Navigating the Future: The Role of Policy Administration Systems in Insurance

This presentation offers a comprehensive exploration of Policy Administration Systems (PAS) and its integral role in the insurance industry. Designed to manage all aspects of insurance policies, a PAS automates essential tasks such as policy creation, claims processing, billing, and customer relationship management. By streamlining these operations, PAS enhances efficiency and accuracy, serving as the backbone of insurance operations. Attendees will gain insights into how PAS functions as a system of record for policy transactions, ensuring data integrity while maintaining compliance with industry regulations.
Furthermore, the presentation will discuss the various options available for obtaining a PAS, including building custom solutions, purchasing third-party systems, or partnering with insurance-as-a-service providers. Challenges associated with implementation will also be addressed, along with future trends that are shaping the evolution of PAS in the context of emerging technologies like artificial intelligence and machine learning. By the end of this session, participants will have a clear understanding of how Policy Administration Systems transform insurance operations and their significance in delivering an enhanced digital experience for customers.
Speaker(s): SHARMILA CHANDARIAH,
Agenda:
5:00 to 5:05 PM Introduction and welcoming remarks,
5:05 to 5:45 PM talk,
5:45 to 5:55 PM Q&A,
5:55 to 6 PM Closing and adjournment
Virtual: https://events.vtools.ieee.org/m/446838