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Event Details
The constraints imposed by legacy systems are well understood in insurance. But it's time to rethink the landscape. Improving tools and shifting attitudes have opened up a new world of possibility.
It's easy to understand why many insurers are reluctant to attack their core systems. The modernization struggles of the last decade prove that the risks inherent in core system changes are high. Generating budget, balancing priorities, and fostering the culture change required to make new systems work effectively are all sizable hurdles.
But changing technologies and strategies are altering the landscape. Packaged solutions for core functions such as policy administration, claims, and underwriting are richer in functionality than ever before. New development methodologies are emerging. Domain-specific toolsets now allow insurers to automate, eliminate, or completely rethink traditional tasks. Most importantly, there is an evolution in how insurers are thinking about their core systems. Expectations are being reset. As a result, the competitive bar is rapidly being raised.
Join Celent for this high-energy workshop, designed to help IT and business strategists create the creative disruption necessary to fundamentally alter how insurance products are developed, implemented, and serviced. Whether you're a top-tier carrier, struggling with scope and complexity issues, or a mid-tier carrier looking to optimize your budget to create competitive advantages, this case-study filled day will help you organize and focus your efforts.
Media Partner: Insurance Networking News
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6:55 am
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Registration and Networking Breakfast
Sponsored by ISCS Sheraton Boston Hotel Back Bay Ballroom C & D, 2nd Floor
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7:59 am
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Keynote: The Case for Creative Disruption Craig Weber Senior Vice President Celent
Business imperatives, market trends, and technology shifts all point toward disruptive core systems approaches. Drawing on Celent’s research and experience, we will present a framework for setting core systems strategies and laying the groundwork for effective implementation. .
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8:27 am
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Building a Better Business Case
Russ Bostick Principal Bostick & Associates The business case for core systems change has lots of moving parts. This session will provide perspectives on the most realistic ways to evaluate hard-dollar and soft-dollar benefits, and how to recognize the timing and sourcing issues that can transform a losing case into a winner (or vice versa).
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9:22 am
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Achieving Delivery Speed: When the Business Needs It Yesterday Roger Johnson Vice President The Zenith
Traditional thinking on policy admin system development says it will take 12 to 18 months to go from concept to implementation. What happens if the business need is to have a completely new system ready in 12 to 18 weeks? This session will explore a real-world example where full functionality (PAS, claims, billing) was achieved for two lines of business in an incredibly short timeframe. The learnings regarding project strategy, decision making, sourcing, and vendor selection are insightful for project teams of all types.
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10:11 am
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Networking Break
Sponsored by Pitney Bowes Business Insight
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10:51 am
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The Case for Agile Development Mike Foerst CIO Missouri Employers Mutual
The waterfall methodology has carried many a core system project successfully. But agile methods and tools are helping some carriers challenge the status quo. This session will explore the game-changing benefits and nerve-wracking risks of agile and determine if your organization is ready to try something new.
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11:58 am
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Interactive Discussion & Lunch
Sponsored by AQS, Inc.
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1:17 pm
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Core Systems Strategy Roundtable Catherine Stagg-Macey Senior Vice President Celent Our panel of insurer experts will open themselves up for an inquisition in this no-question-too-tough forum.
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2:26 pm
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Networking Break
Sponsored by Ernst & Young LLP
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3:06 pm
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Ask the Vendors: Best Practices, Partnering Strategies, and Other Lessons Learned Mike Fitzgerald Senior Analyst Celent
Have you ever wanted to set your vendor straight on their role as business partner? Here’s your chance. This free-ranging discussion will help you to identify your biggest vendor pain points while a trio of experienced vendors will be on hand to weigh in and provide counterpoint.
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4:13 pm
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Benediction
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4:37 pm
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Cocktails & The Power of the Network
Sponsored by TCS
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6:37 pm
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Adjourn
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When & Where
Sheraton Boston Hotel
Back Bay Ballroom C & D, 2nd Floor
39 Dalton Street
Boston,
MA 02199
Thursday, November 3, 2011 from 6:55 AM to 6:35 PM (ET)
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Hosted By
Celent
Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].