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Best-Of-Breed Strategy Boosts IT Success

For property and casualty insurers looking to replace or renew core information technology systems in this challenging economy, best-of-breed solutions offer a compelling alternative to one-size-fits-all suites.

By Keith Inouye, Gwen Lannaman | Updated on May 23, 2010

For property and casualty insurers looking to replace or renew core information technology systems in this challenging economy, best-of-breed solutions offer a compelling alternative to one-size-fits-all suites.

According to conventional wisdom, an end-to-end solution from a single vendor offering a prepackaged suite of products is more economical and allows more seamless integration, especially for small to midsize insurers. However, this conventional wisdom may be holding your company back.

Consumers today are looking for companies that differentiate themselves on more than price alone. Can you offer faster, more efficient claims-handling than competitors? Can you tailor new products to emerging market segments quicker than the insurer down the block? Can your technology choices and implementation strategies help you stand out?

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