er can compare the options provided by multiple services and contextually present the best options, using what it already knows about an insured as data points like home and work address.
In order to stay competitive, P&C carriers must consider diversifying their product lines. For most companies, product lines have remained stagnant, largely driven by the inability to maintain various systems and data sources necessary to pursue a multi-line strategy, plus the technical infrastructure necessary to support it. As products become more complex and diverse, the industry has struggled with the strategy of enabling or updating technology to facilitate it, and is challenged to find talented chief information officers and chief technology officers with the background to support it.
Things has become a stark reality.
Megan Ford is the vice president of marketing for VIP Software. She can be reached at mford@vipsoftware.com.