Ensuring Success in Core System Builds

| April 16, 2019

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Custom core system builds still happen surprisingly often. They fell out of fashion during the competitive vendor landscape of the early 2000s, but implementation challenges and improved carrier software development expertise are generating increased interest in the custom build. Buying is often a compelling option: insurers can thoroughly evaluate systems, forecast costs, and focus on customization rather than system design. What’s more, building systems is what vendors do for a living, so they’re well-versed in engineering and implementation best practices as well as software support. Custom insurer builds, by contrast, tend to be complex and have a high chance of disappointment. That being said, there are some legitimate reasons to consider a build. Some lines of business are so unique that there may be no market alternative, and carriers may be able to gain an advantage by building rather than buying. Insurers can also maintain greater control and avoid vendor lock-in.

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Reinsurance Group of America

RGA Reinsurance Company is a subsidiary of Reinsurance Group of America, Incorporated (NYSE: RGA), which is an international global life and health reinsurance company with approximately $3.3 trillion of life reinsurance in force and assets of $60.5 billion, as of December 31, 2017.

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Article | April 17, 2020

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Spotlight

Reinsurance Group of America

RGA Reinsurance Company is a subsidiary of Reinsurance Group of America, Incorporated (NYSE: RGA), which is an international global life and health reinsurance company with approximately $3.3 trillion of life reinsurance in force and assets of $60.5 billion, as of December 31, 2017.

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