Previous Page

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

 

INSURANCE SOFTWARE SEARCH
Home  |   About Us  |   Contact
Property/Casualty
 
After Y2K, Property/Casualty Insurers focused their attention on policy administration software replacement.  Old, or legacy, systems weren't web-enabled and the urgency to transact business via the Internet was high.  The expectations of the Internet were, as you might recall, boundless.  E-commerce solutions would replace much of what we do.  For P&C insurers that meant replacing old systems and manual activities with straight through processing from the consumer, agent or broker to the carriers' administration and financial systems. 
 
But the software for insurance market wasn't ready for this revolutionary change.  Legacy systems were (and still are in some cases) developed over decades.  The business functionality and technical stability in those systems were far too advanced for the software industry to replicate in a couple of years.  Further, the software vendors had a transformation of their own to confront - migrating from old to more modern technology platforms. 
 
The expectations of insurers competing with the un-readiness of software for insurance, created some early system replacement failures.  The sting of failure should serve as information for going forward.  Staying put out of fear is more costly than venturing out to find solid solutions.  And in the past five to six years "new" systems have made steady progress from a business functionality and technology stability standpoint.  Software vendors have the insurance industry to thank for this progress because it is the insurance industry's investment, perhaps failure after failure, that has underwritten the software market's advancement.  More than at any point in the past decade, now is the best time to search for software solutions that are not only proven, but meet your needs.