Drawing a Map for Migration: Moving Safely to a Single Rating Engine
Date Held: May 7, 2012
Hosted by: Insurance Networking News
Duration: 60 Mins.
Sponsor: Oracle Insurance
Insurers continue to be plagued with multiple systems that complicate their IT environments and make it difficult to bring innovative offerings to market. As a result, more and more insurers are undertaking transformational projects to move from old, inflexible processes to new, more efficient ways of doing business.
A good place to begin is by migrating to a single rating engine, giving the insurer the ability to improve pricing accuracy, calculate rates based on many more factors, and ultimately offer more competitive products. But in the move to a single rating engine, many questions arise: How do we safely move our data from multiple, legacy rating engines to a single, rules-driven system? What factors do we need to consider, and where do we start?
In this webcast, attendees will learn ways to map out a migration process so that the insurer can safely move to a single point of rating truth, and begin reaping the benefits of innovation.
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