Search
 

The Suite Life

Once upon a time, the toughest technology decision an insurance carrier had to make was build vs. buy. As software maturedand IT resources dwindledthat decision became much easier. Today, though, the decision isnt just which new software solution to buy, but whether your strategy should be to purchase a best-of-breed...

By Robert Regis Hyle | Updated on May 31, 2013
Once upon a time, the toughest technology decision an insurance carrier had to make was build vs. buy. As software matured—and IT resources dwindled—that decision became much easier. Today, though, the decision isn’t just which new software solution to buy, but whether your strategy should be to purchase a best-of-breed solution or the increasingly popular software suite.

In observing the software market over a decade or so, Ram Sundaram, principal of X by 2, doesn’t see suite solutions being a trend just yet—at least not one “with a capital T”—but he detects solid movement in that direction.

“If you think about core systems 15 years ago, packaged solutions were not necessarily a trend,” he says. ‘Building solutions was the trend. In the last 10 years, certainly I would say [the market] is favoring package solutions, which definitely became a trend. Today, you hardly see anyone having the appetite to build.”

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.