It is exciting to talk about the possibilities the future has in store for us with the many
advancements in technology we’ve seen in the last few years—even months—
particularly along the lines of mobility. Less exciting is the discussion of core systems. Everyone understands the need to ditch legacy systems, but for many companies, the task of
core systems replacement is easier said than done.
The sad part of these discussions is too few of the advancements being made in
mobility and predictive analytics are available to those insurance carriers that are stuck
with 20th century technology in a 21st century world.
The good news, though, is if a carrier conducts its due diligence and selects the
right solution partner, the possibility of success in implementing new core systems is
at its greatest level ever. Thanks to systems integrators (SI) and outside implementation
teams, the biggest worry with purchasing a new platform—getting it right when it is
installed—can be eliminated. Often, you only get one shot at this and if it doesn’t work
on the first go, it might never work correctly.
Companies have always worried—usually with good reason—the technology might
not work because they don’t have the proper people in place within the IT department
to accomplish the job. This is one reason the purchase of a new core system has been
considered a career-defining task for many CIOs.
Finding the right technology solution isn’t the only search involved in core systems
replacement, though. Finding the right SI is equally important. Many of the top companies performing this task serve as partners with the solution providers. Having great
knowledge of the solution is extremely valuable, but shouldn’t be the only reason to
select a particular SI.
It is important to find a company that understands the needs of the insurer—how
to walk them through process and workflow changes, how to select the right people to
serve as project managers. The right integrators are conduits to both sides—the third
leg to the proverbial stool.
So searching for the right solution partners and integrators might be more difficult
today than ever before, but once the correct decisions have been made, the results,
more than likely, are going to turn past nightmares into dreams come true. ITA
Robert Regis Hyle
The Right Solution
and the Right SI
THE MAGAZINE FOR INSURANCE IT & BUSINESS PROFESSIONALS
Editor in Chief
Robert Regis Hyle
Michael P. Voelker
Jason T. Williams
ITA Advisory Board
Tricia S. Blair
Lincoln Financial Group
Millers Mutual Insurance
Judith L. Haddad
Patriot National Inc.
Craig S. Lowenthal
Berkley Technology Services
American Family Insurance
Glatfelter Insurance Group
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