Today, insurers that are thinking about replacing their core systems have several strong technology options to consider. Core projects typically involve big investments and do not come along often. It’s important to understand what technology approach will best deliver the business capabilities you need to meet your objectives. Central to that goal is finding solutions that align to your strengths. For some insurers, this will mean pursuing a best-of-breed approach. For others, an enterprise suite might better serve their needs.
Best-of-Breed Approach
The best-of-breed approach—selecting the best solution for each department or for each core function—has been all the buzz since the early 2000s. For a period of time, best-of-breed was really the only option for moving toward a modern architecture with modern technologies, since many of the older enterprise solutions often consisted of legacy technologies.
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