The Property and Casualty insurance industry is making huge investments in new core systems. The analysts have named this the industry’s “Digital Transformation” and many carriers have set ambitious goals. In general their goals are to:
- Use technology to streamline and automate the personal lines product lifecycle from underwriting to claims.
- Speed and simplify the quotation process so that it can support the customer’s increasing demand for multiple quotes and rapid, certain decisions.
- Reduce both operational and distribution costs.