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Although the insurance industry has a long history of building its own technology solutions, the pendulum has been firmly paused on the “buy” side of the “buy vs. build” spectrum for the last few years across most core application areas.

Insurers are looking for proven solutions built by expert software development organizations that benefit from both the best practices created by serving a broad range of like customers as well as the support and R&D that external vendors can provide. Like the insurance carrier marketplace that it serves, the insurance technology vendor marketplace is large and diverse with more than 100 significant independent software vendors and portfolio players offering enterprise and stand-alone software products across multiple areas of insurance core systems.

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