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Insurance Technology Vendor Mergers and Acquisitions: The Next Legacy System Nightmare?

Published by: TowerGroup

Published: Dec. 24, 2007 - 8 Pages


Table of Contents


Report Coverage

Background

Exhibit 1 Sample Insurance Software Vendor Acquisitions (2006-07)

Forces Driving Vendor M&A Activity

Carriers' Response to M&A Activity

Vendors' Responsibilities

Exhibit 2 Estimated Number of US Property and Casualty Insurance Carriers (1970-2006)

Summary

Abstract

Over the last several years, replacing legacy systems has been a leading area for development and expenditure at US insurance companies. Carriers have put financial resources into finding and installing replacements for aged, inflexible systems. Mergers and acquisitions (M&As) of insurance vendors have been on the rise since 2004, and there is no sign that this trend will slow down any time soon. This TowerGroup ViewPoint looks at whether the new, blended suites of technology solutions instantly cause recent installations to become legacy systems, dragging insurers into perilous circumstances. It also explores the issues and recommends solutions for both carriers and vendors.

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