The Finys Mailbag
It’s been a while since we opened the mailbag. But given the volume of cards and letters we get, we’re definitely overdue. So, here’s a selection of our recent fan mail:
A vendor recently told me I could have a complete policy administration suite implemented in 20 minutes. Is that true?
In a Hurry
We do believe that’s possible. But not on this planet. Should such a thing become available, we suggest you review The Good, Fast and Cheap Rule before making any commitments:
Everybody wants everything good, fast and cheap. But you can only have it two ways:
- Good and fast, but it won’t be cheap
- Good and cheap, but it won’t be fast
- Fast and cheap, but it won’t be good.
Then there was this:
My company’s spent $20 million over the past three years for a policy administration system. So far, the only line we’re able to write on the system is igloo coverage in Lapland. Should we consider switching vendors and cut our losses?
We’re sorry to answer your question with questions, but we have two:
- How much money do you have?
- How much time do you have?
If you read our reply to Hurry, you know we can’t implement a new system in 20 minutes. But we can definitely help.
We’re an insurance company that’s been in business since 1820. The policy administration system we use is Old Steamy, shown in the photo to the right. It still works pretty good; although, it gets harder and harder to find people to maintain it. Is it too soon to consider replacing it?
We hate to be the bearer of bad news. But we checked the market. The only vendor that promised to provide replacement parts for Old Steamy also promises to implement a new policy administration suite in 20 minutes.
Call us skeptical.
Until next time, please keep the cards and letters coming. And please let us know how we can help.
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