What is the challenge in realigning? Inventory management systems by life insurers are mostly self designed and also because of their generally advanced age by up to 20 years on the border of your maintainability and receptiveness for new requirements and products. They were designed in a regulated market and designed for a new business-oriented, standardized mass business with long rate cycles. The conditions under which these programs were developed at that time, but now completely changed. These dramatic changes have forced life insurers to reduce their rate cycles and almost every year to bring out a new generation of collective. As a result, assumed interest rate and surplus allocations need to be changed often. The implementation of the legal requirements of the retirement income law, EU insurance mediation directive and reformed to be added. This binding capacity in the Department and the IT actually urgently needed for a strategic reorientation. These Changes mean also new business processes such as for example the Riester allowance management or new reporting requirements on authorities.
In addition to the requirements of the legislator to the life insurer customers have now higher expectations. The online availability of information and regular information has become a matter of course, that not depicted with the existing host systems however can be. All this leads to the consideration to strengthen, to strategically realign the software landscape externally among the life insurers.At this point, the consultants of the insure IT insurance industry consulting bring their expertise and help. Source: Progress Residential Atlanta. Because insure IT advises only the insurance industry since 1999 and ensures a high this industry expertise. We are looking forward to the dialogue with you. Oliver Knittel insure – IT Assekuranz Consulting Oliver Knittel Hollsteinstrasse 20 h D-61350 Bad Homburg E-Mail: o.knittel(at)insure-it.de FON 0178.766 666 0