With the insurance industry going through noteworthy changes and consolidations, the need to streamline insurance policy administration has become vital for the success of a business. An efficient policy administration system can execute a number of core policy processes including rating, quoting, binding, issuing, endorsements, and renewals. What carriers need is a policy administration system that is engineered to support their needs for growth, market demands, and operational efficiencies.
Policy administration systems built on cloud are helping insurers eliminate the complications and save time. The integrated environment on cloud automates numerous processes including quote generation and renewals among others. Further, the analytics components of these solutions help diminish the underwriting loss, by assessing the risk and determining the areas to be improved.
To help CIOs and CFOs find the right insurance policy administration solution provider for their enterprise, a team of prominent CEOs, CIOs, and VCs along with Insurance CIO Outlook’s editorial board has evaluated the best players in the space. The companies featured here demonstrate an ability to develop innovative technologies combined with outstanding customer service and talent base.
In our selection, we looked at the vendor’s capability to fulfill the burning need for cost-effective and flexible policy administration solutions that will add value to the insurance landscape.
We present to you the Top 10 Policy Administration Solution Providers 2016.
