Carol Bar­ton

Vice Pres­i­dent – Busi­ness De­vel­op­ment and Mar­ket­ing, WaterStreet

Digital Insurance - - POLICY ADMINISTRATION - CON­TACT IN­FOR­MA­TION Carol Bar­ton, Vice Pres­i­dent – Busi­ness De­vel­op­ment and Mar­ket­ing, WaterStreet email:­[email protected]­ter­street­com­ Of­fice: 864-434-0262 Mo­bile: 412-999-4880

What are the driv­ers be­hind PAS re­place­ments? How do the in­te­grated func­tions and an­a­lyt­ics-friendly fea­tures of these sys­tems help in­sur­ers op­er­ate more ef­fi­ciently?

In­tense com­pe­ti­tion, con­tin­u­ous change (in­clud­ing in­dus­try and tech­nol­ogy dis­rup­tion), and cus­tomer de­mand for dig­i­tal chan­nels and self-ser­vice:

All of these fac­tors drive PAS re­place­ments. At this point, in­te­grated func­tions and an­a­lyt­ics friend­li­ness are givens. But the re­ally ad­vanced sys­tems of­fer “head­less” (GUI-free) so­lu­tions that op­ti­mize mi­croser­vices within lay­ered ar­chi­tec­tures. This ap­proach fos­ters dif­fer­en­ti­a­tion in two ways: By fa­cil­i­tat­ing con­tin­u­ous de­liv­ery and de­ploy­ment, it en­ables in­sur­ers to stand up new prod­ucts and roll out changes more rapidly. It also pro­vides in­stant ac­cess to the sin­gle, com­pre­hen­sive data source that a car­rier needs for risk eval­u­a­tion and crit­i­cal de­ci­sion mak­ing.

How do the lat­est pol­icy ad­min sys­tems help car­ri­ers dif­fer­en­ti­ate their of­fer­ings and re­spond more fully to cus­tomers' ex­pec­ta­tions?

Car­ri­ers can earn the loy­alty of cus­tomers who want to do busi­ness any­where, any­time, by build­ing in­tu­itive por­tals that pro­mote ever-more-ex­cep­tional user ex­pe­ri­ences. Those cus­tomers want to buy, sell, and con­duct re­search via text, email, Mes­sen­ger … and plat­forms that are just now emerg­ing. Amid rapidly chang­ing mar­ket dy­nam­ics, the most suc­cess­ful car­ri­ers are the ones able to mod­ify op­er­a­tions and pro­cesses quickly and seam­lessly. That's where the ex­treme flex­i­bil­ity of to­day's ad­vanced pol­icy ad­min­is­tra­tion sys­tems pays off. And that flex­i­bil­ity de­pends on ef­fec­tively en­gi­neered, mul­ti­lay­ered soft­ware ar­chi­tec­tures like those that WaterStreet Com­pany em­ploys.

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