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Aite-Novarica published the latest edition of their Property/Casualty Policy Administration Systems Report in February 2023, including Origami Risk in its Contender category. This designation is used for vendors who demonstrate “substantial customer experience and momentum.”  

The Aite-Novarica report helps insurers and others who seek information about the policy administration system landscape, its players, and their key features and benefits. It also highlights PAS market trends. This year’s report included 42 standalone core policy admin solutions.  

Among the many data points gathered in this report are ones related to vendor size and growth. Origami is one of only five solution providers to have onboarded more than 10 new customers in the last 12 months.  

One of the trends highlighted is the insurance industry’s accelerating adoption of cloud technology. Once regarded with trepidation, cloud platforms are now preferred – and attention needs to shift from whether or not to move to the cloud, to what type of cloud technology to use.  

Cloud multitenancy, although a new concept to some, is seen as the next big thing in insurance core systems, according to the report: “Aite-Novarica Group expects that most vendors will continue to support single-tenant deployment in the short term. However, multitenancy in core systems will become the norm over time. … Eventually, customers will find themselves running on fully multitenant installations.”  

As the only true multi-tenant SaaS core system provider in the market, Origami Risk is excited to demonstrate the advantages and possibilities inherent to this cutting-edge technology. Among these benefits are:  

  • Reduced demand on internal IT resources 
  • More frequent system enhancements 
  • More efficient use of cloud technology 
  • Lower total cost of ownership 
  • Improved scalability 
For more information, download an excerpt of the Aite-Novarica report or reach out to Origami for a conversation or demo.