Two Key Implementation Phases Where Information Is Generally Lost In Translation
Not every insurance technology implementation succeeds from a revenue generation and business process optimization standpoint. There are a few insurers out there who are still using systems that limit their business growth potential.
In our experience, there are many reasons we believe are behind it.
Insurance organizations are run on complex business processes. It’s not straight forward to encompass all the processes as business requirements. Even if insurance companies end up doing it, not many software vendors design the implementation scope into a long-standing working system. It is during these phases of business requirements and design that some of the most important aspects of a software solution get lost in translation.
Imagine the loss of revenue, time and energy if an investment of a technology setup does not succeed. Nobody fails intentionally; however, a lack of qualified talent needed to carry out an entire technology solution implementation might lead to complications.
Today, there are many software vendors that can provide technological solutions. But many of them are cross-vertical limiting their understanding of the insurance industry business processes. Only a few vendors like VUE Software bring their industry-specific domain expertise to build long standing technology implementations. That’s the foundation on which we boast a 100% projects implementation success ratio.
It always pays off when insurance companies do their due diligence while researching available technology options. It’s equally important to find the right partner for you to realize your current and future business goals.
Check out this video testimonial from the SVP of Insurance Operations, and CIO for Cypress Insurance Company on the technology selection process, vendor partnership and more. This is a great resource for any level executives looking to revamp their existing business operations and processes.