"Depending on the line of business and focus area, there are probably 15 to 20 [core solutions] vendors that are really competitive for the opportunities that come up. Among those competitive vendors, a lot of them are comparable in terms of their capabilities when it comes to configurability, first class architecture, and user interface.
There are maybe a top five to seven that we see consistently chosen and getting the lion's share of new deals, but it really depends on the individual buyer. There are a lot of [vendors] that may not be competitive for a broad range of deals but are absolutely the right choice for an individual deal.
We try to be skeptical for any abstract rating criteria that provide an absolute list of the best vendors in the space. It really depends on what the individual situation is. A vendor that may not make anyone's top 10 lists may be the best for any individual choice.
There definitely has been a serious improvement in the quality of available solutions, certainly on the P&C side over the last five years. We saw a generation of solutions really mature in the late 90s and the early part of the last decade. The generation that has come of age over the last three to five years definitely has tremendous advantages over that previous generation."
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.