P&C类保险公司可以成功实现核心系统的现代化

Modernization is oneof the most pressingchallenges facing the property and casualty (P&C)insurance industry. In the past decade, core systemsbuilt for a slower, paper-driven insurance modelhave evidently become no longer fit for purpose.They leave carriers struggling with operationalinefficiencies, rising IT maintenance costs, andgrowing pressure to meet customer expectations forreal-time responsiveness, such as instant quotes andfaster claims payouts. Staying competitive demandsadopting cloud-based, scalable solutions to enableautomation, real-time data analytics, and greaterconnectivity with other players in the ecosystem.Today’s modernization decisions are taking placein a fundamentally new environment. First, large-scale software-as-a-service (SaaS) platforms—built on modern architectures designed forcloud operations, continuous updates, and deepintegration with carrier ecosystems—are now viableat scale. Second, the convergence of data, genAI, and cloud compute has created a foundationfor insurers to adopt emerging technology moreaggressively than ever before, provided the platformis stable and scalable. These shifts mark a clearbreak from the landscape of a decade ago.This all makes modernization challenging. Whilesome carriers in the United States have begunheavily investing into transforming existing systems,results have been mixed, with many carriers notfully realizing expected returns. That has left mostUS insurers at a crossroads—still investing inlegacy systems, still evaluating whether to buy orbuild new ones, and still figuring out how to bestselect a vendor or effectively build an in-housesystem. In Europe, most carriers choose systemsfrom vendors because carriers tend to operate at asmaller scale, yet many struggle to make a strongbusiness case for modernization because large-scale replacements are often seen as too costlyand complex. That leaves many insurers pursuingincremental strategies such as progressivelymodernizing, hollowing out legacy systems, andupgrading select components to manage risk andmaximize value. And in Japan, leading carriers stillusing mainframe systems are considering movingtoward cloud-based vendor solutions. But aside from the cost and integration implications, insurersare concerned about fulfilling the heavily regulatedprocess requirements of the Japanese market.Technology modernization is often viewed asan IT-led effort requiring limited involvementfrom business stakeholders. Yet a willingnessto reimagine and redesign business processesis critical to achieving the business cases fromsuccessfully transforming core systems. Thetraditional divide between insurance business andIT leadership is no longer tenable. Success requiresshared ownership, joint prioritization, and anoperating model in which business and technologyleaders propel transformation together.This article provides new perspectives on issuesregarding vendor selection and building, buying,and upgrading core P&C insurance systems. Italso examines key decision criteria and proposesa structured approach to modernization thatmaximizes the realization of business value.With the right approach, carriers can unlock thefull potential of their modernization objectives:improved operational efficiency, reduced IT costs,enhanced customer experiences, and strengthenedecosystem connectivity.Build or buy? Six dimensions ofcore platform transformationDeciding whether to build custom solutionsin-house, purchase commercial off-the-shelf(COTS) platforms, or upgrade existing systems isa complex choice. While once a balanced debate,the center of gravity is shifting on this issue—fewercarriers are pursuing full custom builds, and moreare exploring ways to extend legacy systems withmodern wrappers or to leverage SaaS platforms. Inthe United States, roughly half of the leading P&Ccarriers opt to buy and configure systems, while halfdecide to build. In Europe, most established carriershave heavily customized COTS platforms and mustdecide whether to update them.Each approach has pros and cons. Carriers pursuingproprietary builds have greater control, tailoredcapabilities, and easier adaptation for futureHow P&C insurers can successfully modernize core systems innovations. However, while carriers prioritizefolding legacy products, businesses processes,and operations into the new stack, they tend tostruggle with long timelines, limited scalability, andescalating costs. And they especially underestimatethe full cost of long-term maintenance andcontinuous innovation. Building projects often lockin innovation at go-live, and when overruns occur,underdocumentation and cuts to training leaveorganizations unable to evolve the platform.Carriers opting for COTS platforms gain fasterimplementation, upgraded timelines, and greaterinnovation capabilities, enabled by a constantchange model in which the vendor drives ongoingplatform evolution. However, they often have issuescapturing the full potential of new systems. Whilemost carriers now re