The data may tell a different story once 2009's numbers are analyzed, but insurance deal activity was steady through the end of 2008 across virtually every sector, according to new reports, Insurance Software Deal Trends 2009: Life/Health and Property/Casualty Editions, from Celent, a Boston-based financial research and consulting firm.
Celent collected data on 1,315 deals between insurance carriers and software vendors occurring in 2007 and 2008. Of this total, 63% of the deals involved property/casualty insurers versus 13% for health carriers and 24% for life/annuity carriers. The financial crisis has insurers taking a hard look at budgets, so Celent believes a temporary slowdown in deals may emerge when the 2009 data is available.
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