Architecture, Implementation Capabilities, and Roadmap May Soon Outweigh Current Functions in Differentiating Core Systems
Novarica’s new executive brief asks insurers whether a given core solution will evolve to meet tomorrow’s needs with flexibility and speed
Boston, MA (Oct. 13, 2020) – Replacement projects may once have been about solving current pain points with specific functionality, but insurers today should be looking to where potential solutions are headed. In the new executive brief, Core Systems of Tomorrow, research and advisory firm Novarica frames the criteria to consider when selecting a modern core system for the future.
“Assessing out-of-the-box functionality and approaches will remain important,” says Chuck Ruzicka, Novarica Research Council Fellow and co-author of Novarica’s new report. “But architects will be increasingly involved in evaluating the potential impact of emerging architectures and approaches on speed to market, scalability, and total operating costs. CIOs should continually evaluate their current core system providers’ solution roadmaps and progress against these trends.”
Click here for the table of contents or to access the report.
Report Summary
Architecture, implementation capabilities, and roadmaps may become more important than current features for insurance core systems.
Core solutions are evolving, with architecture and implementation factors superseding functionality as key competitive differentiators. This brief provides an evaluation framework for carriers looking to enhance homegrown core systems or evaluate the viability of their current partners or emerging commercially available solutions. Architects and solution providers can also use this brief to evaluate the direction and comprehensiveness of their solution roadmaps.
Click here for the table of contents or to access the report.
About Novarica
Novarica helps more than 100 insurers make better decisions about technology projects and strategy. Its research covers trends, best practices, and vendors, leveraging relationships with more than 300 insurer CIO members of its Research Council. Its advisory services provide enterprise phone and email consultations on any topic for a fixed annual fee. Consulting services range from assessments and strategic roadmaps to vendor evaluations. For more information, visit www.novarica.com.
Source: Novarica
Tags: brief, core systems, Core Systems Modernization, legacy system replacement, legacy systems, Modern Core Technologies, Novarica
Read the original article at Insurance-Canada.ca