Chad Hersh is executive vice president and leads the life and annuity business at Majesco. He is a frequent speaker at industry conferences, including events by IASA, ACORD, PCI, LOMA and LIMRA, as well as the CIO Insurance Summit. He has written articles for many industry publications and has been quoted by trade and national/international publications, including Best’s Review and ABC News.
Previously, Hersh was a managing director at insurance technology industry analyst firm Novarica, where he was the primary researcher and author of market-leading reports on insurance core systems. Hersh is a widely recognized expert on the topic and has led many vendor selection projects for U.S. and international insurers. Before Novarica, Hersh was with analyst firm Celent and AIG Domestic Life/American General, where he served as the e-business director.
He holds a BA in economics and an MS in accounting with an MIS concentration from Rice University, where he has also taught consulting and e-business.
Successfully implementing a core system — in any industry, but especially in insurance — is challenging. One of the most difficult aspects of implementation is simply knowing where the finish line is — while you’re standing at the starting line. Mapping out the course from the starting line to the finish line is impossible if […]
The group benefits market (including true group, voluntary benefits, and worksite) has experienced a great deal of change in the past few years, thanks to a variety of factors: A shift of responsibilities to the consumer (Affordable Care Act); a shift from defined benefit to defined contribution plans; an increase in voluntary benefits versus true […]
In my previous blog post, we looked at signs you might not be ready for a core systems transformation. In this post, we’ll look at some ideas for how to be better prepared for one. These ideas aren’t complicated, and, while a few are a bit contrarian, most are common sense. In no particular order, […]
I can just imagine the ad on Craigslist: “$750,000 – Legacy Policy Administration System, P&C, 30 years old. Runs great! It’s our daily driver!!!” You’ve been good to it (sort of). It’s been good to you (sort of). The idea of replacing it makes you a little nauseous. In fact, you have at least 30 […]
As insurers continue to replace core systems in record numbers, at some point one has to ask whether modern systems are in fact the norm rather than the exception. In short, the answer is “sort of.” On the one hand, the percentage of total systems that carriers have in place that have been replaced by […]