Policy Administration: Managing Distribution and Portfolio Shift in Turbulent Times
[ Source: Oracle Insurance ]
May 2009-
Recent market events have highlighted that the insurance industry must always be prepared for shifts in business climate. Yet in these cost-conscious times, many insurers are reluctant to invest in the systems that will support rapid changes in strategy and direction. How can you contain costs while still achieving the business agility that is critical to survival in today’s market?
Learn how a completely Web-based, rules-driven policy administration system can help you:
....
Modern Policy Administration Systems Require Modern Implementation Methodologies
[ Source: Camilion Solutions, Inc ]
December 2008-
The insurance industry is rife with anecdotes of late or failed implementations and millions of dollars lost in the process. In the Celent report "The 18 Month Rule: Avoiding The Endless Project" (Nov. 2006), it was noted that “between 30% and 80% of all large projects fail, with most estimates coming in on the higher side of this range.” But it doesn’t have to be this way –- implementations of modern policy admin systems can ....
Get Ready for Success: 7 Ways Automation Improves Underwriter Efficiency and Customer Service
[ Source: Optical Image Technology ]
March 2008-
Underwriting today is all about efficiency and service. Managerial expectations dictate the need to process more work, faster, often with fewer human resources, and as cost-effectively as possible. Understanding customer demands, and knowing the details of your routine business processes, records retention demands, and other legal requirements is vital to the smooth running of an underwriting department. This article explains seven ways you can tap into digital capture, storage, and process automation to maximize the ....
Taking Policy Administration System Transformation 'One Bite at a Time'
[ Source: Diamond Management & Technology Consultants ]
April 2008-
Most insurance carriers are placing policy administration system (PAS) transformation near the top of their to-do lists for the coming year, and many of these companies will expect a dramatic change in business results by moving PAS to the forefront of daily business operations. However, it is critical that carriers do not underestimate the operational challenges associated with replacing an existing PAS platform, because it will require changes to nearly every business process and technical ....
Top 10 Things You Should Know Before Buying a Policy Administration System
[ Source: Camilion Solutions, Inc ]
May 2007-
Replacing a Policy Administration System is a mission-critical initiative full of risk. In the past, there have been millions of dollars lost, vendor reputations irrevocably tarnished and too many abandoned and failed implementations to count. The case for ripping and replacing your Policy Administration System is both strategic and necessity-based. The strategic promise is that Policy Administration System replacements, if done correctly, can help a Property & Casualty insurer improve time-to-market, become more competitive, be ....
Next Generation Policy Admin Systems
[ Source: Camilion Solutions, Inc ]
October 2007-
Frustrated because you’re forced to use the wrong tools? You need a next-generation policy admin system. Read this white paper now to learn how the new generation of modern, flexible Policy Administration Systems are giving Property & Casualty insurers the tools to compete in today’s highly competitive market. This paper gives you an introduction to these tools-based systems, outlines their advantages over proprietary, hard-coded legacy applications and explains how they deliver measurable ....
Achieving Underwriting Excellence with PolicyCenter
[ Source: Guidewire Software ]
May 2006-
The next-generation policy administration system facilitates rather than obstructs business agility. As business units identify
opportunities to modify and create new products, expand into new geographies, or innovate new value propositions to policyholders,
the policy system must adapt to support the new ideas or they will die on the vine.
Straight-through Processing -- Using Workflow to Push Information through the Communications Labyrinth at Break-neck Speed
[ Source: Optical Image Technology ]
November 2007-
This informational article talks about the roles of digital workflow and effective integration with line-of-business software in facilitating and enabling straight-through processing for insurers. It discusses how integration tools such as Web services and workflow enable communication between multiple line-of-business systems, databases, legacy systems, and other technologies. Readers will learn how tight integration helps them with underwriting new business; automating policy updates; settling claims; and expediting financial transactions. Digital workflow’s role in straight-through processing for ....