- Newslink Global Insurance Trends-The Week
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- Geneva Association publishes report headed " Ten Key Questions on Cyber Risk and Cyber Risk Insurance"
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- CII launches consultation to seek the views of insurance and personal finance professionals on its current Corporate Chartered proposition
- AAIS introduces openIDL(open Insurance Data Link) built on IBM Blockchain expired
- ACORD launches Adoption Toolkit to support the application of data standards for global reinsurance and large commercial risks expired
- Amazon considering entering UK insurance comparison market-GlobalData comments expired
- Zurich selects Guidewire Cyence Risk Analytics to leverage cyber risk knowledge and insight-to roll-out globally expired
- Aegon underlying earnings up and on target expired
- IAG reports financial year results expired
11th February 2018
Celent releases new report on Build versus Buy debate
Celent has released a new report titled "The New Build Vs. Buy Debate: Is This the Agony of the Core Insurance Package?" The report was written by Craig Beattie and Nicolas Michellod, both senior Analysts with Celent's Insurance practice.
It is still unclear whether most insurers will consider engineering their own insurance platforms going forward. However, they now have more arguments to consider this option.
With the growing demand for more open and integrable systems and the emergence of key technologies such as DevOps, APIs, and microservices, insurers see the opportunity to engineer their own insurance platform. In addition, there are opportunities to fragment the value chain and integrate Insurtech in crucial elements of their insurance suite. In this report, Celent describes what could be the future of core insurance systems under the influence of these new technologies and startups.
“With any build of software comes risk, and insurers are naturally risk-averse," says Michellod. “A low-risk build approach for an insurer would be to mix best-in-class core components for elements that are not differentiating for them, and identify capabilities where the insurer wishes to differentiate.”
MarshMac Trends(726 articles)