As technology changes the way insurance carriers do business, companies are forced to adapt to those changes. But the technology is not the only thing changing; so too is the way carriers go about purchasing integrated solutions—particularly those core solutions that are so vital—and expensive—to buy.
One issue insurers deal with is whether they have an IT staff to handle such a precarious implementation. If an IT staffer has worked only for your company in his or her career, it is unlikely that staffer knows the full range of the new systems. Most important, it's unlikely that person has ever been involved in a core system replacement.
Stephen Applebaum, senior analyst at Aite Group, doesn't believe a strictly internal well-established IT staff—what he calls a legacy team—can properly represent an insurer in the software marketplace. For that, he maintains insurers need a world view.
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