NU Online News Service, Nov. 28, 3:23 p.m. EST
Insurers can expect competition to remain intense for policy-administration systems without a major vendor to choose from in the near future, says Celent, a major consulting service.
In a 20 page report, "Deal Trends in Property/Casualty Policy Administration Solutions: North American Edition 2010," Celent says insurers are served by 52 vendors offering 55 policy-administration system solutions, making it a highly competitive marketplace.
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