Sponsored: Delphi Technology Inc.

Insurers Challenged By New Technology Driven Landscape

A legacy administration platform that is modern and adaptable to ever-changing market conditions is critical to P&C insurers.
By: | February 1, 2017 • 5 min read

A host of new technologies is creating a new reality for insurers; one that includes competition from non-traditional players and small carriers, and one where speed to market is more critical than ever to gain an advantage.

Technology has made it easier for more entities to enter the market. Smaller, newer insurers typically have more updated systems and can adapt to change more nimbly, giving them an edge over their larger and older counterparts. Non-traditional companies, specializing in the creation of new tools, apps and software, are starting to fill a need for customers and agents that previously fell to insurers who now may be struggling to keep up.

“Carriers are under siege from non-traditional players,” said John J. Flavin, Senior Vice President and Chief Business Development Officer, Delphi Technology. “They’re starting to edge in to provide modern systems and additional data sources for the industry, agents’ manual processes for collecting information are fading out.”

As with any change, those who can’t adapt quickly stand to fall behind.

To succeed in this new reality, insurers need to shed the constraints of their legacy administration systems in exchange for a more modern, flexible platform that conforms to changing customer demand quickly and can get products to market ahead of the competition.

Overcoming Cumbersome Systems


John Flavin, Senior Vice President and Chief Business Development Officer

Legacy policy administration systems are built on code and can only be changed with the help of a skilled programmer changing code by hand on the back end. No handy user interface here. Updating and maintaining products means enlisting the IT department, and the process can be complex and time consuming.

Additionally, legacy systems allow little room for communication and collaboration with either internal stakeholders or external parties like agents. This adds even more time to the project of updating a policy and gaining approval from those parties. Collecting data from agents and input from other stakeholders, and incorporating that information into the product through a legacy system is time-consuming. Those delays matter when speed to market is a key competitive factor.

A flexible, rules-and-tools based system, on the other hand, can more easily conform to a carrier’s workflow and adapt to change.

Delphi Policy, built on Delphi Technology’s new Velocity platform, provides that flexibility.

“Delphi Policy is a rules and tools based modern platform that allows carriers to respond to market needs and connect with their customers more easily. It becomes the central point of contact from a point-of-sale perspective for underwriters to do business,” Flavin said.

A flexible platform like Velocity can support both a collaborative workflow as well as increasingly popular straight-through processing. Straight-through processing, or automated underwriting, allows policy submissions or renewals to be processed start to finish almost entirely untouched by human hands.

As long as a submission meets criteria set by the underwriter, the system can generate a quote, bind the coverage and issue a policy. The underwriter would only have to look at those outlier submissions that trigger what Flavin calls underwriting referrals or “knockout” questions: responses that fail to meet certain criteria like loss ratio, premium, class code or loss history threshold requirements.

With a modern system, underwriting management has more freedom to set underwriting  criteria and mandatory questions themselves. This increases the quality of submissions, processing efficiency and the performance of the underwriter.

Modern systems can integrate with 3rd party data sources to pre-fill submissions, which significantly cuts down on the time it takes to collect relevant information and provides the user with a better online experience.

Delphi Policy’s ability to import and export data to other modules so other parties can view it also allows for communication and collaboration between underwriter, claims examiner, billing manager and agent. This makes for a more interactive user experience for colleagues, agents and customers and allows the underwriter to quickly resolve any questions.

“Policyholders are getting used to communicating with agents and carriers in a variety of electronic methods,” Flavin said. “The Velocity platform supports that collaboration, exchange of information and interaction with role based, context sensitive access to information.

Prepping New Products with Delphi Policy

In conjunction with Delphi’s Accelerator product workbench, underwriters can maintain rates, rules and forms for existing products or create new ones in a “sandbox” environment, allowing them to test launch and share new policies with stakeholders before going to production. The Delphi Accelerator dashboard — a central, business-friendly work area that provides access to multiple tools and modules simultaneously — deploys products directly to Delphi Policy when they’re ready for production.

“It takes months of code and/or configuration in order to create and launch products in a test environment with legacy systems. It takes a lot more research and business planning to decide if you want to deploy your resources to create a test bed of any kind,” Flavin said.

With Delphi Accelerator, it’s easier to react to market demands. Product managers can test out new deductible or coverage options, and model a book of business based on the changes. And because changes can be made using a built-in tool, rather than through adjusting code in the back end, business users don’t need to call in IT to get the job done.

Because Delphi Policy is available as a cloud-based solution, it can take hardware maintenance out of the equation altogether. And with the integration of Delphi’s claims and billing modules, it provides a one-stop-shop suite of tools for full policy lifecycle management.

To learn more about Delphi Policy, visit www.Delphi-Tech.com.



