Insurers: Taking on the Cutting Edge and Adding Value

Kevin M. Walma
Chief Information Officer
AdminServer, Inc.

Kevin, it is a pleasure to have you with us. What do you think was behind the successes last year in integrating data and improving straight-through processing?

Firms enjoyed success by taking advantage of such technologies as Microsoft Office SharePoint Server 2007 to easily and seamlessly support the connection between users and data processing. For example, using SharePoint to integrate insurance brokerage users in the field directly into back-end application capabilities; allowing customer data exposure via the same application security models, while search and transactional functionality of the back-end policy administrative platforms are performed in real-time.

Next steps for 2008?

The ability to introduce innovative insurance products to market in a reasonable timeframe while satisfying new compliance standards and retaining a skilled workforce is a challenge with legacy systems. New software solutions are much more functionally rich, offer a high degree of flexibility to meet carrier specific goals, and allow for a continuous upgrade path. Modern policy administrations systems enable insurers to support all lines of business as well as multiple languages and currencies via a single platform. Now insurers have a real choice to make dramatic and cost effective moves with major impacts on the industry.

What technologies are you most excited about?

Applications embracing Web 2.0 technologies and taking advantage of platforms like the ASP.NET framework offer great potential. The impact of AJAX in applications connecting a real-time SOA is significant. Data can move more quickly and efficiently in support of the business processes with less “full-page” round trips from the browser to the server, resulting in a more intuitive user experience. Another advancement is virtualization and the possibility of cutting support costs, increasing utilization of existing hardware, and allowing for more portability of application environments.

Your one message?

Recognize where other carriers have utilized SOA to provide ROI. Improved customer experience via Web-based interaction, 24/7 distribution channel access to policy and compensation information, and quick deployment of new products in response to the competitive market are all benefits being realized by companies that have done a good job of assembling their technology pieces.