Industry Speaks - Q&A with Terry Brown, Vice President of Implemenation Services at Insuresoft

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INN:
What are the advantages and disadvantages of a best-of-breed versus an end-to-end solution? When does it make sense for a carrier to choose one over the other?

TB:
Best-of-breed solutions, in theory, should satisfy the business units desires and needs to improve each respective business unit. In reality, carriers should not lose sight of some of the integration complexities. This can be best represented through overall lack of data transparency, utilization of different technology stacks, and lack of consistent user interfaces. To help mitigate these risks, carriers should look to partner with a vendor that can implement one module at a time yet still provide the majority of the end-to-end core applications. More specifically, the carrier can then focus on improving internal operational efficiencies and leverage system benefits compared to managing the product integrations.

INN:
How should carriers go about getting the support they need from policy administration technology providers for successful deployment of new or enhanced systems?

TB:
Carriers have the unique ability to leverage the expertise provided by technology vendors as they are going through a deployment of a new solution. More specifically, a carrier can leverage the rich industry and technology expertise provided to them through a vendor by taking advantage of their client list. I would also suggest that you spend time with existing vendor customers to understand what support record the vendor historically and currently provides to its customer base. Lastly, it is imperative to have a detailed project plan in place that clearly defines goals and identifies the needed resources from both parties.

About Insuresoft, Inc.:

Insuresoft is a Microsoft Gold-Certified independent software vendor delivering insurance software to the property and casualty insurance industry. Insuresoft offers a suite of products and services that are configured to meet the unique needs of insurance companies and managing general agents in North America. Insuresoft is a privately-held company headquartered in University Park, Illinois, with offices in Tuscaloosa, Alabama. Visitwww.insuresoft.com.

News Source : Industry Speaks - Q&A with Terry Brown, Vice President of Implemenation Services at Insuresoft