This article was produced by the R&I Brand Studio, a unit of the advertising department of Risk & Insurance, in collaboration with Delphi Technology Inc. The editorial staff of Risk & Insurance had no role in its preparation.

Delphi Technology is the recognized leader in technology solutions for medical professional liability insurance and an emerging provider of technology solutions for property and casualty insurance.

More from Risk & Insurance

More from Risk & Insurance

Risk Management

The Profession

Janet Sheiner, VP of risk management and real estate at AMN Healthcare Services Inc., sees innovation as an answer to fast-evolving and emerging risks.
By: | March 5, 2018 • 4 min read

R&I: What was your first job?

As a kid, bagging groceries. My first job out of school, part-time temp secretary.

R&I: How did you come to work in risk management?

Risk management picks you; you don’t necessarily pick it. I came into it from a regulatory compliance angle. There’s a natural evolution because a lot of your compliance activities also have the effect of managing your risk.

R&I: What is the risk management community doing right?


There’s much benefit to grounding strategic planning in an ERM framework. That’s a great innovation in the industry, to have more emphasis on ERM. I also think that risk management thought leaders are casting themselves more as enablers of business, not deterrents, a move in the right direction.

R&I: What could the risk management community be doing a better job of?

Justified or not, risk management functions are often viewed as the “Department of No.” We’ve worked hard to cultivate a reputation as the “Department of Maybe,” so partners across the organization see us as business enablers. That reputation has meant entertaining some pretty crazy ideas, but our willingness to try and find a way to “yes” tempered with good risk management has made all the difference.

Janet Sheiner, VP, Risk Management & Real Estate, AMN Healthcare Services Inc.

R&I: What was the best location and year for the RIMS conference and why?

San Diego, of course!  America’s Finest City has the infrastructure, Convention Center, hotels, airport and public transportation — plus you can’t beat our great weather! The restaurant scene is great, not to mention those beautiful coastal views.

R&I: What’s been the biggest change in the risk management and insurance industry since you’ve been in it?

The emergence of risk management as a distinct profession, with four-year degree programs and specific academic curriculum. Now I have people on my team who say their goal is to be a risk manager. I said before that risk management picks you, but we’re getting to a point where people pick it.

R&I: What emerging commercial risk most concerns you?


The commercial insurance market’s ability to innovate to meet customer demand. Businesses need to innovate to stay relevant, and the commercial market needs to innovate with us.  Carriers have to be willing to take on more risk and potentially take a loss to meet the unique and evolving risks companies are facing.

R&I: Of which insurance carrier do you have the highest opinion?

Beazley. They have been an outstanding partner to AMN. They are responsive, flexible and reasonable.  They have evolved with us. They have an appreciation for risk management practices we’ve organically woven into our business, and by extension, this makes them more comfortable with taking on new risks with us.

R&I: Are you optimistic or pessimistic about the U.S. health care industry and why?

I am very optimistic about the health care industry. We have an aging population with burgeoning health care needs, coupled with a decreasing supply of health care providers — that means we have to get smarter about how we manage health care. There’s a lot of opportunity for thought leaders to fill that gap.

R&I: Who is your mentor and why?

Professionally, AMN Healthcare General Counsel, Denise Jackson, has enabled me to do the best work I’ve ever done, and better than I thought I could do.  Personally, my husband Andrew, a second-grade teacher, who has a way of putting things into a human perspective.

R&I: What have you accomplished that you are proudest of?

In my early 20s, I set a goal for the “corner office.” I achieved that when I became vice president.  I received a ‘Values in Practice’ award for trust at AMN. The nomination came from team members I work with every day, and I was incredibly humbled and honored.

R&I: What is your favorite book or movie?

The noir genre, so anything by Raymond Chandler in books. For movies,  “Double Indemnity,” the 1944 Billy Wilder classic, with insurance at the heart of it!

R&I: What is your favorite drink?


Clean water. Check out Water.org for how to help people enjoy clean, safe water.

R&I: What’s the best restaurant at which you’ve eaten?

Liqun Roast Duck Restaurant in Beijing.

R&I: What is the most unusual/interesting place you have ever visited?

China. See favorite restaurant above. This restaurant had been open for 100 years in that location. It didn’t exactly have an “A” rating, and it was probably not a place most risk managers would go to.

R&I: What is the riskiest activity you ever engaged in?

Eating that duck at Liqun!

R&I: If the world has a modern hero, who is it and why?

Dr. Seuss who, in response to a 1954 report in Life magazine, worked to reduce illiteracy among school children by making children’s books more interesting. His work continues to educate and entertain children worldwide.

R&I: What do your friends and family think you do?

They’re not really sure!

Katie Dwyer is an associate editor at Risk & Insurance®. She can be reached at [email protected]