There is so much paralysis at play inside a carrier weighing decisions about modernization. And why shouldn’t there be? It’s risky. Whether undertaking an ambitious in-house build or handing over your infrastructure to a tech provider, a lot of stakeholders are going to have reasonable concerns.
Bestow
For decades, the insurance software pendulum has swung between buy and build. It’s never been an easy decision, but at times it’s been clear there wasn’t a good solution available to buy (think about the late 1990s), or that an entire segment of the industry was buying packaged solutions (think CSC in the 1980s and 1990s, or Guidewire and Duck Creek for P&C carriers in the 2010s).
The insurance industry is at an inflection point. Regulatory shifts, advancing technology, and evolving consumer expectations are reshaping what it means to compete. For carriers, distributors, and advisors, the pressure is undeniable.
When a major carrier approached Bestow about transforming their final expense business, they expected efficiencies and a modest increase in policy sales.
