Insurance software platforms face a plethora of challenges
In this latest IT Web article Dane Richards, CTO of JMR Software says that insurance companies usually only consider migrating to a new platform when their existing core platform no longer serves their current needs or the p
ain points around that platform have reached a point where it’s no longer viable to continue with it from a business perspective.
He goes on to discuss common pain points experienced by insurance companies during migrations, as well as the challenges they face and how they can plan ahead to mitigate those pain points. H highlights the four main challenges common to the insurance sector when moving away from an old platform during data migration, and that focus on the core policy administration elements. These include inflexibility, inaccessibility or accuracy of data, regulatory changes and security.