Heres the Deal
Analysis of insurance software deals from 2001 to 2003 indicates vendor initiatives finally are picking up, but there are no dominant players in sight.
There are some major software vendors in the insurance technology field with which most insurance carriers are intimately familiar, but that doesnt mean the selection of vendor solutions is cut and dried among carriers and a few large solutions providers. In its analysis of more than 800 software deals made between 2001 and 2003, Celent Communications came to the conclusion there are no dominant vendors for all insurers. [Insurance] is such a large industry with such a diversity of product offerings that even though the large consolidated vendors are competing actively for deals with everyone else, insurers are very much focused on the right product and the right partner, says Matt Josefowicz, insurance industry analyst for Celent.
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