When investing in a new solution, the estimated return is key to making a decision. Insurers need to know the bottom line costs in order to allocate and prepare for the company’s transition.
WaterStreet Company has developed a simple and easy to use ROI Calculator for measuring the estimated cost savings of switching to WaterStreet Company solutions.
How to Measure ROI of PAS?
Your main consideration when measuring the ROI of a new PAS solution is how much is your current PAS costing your company and how does this compare to the new solution?
Our calculator walks you through the following fields:
- Annual Financial Information
- Salaries, Wages, Taxes & Benefits
- Vendor Related Expenses
- Business Model
Many factors come into play, such as if your company has developed an in-house solution and is seeking a Software as a Service (SaaS) model for the first time. Your annual IT expenses are likely the highest priority to decrease.
Services related to mailing, customer service and commission processing should be individually considered as a total annual cost in order to compare against a new service. You may have vendors for managing much of these back office tasks, which could be handled more efficiently by your PAS provider.
When completing the ROI calculator, you’ll find WaterStreet Company’s results to compare against your current costs. If you have any questions about your savings calculation, reach out to us today to discuss further.
Purchasing and implementing a new PAS solution is a big step for all insurers. WaterStreet Company is here to guide you through the questions and answers while comparing your current solution to a cloud-based, core Policy Administration System.
Ready to Take Action?
Reach out to WaterStreet Company today to request a consultation and demo of our solutions.