Category: Insurance

When insurers face unique business challenges, proprietary software may be the best, or only, solution. Insurance companies with limited options for complex business models, niche processes, or unique business opportunities seek solutions to build proprietary software. This fifth in our…

General Ledger conversions are a heavy lift for any insurance company, and they come with substantial costs. Your accountants already work long hours before an implementation project doubles their workload. Complex projects face considerable risk of failure during the lengthy…

An effective financial strategy seamlessly embeds accurate and timely accounting within an insurance company’s regulatory compliance structure. An integrated approach requires a foundation designed with this end result in mind. Building an execution model within your organization empowers your team…

Executives know that an effective enterprise strategy involves compliance and risk management. Effective compliance, relative to regulatory and enterprise objectives and controls, results in more efficient execution of strategic goals. There is a known drag on an organization that has…

Insurance companies, in the age of digital transformation, see opportunities in replacing legacy IT systems with third-party software solutions. This third in our series of articles about digital transformation in the insurance industry looks at third-party software solutions for replacing…

In the insurance industry, a lot rides on a single decision. Choosing the core software system may be one of the longest-lasting and most large-scale decisions an organizational leader may make. Unfortunately, selecting the wrong software architecture or implementing a…

Deciding whether to update your insurance company’s legacy information system is the business equivalent of determining whether or not you want to replace the failing transmission in your otherwise reliable, 10-year-old car with 200,000 miles on the odometer. Will that…

  Accurate or not, the use of technology and systems development in the insurance industry has the reputation of being conservative. That approach may have worked in the past. Today, insurance companies need high-quality information to make better-informed decisions. Going…

It’s 9 a.m. on a Saturday. Something failed at work, and you are “on call” this weekend. The legacy system limps on life support, years past its expiration date. Those who understand the system’s ailments, idiosyncrasies, and inner workings have…