When looking to purchase software solutions for their digitalization efforts, insurers are likely to find themselves spoiled for choice. On the one hand, there’s a range of all-purpose software tools available that insurers can simply adapt their processes too. On the other hand, however, there’s the option to purchase and implement specialty solutions that are tailor-made for insurance purposes.
The same logic applies when one is faced with the option to choose between generic enterprise software solutions and those that are explicitly built for insurers to use.
Generic software may help you stay afloat in the completion of your key processes. But purpose-built insurance software will make you even more efficient at these processes over time, thus actively adding to your business’s profitability.With the range of software tools out there, it may not be very hard to find tools that will fit the minimum requirements for calculating premiums and other figures involved in your insurance delivery.