In a Greenfield approach, instead of modifying existing systems, the new platform is created from a clean slate without the need for new code to be written and with no restrictions or dependencies on legacy tech. This allows insurers to create an open environment for integration with innovative digital insurance technologies (DIT) that streamline new business and underwriting processes.
In this eBook you will learn:
- The benefits of Greenfield vs Big Bang Modernization
- How to implement greenfield policy administration system modernization
- 4 success factors for Greenfield PAS modernization
- How to integrate Greenfield initiatives into your overall enterprise plan for digital transformation
Features a detailed checklist of all major activities that need to be executed before and after new system implementation.
What is Greenfield PAS modernization? #
Explains the Greenfield approach to PAS modernization
What are the benefits of Greenfield vs Big Bang modernization? #
Discusses the benefits of modernizing policy administration systems, including increased efficiency, reduced costs, improved customer experience, and enhanced data analytics capabilities.
How to Implement Greenfield Policy Administration System Modernization #
Discusses the steps involved in implementing a Greenfield policy administration system modernization, including:
- Assessing the current policy administration system and identifying pain points
- Evaluating potential solutions and selecting a modernization approach.
- Developing a project plan and timeline
- Building a cross-functional team to oversee the project
- Testing and rolling out the new system
- Training staff and communicating changes to customers
4 success factors for Greenfield PAS Modernization #
Discusses the key considerations that organizations should keep in mind when implementing a Greenfield policy administration system modernization, including: align project with overall digital transformation plan, shift to digital thinking, ensure flexibility of new system and obtain buy-in from all stakeholders
This eBook summarizes the benefits of Greenfield policy administration system modernization and emphasize the importance of careful planning and execution to ensure a successful outcome.