These days, every sport is stressing the importance of "core strength." The core supports everything else in the human body, and in order for athletes to excel, they must take the time to keep those essential muscles and systems in top form.
Likewise, policy administration is at the core of any insurer's business processes and systems environment. It wasn't too many years ago we were reporting carriers just didn't seem willing to invest the time and effort (and money) in strengthening, updating, or replacing core systems. However, a trickle of interest has grown into a stream of policy admin activity.
"The level of demand [for new policy admin systems] has been strong and steady," reports Celent senior analyst Donald Light. "It's been a focus for probably two, going on three years–to look at the big behemoth [job] of replacing systems–and we haven't seen any slowing of that trend."
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