Policy Administration Systems Replacement Still Top of Mind for Property/Casualty Insurers
Novarica profiles more than 40 vendors in 500-page 12th annual report which provides extensive details on vendor solutions
Boston, MA (May 14, 2019) – Property/casualty insurers continue to replace their legacy policy administration systems (PAS), with the goals of improving speed to market, supporting new product types, enhancing the use of analytics, and enabling digital channels. In its 12th annual Novarica Market Navigator report on Property/Casualty Policy Administration Systems, research and advisory firm Novarica profiles 42 vendor solutions, providing over 500 pages of information to help insurers understand and compare these complex systems.
“Insurer IT budgets are primarily dedicated to the maintenance, modernization, and replacement of core systems,” said Martina Conlon, Executive Vice President of Research and Consulting and co-author of Novarica’s new report. “CIOs should not expect a core system to encompass all available emerging technology within its borders. Rather, they should consider how a new system’s architecture will provide the flexibility and agility needed to take advantage of future technology and allow integration with future partners.”
Property/Casualty policy administration systems 2019 (Novarica Market Navigator)
A preview of the brief is available online.
Summary
This report provides an overview of the available policy administration systems and suites for US property/casualty insurers. The report contains profiles of 42 solutions, summarizing the vendor organization, technology, differentiators, client base, lines of business supported, deployment options, implementation, upgrades/enhancements, and key functionality.
Vendors included: AdvantageGO, Beyontec, BriteCore, CGI, CodeObjects, Decision Research Corporation, Duck Creek, DXC, eBaoTech, Ebix, ECCA, EIS Group, eSURETY, Finys, Focus Technologies, Guidewire, Instanda, Instec, Insurance Systems Inc., Insuresoft, Insurity, Majesco, MFX, OneShield, Origami Risk, PCMS, Policy Administration Solutions, SAP SE, Sapiens, Solartis, SpeedBuilder Systems, Sunlight Solutions, TCS, Ventiv, Verisk, and West Point Insurance Services.
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 through retained advisory services, published research, and strategy consulting. Its knowledge base covers trends, benchmarks, best practices, case studies, and vendor solutions. Leveraging the expertise of its senior team and more than 300 CIO Research Council members, Novarica provides clients with the ability to make faster, better, more informed decisions. Its consulting services focus on vendor selection, custom benchmarking, project checkpoints, and IT strategy. For more information, visit www.novarica.com.
Source: Novarica
Tags: legacy system replacement, Novarica, Policy Administration Systems Read the original article at Insurance-Canada.ca