Has the build vs. buy question really changed that much? About 10 years ago, I penned an article on how to derive a decision between build vs. buy (or blend) in insurance core systems. At the time, the focus was primarily on P&C claims solutions since only a few technology providers had anything robust enough from the buy solution side that could compare with building a solution. In most cases, a blend solution became more of a reality with insurers buying solutions that covered some of the necessary requirements, but then had to keep a legacy component or build something to produce the full solution they required. Fast forward 10 years and the market for comprehensive core systems has grown
Insurance carriers are coming to understand the value blockchain brings to the enterprise. Blockchain is a game changer for the insurance industry. The underlying technology used for bitcoin, blockchain is a distributed, immutable digital ledger that records transaction history in the form of blocks and has a timestamp linked to previous or subsequent blocks. Transactions are digitally signed ensuring integrity, validity, and authenticity. The transaction/block is then distributed across a network of parties who provide consensus about these transactions. This distributed consensus model allows blockchain to run as a distributed ledger without the need for a central, unifying authority valid
