Many Taking a Stepped Approach toward STP
February 1, 2008
By some accounts, straight-through processing (STP) is becoming downright common these days. Donald Light, senior analyst at Boston-based Celent LLC, estimates that in the personal lines property/casualty and automobile segment of the industry, 70% or 80%—maybe more—of applications are being processed using STP. “You’ve got rating and pricing and processing algorithms pretty much all in place,” he says.
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