In software buys that have risen fairly steadily over the past eight quarters, core systems appear to be carriers' priority, according to a report released by Celent Communications Inc., Boston.Celent's goal in conducting its research, "Insurance Software Deal Trends 2003-2004," was to find out what types of insurers (by size and lines of business) purchased application and infrastructure packaged software during that time period. The study also looked at the business processes supported by these deals, as well as some of the broad trends in terms of deal activity.
Celent's report, released in April, reflects data collected from 974 insurance software deals that occurred in 2003 and 2004. Of these deals, 475 involved life/health insurers (16% health and 33% life/annuity carriers), while 499 (52%) involved property/casualty insurers.
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