Weighing the Risks of Policy Administration Replacement: Migration vs. Status Quo

In a recent Oracle Insurance blog I highlighted research conducted by insurance industry analyst and advisory firm Novarica on IT budgets for 2011. This research cited policy administration replacement as the top priority for life and annuity carriers. Yet, despite the promised benefits – such as agility and improved speed to market – there are significant risks involved.

Replacing these systems, which are core to a carrier’s operations, carries more risk than just about any other IT project. How can you make sure your company is on the right track?

Tomorrow, the firm will comment and expand further on this research during a free, one-hour webcast featuring the author, Novarica partner Chad Hersh. Also participating will be Oracle Insurance product strategy director, Kate Fowler, FLMI, AAPA. Together, they’ll discuss how insurers are approaching and managing the risks of data migration and conversions when modernizing their core systems.

You’ll also learn how adaptive, rules-driven technologies have helped leading life, health and annuity insurers to:

  • Reduce reliance on IT to make product changes and updates
  • Streamline product development including quality assurance
  • Improve management of rule migrations and standards
  • Accelerate speed to market for new and adapted products
  • Improve visibility into every transaction for better servicing

We look forward to your participation on Thursday, May 12, 2011, 1:00 PM ET (10:00 AM PT). Please register now.

Helen Pitts is senior product marketing manager for Oracle Insurance's life and annuities solutions.

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