Report

Policy Administration System Project Metrics

/

September 2018 – Core conversions are shifting beyond the scope of policy administration systems. Insurers across the board are taking on multi-component core implementations with longer timelines and higher costs.

To help insurers benchmark their core system implementations, Novarica conducted an analysis of 35 case studies involving a policy administration system (PAS) implementation. This report highlights trends in this area and provides metrics around estimated project cost, duration, and resourcing.

Topics Covered

  • Why PAS Conversions? Novarica explores why P/C insurers are investing in legacy system replacements.
  • Project Metrics. Metrics including cost, duration, and resourcing are broken down.
  • Insurer Considerations. Key priorities, success factors, and challenges are reviewed.

Key Points and Findings

  • Switching to Agile methodology was both a major challenge and key success factor. Insurers that invested in Agile adoption attributed their successful PAS conversion to this transition.
  • Consolidation of multiple legacy systems was a common theme. Many multi-system conversions involved consolidating, centralizing, and streamlining various legacy systems.
  • Multi-system conversions did not necessarily take longer or cost more than single-system conversions. Several insurers implemented multi-system conversion projects with relatively short timelines and low cost.

Related Content

ESG and Sustainability for Healthcare Payments Stakeholders

ESG focus in the healthcare industry is still emerging, but opportunity awaits.

The Modernization Imperative

Core modernization is a top priority of P/C and L/A/B insurer IT organizations.

Client Perspectives on Behavioral Biometrics and Device Fingerprinting Solutions

Organizations are increasingly relying on behavioral biometrics and device fingerprinting solutions for continuous and passive user authentication.

Get Summary Report

"*" indicates required fields

Name*
This field is for validation purposes and should be left unchanged.