Once upon a time when I was an underwriter, my manager was fond of telling me we didn't sell a product, we sold a promise. And at a high level, he was entirely correct.
Across the country, insurers' IT departments are waging battles on many fronts. Rapidly changing business needs, new regulatory demands, and aging legacy systems all require time and personnel.
IT departments are caught in the middle of a tug of war. They are pulled one way by the need to deal effectively with their current systems environment and the other by the need to plan and prepare for future demands.
In these challenging economic times for insurers, it's not enough simply to recognize the challenges: Decisionmakers must understand today's economic trends and how those are likely to impact their company and industry sector.
Insurers might be looking for ways to trim expenses throughout their operations today, but it's still full speed ahead for policy administration projects.
When it comes to its qualities as a buzz term, Software as a Service (SaaS) has a lot going for it. Unlike "SOA," there's only one way to pronounce it, and unlike "cloud," both business and IT
It would be easy to begin with a couple of scare stories about companies losing thousands of customer records to hackers, phishers stealing millions of dollars, and fraudsters making lives miserable f
"People think of governance as policing, but it's really a support mechanism," says Michael Kronenwetter, vice president of technology management at Pennsylvania-based health insurer Highmark. "We bel