Policy Administration Transformation
Driving the change agenda
Ask a carrier why they are replacing, or thinking of replacing their current policy administration system. They will tell you that their current policy administration technology is old and difficult to maintain or the company has too many existing policy administration systems and needs to simplify. While those statements may be true, these reasons alone are typically not enough to justify the significant investment and commitment required to implement a new policy administration system. It is only when the technology can no longer support current or future business objectives, or when an aging system becomes incredibly expensive to maintain that one should consider a policy administration replacement.
Policy administration systems perform two basic, yet very important functions. They automate workflows and manage data. While policy administration technology by itself is a critical component to enable the business process and increase efficiency, one must recognize the risk and therefore plan for each component of the end-to-end solution while managing threats effectively. If an organization’s focus is simply to re-platform, though, the implementation has likely failed before it even began.
Deloitte’s global leadership and demonstrated approach to policy administration transformation have successfully guided organizations to execute large-scale and complex plans. Deloitte leads the way in product design, distribution, underwriting, systems architecture and development, advanced analytics and project management making our management of policy administration transformation one of the most respected in the industry.
Policy Administration Transformation: Driving the change agenda includes:
- Defining business value
- Deloitte differentiators
- Technology’s role
For more information, download the PDF.