Carriers have continued to invest in core systems replacement throughout the recent economic downturn. While there has been less activity for life/health/annuity carriers than for their P&C counterparts, this is not entirely the result of the downturn.
It has long been the norm for P&C carriers to replace their core systems in greater numbers, since policies typically have a six or 12-month term. P&C carriers are able to roll these policies onto the new system as they renew. Life and annuity products, on the other hand, may stay on the books for decades.
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