New report provides CIO best practices for the most complicated endeavors executives will ever lead.
Implementing a policy administration system (PAS) is arguably the most complex technology project that insurers can execute. Since core systems are replaced infrequently, with many carriers only pursuing initiatives once in a generation, successful execution requires careful planning and effective partnerships. In a new Impact Report, PAS Lessons Learned: Implementation Best Practices, research and advisory firm Aite-Novarica Group provides insight into what best practices carriers need to proactively pursue when considering, executing, course-correcting, completing, or terminating PAS projects coordinated with PAS vendors, integration partners, system implementation resources, actuarial consultants, external testers, and any non-employee staff working on the endeavor.
“PAS implementations are among the most complex projects any insurer will ever undertake,” said John Keddy, Senior Principal at Aite-Novarica Group. “Embarking on these projects with a sense of pragmatism and reality will help as new risks are encountered and operational plans are refined to drive initiatives through an array of evolving issues.”
About Aite-Novarica Group:
Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to hundreds of banks, insurers, payments providers, and investment firms—as well as the technology and service providers that support them. Comprising former senior technology, strategy, and operations executives as well as experienced researchers and consultants, our experts provide actionable advice to our client base, leveraging deep insights developed via our extensive network of clients and other industry contacts. Visit us on the web and connect with us on Twitter and LinkedIn.