Will Watling, director - insurance solutions, Equisoft, discusses the need for product providers to be able to make product changes or develop new products, independent of their policy admin system (PAS) vendor.
An important factor in the modernisation strategy for PASs is provider autonomy from the vendor. While software as a service (SaaS) agreements with PAS vendors reduce the load on internal IT and ensure the PAS stays up-to-date and managed, providers need the capability to configure products themselves or work with system integrators and third parties, increasing agility and accelerating product development. Many providers have outdated legacy systems needing replacement, if they're to take advantage of the benefits artificial intelligence (AI) can bring to reduce costs, improve efficienc...
To continue reading this article...
Join COVER for free
- Unlimited access to real-time news, key trend analysis and industry insights.
- Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
- Receive breaking news stories straight to your inbox in the daily newsletter.
- Members only access to monthly programme 'The COVER Review'
- Be the first to hear about our CPD accredited events and awards programmes.