For anyone who has ever owned a car, it's an inevitable question: Continue pouring money into the old jalopy, or cut your losses and buy a shiny new model complete with six-cylinder engine, alloy wheels and keyless entry?

Insurers face the same dilemma with their legacy systems: Continue spending between 55% to 75% of their IT budgets to maintain old infrastructure and applications, or pony-up the money to invest in new technology complete with rules engines, component-based design and Web-enablement?

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