A highly competitive market for specialty insurers has driven major investments in big data analytics, agent portals and legacy systems replacement, new Novarica research finds.
In its study, “Business and Technology Trends: Specialty Lines”, the tech-research firm analyzes 57 technology investments recently made by specialty insurers to gauge trends in the industry. Novarica found legacy systems stand as the biggest roadblock in selling policies for mid-size and large specialty carriers in loom of increased competition from banks and foreign corporations.
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