Insurance companies are under growing pressure to deliver faster product launches, greater personalization, and seamless customer experiences across every channel.
In a market defined by rapid change, legacy policy administration systems often slow innovation rather than support it. Launching a new insurance product can take six to twelve months, while major changes may require several additional months. These delays limit competitiveness and prevent insurers from responding quickly to regulatory shifts and evolving customer expectations.
This whitepaper from msg explores how insurers can modernize policy administration systems without the cost and risk of full replacement. It focuses on the role of an AI-powered Product Configuration Engine in accelerating product development, improving flexibility, and enabling hyperpersonalization.
The paper outlines why modernization represents a balanced middle path between building new systems from scratch and buying rigid off-the-shelf platforms.
You will learn how:
- Legacy policy administration systems slow product launches and innovation
- msg explains the build, buy, or modernize decision facing insurance leaders
- Modernization preserves existing investments while improving agility
- A Product Configuration Engine centralizes product rules and pricing logic
- AI accelerates product migration and configuration from legacy systems
- Centralized rules reduce errors, improve compliance, and enhance traceability
- Insurers reduce product launch timelines from months to weeks
The whitepaper includes a real-world use case involving a Property and Casualty insurer operating on a legacy mainframe-based system. By integrating msg Product Machine as a Product Configuration Engine, the insurer modernized pricing, launched new microinsurance products, and reduced product launch time from ten months to just ten weeks.
The paper also explains how AI capabilities embedded in the Product Configuration Engine extract product knowledge from existing documentation, automate pricing logic migration, and assist business users during configuration. This approach improves speed while reducing dependency on IT teams.
In addition, the report highlights key return on investment drivers, including lower operational costs, faster time to market, improved scalability through cloud technologies, and reduced compliance and obsolescence risk.
This whitepaper is designed for insurance CIOs, digital transformation leaders, product managers, and enterprise architects seeking a practical modernization strategy that balances speed, flexibility, and long-term sustainability.
Download the whitepaper from msg to learn how AI-powered product configuration can modernize policy administration systems and help insurers compete in a fast-moving market.

