Last week, Bill Kenealy
Recent
• Should we grow in new markets organically or acquire a local carrier?
• What regional markets are adjacent to markets we’re already in?
• What are the pitfalls when it comes to expanding into new markets?
• Do I need to create local variations for my product and sales-enabling content?
• What about local and national laws, regulations and business structures —how will they affect my product or and how it’s distributed?
As the
These core app vendors are clearly targeting the expansion plans of both their in-market carrier clients looking to expand into new geographic markets, as well as new carrier entrants moving into the vendor’s home market. These vendors are touting features such as multi-language and multi-currency support, as well as capabilities that allow a business user to “version” an existing insurance product for the new market.
This changing insurance tech vendor landscape means more choices that carrier IT organizations can consider for policy admin or even investment management, and capabilities that can more readily support overseas expansion.