Chad Hersh

Core policy administration system replacement project activity has increased for L/H/A carriers over the past 5 to 10 years, and these projects represent an even larger commitment for insurers today in terms of funding, risk and expected impact. Carriers often wonder how their projects compare to their peers in areas such as cost and scope in addition to the overall experience the carriers had in undertaking this type of project.

This report presents results from a survey of 14 L/H/A… Show more

Core policy administration system replacement project activity has increased for L/H/A carriers over the past 5 to 10 years, and these projects represent an even larger commitment for insurers today in terms of funding, risk and expected impact. Carriers often wonder how their projects compare to their peers in areas such as cost and scope in addition to the overall experience the carriers had in undertaking this type of project.

This report presents results from a survey of 14 L/H/A carriers, including 7 large (over $1B in premium) and 7 midsize (between $100M and $1B) insurers who are currently implementing a policy administration system or have done so in the past ten years. The survey included questions focused on project scope, timelines, resources, costs and impacts. The results from the survey can be used as a point of reference/comparison for insurers who are currently implementing a PAS, have implemented one in the last 10 years or are planning to in the near future. Show less

Core policy administration system replacement has been an increasingly common initiative for P&C carriers over the past 5 to 10 years, and these projects represent an even larger commitment for insurers today in terms of funding, risk and expected impact. Carriers often wonder how their projects compare to their peers in areas such as cost and scope in addition to the overall experience the carriers had in undertaking this type of project.

This report presents results from a survey of 11… Show more

Core policy administration system replacement has been an increasingly common initiative for P&C carriers over the past 5 to 10 years, and these projects represent an even larger commitment for insurers today in terms of funding, risk and expected impact. Carriers often wonder how their projects compare to their peers in areas such as cost and scope in addition to the overall experience the carriers had in undertaking this type of project.

This report presents results from a survey of 11 large (over $1B in premium) and 22 midsize (between $100M and $1B) P&C insurers who are currently implementing a policy administration system or have done so in the past ten years. The survey included questions focused on project scope, timelines, resources, costs and impacts. The results from the survey can be used as a point of reference/comparison for insurers who are currently implementing a PAS, have implemented one in the last 10 years or are planning to do so in the near future. Show less

Individual life carriers are focusing on product differentiation, speed to market, reducing operational costs, and better management of risk. In addition, attention is being paid to technology platforms where in many cases life carriers have aging platforms with redundancy in many systems. This focus is in response to a highly competitive carrier marketplace and unpredictable market equity performance.

Top initiatives for individual life carriers include core system version upgrades… Show more

Individual life carriers are focusing on product differentiation, speed to market, reducing operational costs, and better management of risk. In addition, attention is being paid to technology platforms where in many cases life carriers have aging platforms with redundancy in many systems. This focus is in response to a highly competitive carrier marketplace and unpredictable market equity performance.

Top initiatives for individual life carriers include core system version upgrades, consolidation of redundant systems, agent portal capabilities, and STP/automation.

This report provides an overview of individual life carriers’ business and technology issues, data about the marketplace, and 36 examples of recent technology investments by individual life insurers. Show less

Individual life carriers are focusing on product differentiation, speed to market, reducing operational costs, and better management of risk. In addition, attention is being paid to technology platforms where in many cases life carriers have aging platforms with redundancy in many systems. This focus is in response to a highly competitive carrier marketplace and unpredictable market equity performance.

Top initiatives for individual life carriers include core system version upgrades… Show more

Individual life carriers are focusing on product differentiation, speed to market, reducing operational costs, and better management of risk. In addition, attention is being paid to technology platforms where in many cases life carriers have aging platforms with redundancy in many systems. This focus is in response to a highly competitive carrier marketplace and unpredictable market equity performance.

Top initiatives for individual life carriers include core system version upgrades, consolidation of redundant systems, agent portal capabilities, and STP/automation.

This report provides an overview of individual life carriers’ business and technology issues, data about the marketplace, and 36 examples of recent technology investments by individual life insurers. Show less