It's conference season again, and insurance CIOs and their staffs are spending much of the ACORD/LOMA and IASA conference meetings with current vendors and evaluating potential new ones.
The "buy vs. build" pendulum has swung to the "buy" side, where it has stayed for the past decade. The accelerated pace of change in technology means that few insurers have the capability to build, deploy, maintain and enhance systems that can keep pace with their evolving technology needs. At the same time, advances in systems configurability and agile deployment methodologies have reduced customization costs, total cost of ownership and project risk for many important solutions.
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