10 Steps to Ensuring Success of a Core Systems Replacement

Moving ahead, the industry has shifted its mindset from 'should I replace?' to 'how do I replace successfully?'; a new report from Celent aims to answer just that.

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Adopt not adapt

One of the lessons learned by insurers that have completed their implementation of new packages is the negative impact of bending the package to fit unique requirements. There will be a strong tendency within the business to minimize the change and to replicate current products and processes. This could lead to increased costs down the road if further updates are need; this potential cost needs to be balanced against the value to the business of bending a new solution to avoid making certain changes.


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