The majority of insurance software sales in Latin America consist of core systems sold to new customers and smaller insurers, according to “Latin American Insurance Software Deal Trends 2013, Life/Annuity/Health and Property/Casualty Editions,” from Celent, an international financial research and consulting firm.

Celent analyzed 88 insurance software sales that occurred between Q1 2011 and Q4 2012; 30 sales involved life insurers, 16 involved health insurers and 42 involved P&C insurers.

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