Product Development and Configuration Solutions
In its list of top ten technologies to impact the property and casualty insurance industry, Gartner highlights Product Development and Configuration Solutions.
It says one of the top business priorities among P&C insurers is improving speed to market for new products. Legacy environments make this task difficult, if not impossible. New systems will help drive down product development cost but, more importantly, will allow insurers to get products to market faster than their peers that continue to rely on legacy systems. Furthermore, it will allow leading-edge companies to be product leaders that can create niche products in a cost-effective manner, respond quickly to emerging product needs, and support on-demand customization of products. All of this is linked to revenue generation and customer attrition.
