Leveraging SaaS to Tackle the Legacy Challenge
The Case of Legal & General Netherlands
SaaS has gained interest in the insurance world recently. A growing number of insurance companies are considering the SaaS model for core insurance systems.
In the report, Leveraging SaaS to Tackle the Legacy Challenge: The Case of Legal & General Netherlands, Celent details Legal & General Netherlands’ experience in implementing a new policy administration system (PAS) using a SaaS model offered by LeanApps, a Dutch life and pension PAS vendor.
“Customization challenges remain despite SaaS, and going from an internal development approach to a package based on a SaaS model represented a substantial cultural change for Legal & General,” says Nicolas Michellod, Senior Analyst with Celent’s Insurance Group and coauthor of the report.
“SaaS for core insurance offers valuable benefits in the long run, especially in terms of the commercial model, maintaining application currency and supporting efficiency,” addsJamie Macgregor, Senior Analyst with Celent’s Insurance Group and coauthor of the report.
This report provides reasons to consider investing in a new PAS as well as the elements taken into consideration by Legal & General when it opted to purchase—rather than develop—its system. The report looks at the SaaS model approach offered by LeanApps as well as Legal & General’s perceived benefits and concerns about SaaS. Finally, it examines Legal & General’s lessons learned about SaaS from the implementation project for core insurance systems.
This 32-page report contains one figure and eight tables.