For insurance carriers, adapting to market demands means continuously refining products.
The Challenge: Product Changes in a Legacy System
Whether it’s introducing new underwriting tiers, adjusting premium rates, or updating policy language, these changes are essential for competitiveness and profitability. However, for insurers relying on inflexible legacy homegrown or vendor systems, these modifications are an operational nightmare, launching them into an endless cycle of delays, costs, and lost opportunities.
The Death Spiral of Legacy Systems
Every policy change in a legacy on-premises or homegrown system follows the same frustrating trajectory:
- Define Requirement – Write a detailed request outlining the necessary changes.
- Submit Change Request – Relay the request to the vendor or log a ticket in their system.
- Wait for Vendor Response – Weeks (or months) pass before the vendor even acknowledges the request.
- Receive Initial Cost Estimate – The vendor provides a costly estimate—by now, deadlines have been missed, and money is already lost.
- Meet with Vendor – More meetings to refine specifications and clarify scope.
- Vendor Implements Change – Implementation begins, but errors arise due to misinterpretations.
- Correct and Fix Change – Additional months are spent correcting the issue.
- Manually Address Policy Errors – Months later, errors are discovered in live policies, requiring costly manual intervention.
- Complete Change Request – Nearly a year later, the change is fully implemented—while new required changes continue to pile up.
- Repeat Cycle for Next Change – The process starts over, draining resources and delaying strategic initiatives.
This process is a vortex of inefficiency—a tornado of lost time, wasted money, and missed opportunities. Each change feeds into the spiral, compounding delays and inflating costs.
The Tech Stack Difference: Legacy vs. BriteCore
A key reason legacy systems create this inefficiency is their underlying technology stack. Traditional homegrown or legacy systems require modifications to the source code for even minor product or rule changes. These changes necessitate vendor involvement or a vendor-trained specialist, adding layers of complexity, cost, and time delays. Conversely, BriteCore is built with a modern, cloud-native architecture that enables insurers to make product modifications through simple configuration changes—without altering the source code or waiting for vendor intervention. This fundamental difference allows insurers to respond to market conditions in real-time, staying ahead of competitors without the burden of costly and time-consuming system changes.
The BriteCore Advantage: Immediate, Agile, and Efficient
BriteCore revolutionizes policy administration by providing insurers with the agility they need to make critical product changes in minutes rather than months. With BriteCore, insurers can:
✅ Add new mandatory exclusions across all policies of a certain type, effective immediately or on a set date.
✅ Modify policy language dynamically based on coverage details and risk attributes.
✅ Adjust deductible options for new business and renewals with ease.
✅ Apply premium rate updates across multiple product offerings in real-time.
✅ Introduce new underwriting tiers that unlock competitive pricing and higher coverage limits.
✅ Refine loss surcharge programs seamlessly without disrupting existing policies.
✅ Offer endorsement bundles and optional coverages with intuitive configuration tools.
The Result: A Future-Ready Insurance Platform
By eliminating vendor dependencies and reducing operational friction, BriteCore empowers insurers to focus on innovation rather than struggling with outdated processes. The result? Greater efficiency, reduced costs, and the ability to capitalize on market opportunities—without the burden of a legacy system dragging them down.
With BriteCore, insurers no longer spiral into inefficiency. Instead, they gain control, agility, and a future-proof platform designed to keep them ahead of the curve.
