the project and constructing applications not just for a quick implementation, but to make ongoing maintenance more manageable.
