NU Online News Service, Dec. 17, 8:58 a.m. – More senior U.S. insurance industry executives are worried about legacy policy administration systems than any other technology issue, according to an informal survey conducted by Sapiens International Corp., Research Triangle Park, N.C.
Sapiens, which polled executives in November at the ISOTECH 2002 conference in Orlando, found that 29% of the participants identified doing something about old policy administration systems as their top technology concern.
Agent/broker Internet transactions and regulatory compliance tied for second. Those issues worried 13% of the participating executives.
Eleven percent of the executives were most worried about implementing standards, but only 5% were most concerned about enhancing the claims process.
Sapiens is a unit of Sapiens International Corp. N.V., Rehovot, Israel.