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PAS or Play?

In a cutthroat commercial lines marketplace, insurers have sharpened their focus on modernization of their policy administration systems (PAS). Failure to address this issue is a gamble insurers can’t afford to make.

By Michael P. Voelker | Updated on December 31, 2010

To draw a parallel between biology and technology, policy administration systems (PAS) started out as simple organisms, existing solely as systems of record for the business an insurer writes. Functionality has gradually evolved and become increasingly complex, and so has the definition of PAS, which—depending on whom you ask—may today incorporate rules-based underwriting and workflow, business analytics, underwriting desktops, document management, and external data exchange.

“Over time, the scope of policy administration has grown to the point where some definitions cover nearly all of the core systems an insurer has,” says Donald Light, senior analyst in Celent’s insurance group.

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