Since the dawn of time–well, at least since the dawn of insurance technology–policy administration systems have resided primarily within insurers' own data centers. Even carriers that today will consider Software as a Service (SaaS) for CRM, sales force automation, business intelligence, or other functions prefer to keep core data processing under their direct control.
With that said, there is a "huge amount of interest" in using SaaS for policy administration, according to Ellen Carney, senior analyst at Forrester Research. "Among CIOs we've talked to, they are very intrigued with the idea," she reports.
Additionally, policy administration vendors are touting their SaaS delivery capabilities to the market. "I can't think of a single core vendor these days in insurance that, if it doesn't already offer SaaS, isn't planning to," Carney says. "It's the price of admission these days."
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
