Last week we looked at the first 5 things to know before buying a policy administration system. In this week’s post, we examine the next 5 things to know in order to ensure a successful policy administration replacement. read more »

Sure we all want to have that extra piece of pie, but who wants to spend an extra 30 minutes on the treadmill working it off? Life is full of trade-offs like this. Sure we want to take the current ISO filings, but we can’t afford the resources to interpret and implement them... read more »

Gartner recently published MarketScope for North American Property and Casualty Insurance Policy Management Modules, which provides a look into the North American policy management vendor market aimed at Tier 1, 2 and large Tier 3 P&C insurers. While it is not a comprehensive report of all vendors offering policy administration systems, it reviews vendors that support full end-to-end policy management and issuance functionality, with 2 live customers of greater than $500 Million in DWP, that exhibit steady growth and demand in the North American P&C insurance market.read more »

Karen Furtado, Partner, SMA Strategy Meets Action recently published an article discussing the new approaches available today to manage ISO rates and rules beyond the traditional system of record. The article reviews the benefits of ISO Electronic Rating Content™ and how state-of-the-art policy administration systems can and should do more than just quote, issue, and manage policy records.read more »

When you think about it, there are a couple of striking things about how an insurance company uses bureau content, aka rates, rules and forms. read more »

Time is one of those elusive things in life where everyone wants more of it to accomplish all their tasks but no one ever really seems to find it. Has anyone ever examined how to do even more than before with less time though? Is it even possible?read more »

Novarica’s Karlyn Carnahan recently published a report titled Carrier Internal Processes for ISO Circulars, which profiles the typical processes, resources and costs associated with handling ISO circulars. According to Karlyn, maintaining rates, rules, and forms is a complex and labor intensive process within an insurance carrier. read more »

In the wake of the recent financial crisis, the main business driver for many P&C insurers is growth and expense reduction. To support their growth objectives we’re seeing many P&C companies taking a renewed interest in product configurators. read more »

It’s one of the most important decisions a large or mid-size P&C insurer can make: When replacing a core system or systems, should you purchase an end-to-end suite from a single vendor or opt for a best-of-breed solution? read more »

At the recent IASA Business Show and Conference in Grapevine, Texas I attended the session “Head Into the Cloud: Classic Insurance Applications for Cloud Computer” with speakers Aaron Harris, CTO, Intacct Corporation, Steve Boyd, President, Commercial Lines, Arrowhead Insurance Group, and Andy Scurto, ISCS. read more »