If, like me, you are tired of reading (or in my case writing) articles on core systems replacement, you may have to rethink your attitude about what is going on in the insurance industry, particularly with policy administration systems.
In an interview with Deb Smallwood, founder of Strategy Meets Action, she made some interesting points on the core systems market and what insurers are doing with their legacy systems.
First off, Smallwood points out there are thousands of property & casualty insurance companies in this country, but the number of core system software deals annually is in the 100-plus range. At that pace, it will take over a decade to replace all the old systems in use.
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