Technology and consulting firm DB Results has launched its newly developed cloud-native Policy Administration System (PAS) software.  

DB Results says the technology provides a “low-code and low-complexity” solution towards legacy system challenges by improving efficiencies and speed of delivery at a decreased cost.   

DB Results Chief Delivery Officer and Financial Services Sector lead Matt Nidd says the technology aims to deliver on the “industry demand for disruption and innovation”, with the product implementable within three months and offering a targeted Return on Investment within two years.  

“Policy Administration Systems are the backbone of the insurance sector, and for too long insurers have had to rely on legacy systems that are expensive to operate and maintain, slow at responding to industry change, and made it difficult to ensure robust compliance and data security,” Mr Nidd said.  

“In an industry experiencing rising costs, shrinking margins, and growing regulatory oversight, as well as increased security risks, our solution is a game-changer that will drive the industry into a new stage of growth.”  

Mr Nidd says the software provides a customer-focused ecosystem for insurers across various sectors, including group, life, and general.  

Resolution Life has endorsed the product, saying it delivered “substantial cost and time efficient benefits”.