I recently had the opportunity to talk with an esteemed colleague and old friend about how to replace a legacy claims system, having purchased a third-party replacement product. Bill Garvey of Eastern Shore Consulting produces a monthly podcast called Claims Beat for Insurance Journal and he was good enough to invite me along to discuss some fundamental questions for the industry concerning the how and why of claims administration replacement. For this edition of Shop Talk I have taken Bill's questions and answered them from the viewpoint of a policy administration system. In some instances the answers are the same, in others quite different.
1) How long should one plan for a “typical” policy implementation?
The time from project initiation to initial-go-live will probably be 9 to 15 months. Initial-go-live usually means writing some new business for one line of business on a restricted basis. What happens after that and in what order is dictated by the size and complexity (measured by lines and types of business, and geographies) of the book of business.
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