Many insurers are figuring out how to deal with the fact that their legacy document management systems will soon be unsupported by their vendors. Technology and business executives can treat this as an opportunity, but it is clearly also a challenge -- in that it forces a decision -- and one that comes at a crucial time. We’re going to discuss the various options insurance companies have during an online discussion featuring distinguished industry analyst Matthew Josefowicz of Novarica. Let's take a brief look at the issues we will discuss on Thursday:
Insurers continue to play catch-up with customer expectations set by other consumer-facing industries. Among carriers' greatest challenges today is delivering personalized information through customers' increasingly diverse channels of choice. How can a given insurer best meet that challenge? The choice is essentially between migration to the existing vendor's new solution or conversion to an alternative platform.
CIOs and business unit heads need to find not only the most cost-effective and seamless transition to a new platform but they must also acquire better capabilities for delivering customized content -- they need to simultaneously improve service to levels that distributors and end customers increasingly demand, and streamline processes to cut inefficiency and permit internal professionals to focus on higher-value tasks. To achieve the best outcome, organizations must evaluate the relative merits of a range of possible options including extending the life of the legacy system as long as possible, migrating to a new platform by the legacy system's manufacturer, or dealing with the implementation and integration challenges of alternative systems from other manufacturers.
To register free of charge for our Thursday webcast on this topic, please click here.
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio