Report Summary:

Core policy administration replacement is one of the highest priority projects among L/H/A insurers in the US. Nearly every one of those insurers has the same questions: How does our project compare to those of our peers? Are we spending too much? What results can we expect to gain? What has been the experience of others who’ve taken this step?

This report, based on a survey of 8 L/H/A insurers who’ve completed policy administration systems projects over the last 10 years, is designed to provide partial answers to these questions. The report includes over 15 charts and tables outlining average resource utilization, costs, timeframes, and project impacts, as well as discussions of major challenges faced and overcome.

CONTENTS

Introduction…2
Key Findings and Recommendations…3
About the Sample…4
Lines and State…5
Components …6
Time…7
Resources…8
Costs…10
Impact…11
Challenges..13                                      
About Novarica…14