Skip to Main Content
Access your saved content
Annuity systems are not effectively meeting the business needs of many annuity carriers. How can they create a truly modern annuity system? One option is total replacement. But the current IT budget crunch generally prevents all but a few companies from pursuing that approach.
Another path forward is “fronting”—leveraging a leading insurance software platform to provide a new, updated user interface layer to the legacy systems. A third approach is a hybrid of those two—replacing critical systems immediately while leveraging fronting capabilities for others and pursuing a phased approach over several years to migrate those systems to a modern platform.
Whichever path is chosen, modernizing the annuity system can pay big dividends. It can enable insurers to increase speed to market, improve operational efficiency and drive down costs. Better products can be developed, customers served more effectively and compliance-related process changes can be made more efficiently.
March 4, 2014
Skip Footer Links