Cheap gas and more miles driven per vehicle have been two contributing factors to an increase in auto claims. However, these aren’t the only two causes.
Despite the anticipation of driverless cars, many are concerned about the cybersecurity risks associated with them.
If your new system can’t handle a significant increase in the number of concurrent users and in-force policies, what’s the point? You’re in business to grow, not to stagnate.
If your business experienced high growth in the next year – say, a 25 percent increase in policies in force – would your core systems be able to handle it?
It’s no longer enough that a P&C policy administration solution be able to tout itself as “rules-based.”
No matter how well a core P&C insurance software solution functions, a clunky user interface or an unintuitive user experience can significantly impact ROI.
At Adaptik, when we say “configurability,” we mean business user configurability. The difference between that and IT configurability – the domain of many policy admin suites – is stark.
P&C insurance carriers depend on a wide variety of systems and applications to keep their business running. We can help.
For a policy administration system to deliver true ROI, it’s not enough that it be able to aptly handle simple products and lines. Complexity matters, too.
No two P&C carriers are alike. Even among Tier 1 and Tier 2 insurers, internal IT capabilities, cashflow realities and technology strategies vary dramatically. One size definitely does not fit all.