Adaptik Introduces Seminal White Paper on Adaptive Policy Administration Systems

Adaptik Introduces Seminal White Paper on Adaptive Policy Administration Systems

BETHLEHEM, Pa., Dec. 2 /PRNewswire/ -- The Adaptik Corporation today announced a white paper on adaptive policy administration systems.

Entitled "Adaptive Policy Administration Systems: 12 Ways to Know if a System is Truly Adaptive," this paper provides a comprehensive yet practical understanding of the underlying architectural issues faced by most policy administration systems.

Traditional policy administration systems are notoriously costly to change. This is because they were built to support a specific set of functions within a rigid framework. The complexity of these systems increases with each change such that, after a few years, even small changes become difficult to make without breaking something else within the system.

Such rigid systems significantly weaken an insurer's ability to compete. Some insurance companies spend in excess of one hundred million dollars per year enhancing and maintaining their systems and yet one business executive complained that the "real costs" are in the business opportunities that are lost because of system inadequacies.

Over the last decade, there has been a growing realization that effective policy administration systems must be adaptive. To become light on their feet while dramatically scaling back unsustainable IT spending, insurers are now seeking systems that can accommodate change rapidly without reprogramming or increased complexity.

However, determining which systems are truly adaptive can be tricky - there is often a quagmire of marketing hype to wade through. Some vendors claim to have adaptive applications after adding a few user-maintained parameters on top of a traditionally designed system.

This white paper puts forth twelve fairly simple tests for determining a system's adaptive quotient. Our objective is to avoid marketing hype and articulate what makes a policy administration system flexible in ways that provide real business value. We believe establishing such clarity will help insurers as well as system vendors like Adaptik.

A complimentary copy of the white paper can be downloaded from the Adaptik website at http://www.adaptik.com/.

About Adaptik Corporation

Located in Bethlehem, Pennsylvania, Adaptik Corporation provides highly flexible and cost-effective software solutions to Property & Casualty insurers. Adaptik's flagship product is PolicyWriter, a uniquely adaptive browser-based system that goes far beyond traditional policy administration. PolicyWriter significantly speeds up the introduction and evolution of insurance products, allowing insurers to quickly take advantage of business opportunities. For additional information, please visit http://www.adaptik.com/ or call (800) 306-1062. Call Adaptik to experience our dramatic speed and versatility. We can tailor PolicyWriter to match your exact needs before others can gather your business requirements.

CONTACT:
Ms. Loretta McGranaghan
Adaptik Corporation
Phone: (800) 306-1062 Ext. 213
Fax: (908) 317-5620l
mcgranaghan@adaptik.com


Source: Adaptik Corporation

CONTACT: Ms. Loretta McGranaghan, Adaptik Corporation, +1-800-306-1062
Ext. 213, Fax: +1-908-317-5620, lmcgranaghan@adaptik.com

Web site: http://www.adaptik.com/


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