Building a base for real evaluation of policy admin systems
(Feb. 24, 2014) – It’s that time. You are sitting down to evaluate policy administration systems side-by-side. You have six or seven companies who have responded, four or five of which could probably do an adequate job. The answers to your questions glare back at you from the screen and you are struck with the incredible similarity of systems. Looking at the responses, some of these systems look interchangeable.
Most of them seem to be what they need to be: flexible, robust, modular, scalable, standards-based, rich in functionality and they seem to easily integrate with existing systems. But the need today is not for an all-encompassing functionally-rich system but one that is the right fit for your business. How do you get past the basics to evaluate and uncover the system that confidently carries your business into a new era?
Begin with evaluating these traits that go beyond the RFP basics. For the rest of the article, click here (PDF).
About the Author
Manoj Porwal is Product Manager for STG Insurance Suite and has overall ownership of all aspects of product management and development. Manoj is focused on designing and delivering better systems for the P&C insurance industry.
MajescoMastek is an established provider of Insurance Software + IT Services to over 100 carriers. MajescoMastek delivers proven solutions and IT services in core insurance areas including policy administration, product modeling, new business processing, billing, claims, producer lifecycle management and incentive compensation. For more information, please visit us on the Web at www.majescomastek.com, or call 1-800-249-9540.