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Much like every other part of the implementation process, the key to success is having a plan and transparent communication, internally and with your vendor, throughout the project. With these three considerations top of mind, your insurance program can begin to de-risk and effectively plan for your next core system implementation.

The next time you’re looking to implement a new core system, be ready to rely on your new software vendor’s change management expertise. Their business is centered around successfully executing these types of projects and their practical wisdom will make a difference in how your teams respond to change

As the narrative for change takes shape, it’s important to amplify the voices sharing it. One of the easiest ways to do this is to have more voices throughout the business who are aligned and driving the message of innovation.

At its core, a new piece of technology is helping displace the current process around “what” is done within the business. Maybe it was the need for a streamlined portal experience for your insureds/agents, a modern claims management solution that enables your adjusters to get employees back to work faster, or total accessibility to your programs data for comprehensive reporting, that led your organization to evaluate a new solution.

Innovation comes at a cost. As business leaders who are enacting change within their organization, we often focus solely on the quantifiable aspects of innovation. How much capital is required? How long will it take? What is the internal rate of return (IRR) and net present value (NPV) of the cash invested? Financially driven metrics like these are crucial to making informed business decisions, but they all hinge upon a major assumption – the successful facilitation of change.