Adaptik Blog

Is the policy admin solution you’re about to purchase really ‘configurable’?

Written by Stacy Stout on September 19th, 2017

Over the last few years more and more P&C policy admin vendors are claiming that their solutions are configurable. But are you sure what the vendor means by “configurable” means what YOU think it means? At Adaptik, we’ve found that many of our competitors in P&C policy administration space who advertise their products as configurable… Read More

Hurricane threat grows for Florida as Irma gains strength

Written by Property Casualty 360 on September 5th, 2017

Florida declared a state of emergency before a possible hurricane strike after Irma strengthened to become a Category 5 storm on its approach to the Caribbean. Irma’s maximum winds rose as high as 175 miles an hour (280 kilometers an hour), the U.S. National Hurricane Center said in an advisory on Tuesday. The storm is located about… Read More

The Benefits of Adaptive Software Development

Written by Christopher Merkel on August 22nd, 2017

Prototyping, the iterative modeling of a system, enables users to be actively involved in the development process. The methodology – which provides a working model of the system throughout development – allows errors, missing functionality and confusing or difficult functions to be detected early, reducing risk of sub-optimal ROI on the finished project. At Adaptik, we… Read More

Chief analytics officers on the rise in insurance

Written by Information Management on August 8th, 2017

As insurers evolve their analytics strategies from gathering information to interpreting data, the appointment of chief analytics officers and data scientists have become more prevalent throughout the industry compared to that of chief data officers, according to a new study by Strategy Meets Action. Currently, 22% of personal lines carriers, 19% of commercial insurers and… Read More

What Makes Our Policy Admin System Different?

Written by Melis Carroll on July 19th, 2017

(Hint: Look below the Surface) When it comes to a big-ticket item like a policy administration solution, it’s natural for buyers to focus on features and functionality; after all, you’re really concerned with what that new system can DO. But here’s the thing about policy admin: All the major players offer essentially the same basic… Read More

Making the Case for Replacement

Written by Michael Overend on May 2nd, 2017

Carriers do not take the decision to replace a P&C policy administration system lightly. Nor should they. Deploying a new policy admin solution represents a significant investment of both time and capital. Unless a new line is in play, it’s probably a once-in-a-generation job. No insurer likes doing it, and that will simply never change…. Read More

In the Long Run

Written by Melis Carroll on March 21st, 2017

For a P&C insurance carrier, there are few more critical strategic initiatives than choosing the right policy administration solution. Whether the system will administer an entire book of business or only a select few specialty lines, it represents the heart and soul of what an insurer does. A great policy admin solution allows for growth… Read More

Product Management: Getting the Mix Right

Written by Anne Kraske on February 1st, 2017

I recently had the opportunity to speak at SIIA’s Deciphering Product Management event where there was robust discussion on all things Product Management related. At the end of the metaphorical day, however, the bottom line is a company’s Product Management goal must be to offer the right mix of products to grow their business. There is… Read More

Digital-Focused Insurance ‘Nomads’ Redefining Distribution

Written by Digital Insurance on January 18th, 2017

A distinct group of insurance customers – called nomads – focused on digital interactions is emerging from the broader population, presenting an opportunity for savvy insurers to develop the capabilities they seek. In contrast with insurance “hunters,” who prioritize price among all else, and “quality seekers,” who are looking for a long-term partner that they trust,… Read More

New Year, New Policy Administration Solution – 2017 Revisit

Written by Anne Kraske on January 10th, 2017

In 2015, we put out a blog with a similar title to get you thinking about some key considerations for a “resolution” to retire your outdated legacy policy administration solution and to replace it with a shiny, modern solution. While all that advice is still pertinent (and can be found here), 2017 brings more for… Read More