The difference between specialty lines and standard lines is standard lines have higher volume and lower contract value with the inverse being true in specialty lines, according to Catherine Stagg-Macey, a senior analyst with Celent.
As an example, she continues, a specialty-lines insurer in the aviation market might have only 200 policies in force, but each of those is going to be very large, while a personal auto carrier could have five million policies in force.
(To read more about the technology issues facing specialty lines insurers, click this archived Tech Decisions article.)
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