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| Thought Paper |
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The New Dynamics of Buy Vs. Build |
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| Abstract |
Insurance companies are under immense pressure to differentiate in an era marked by
consolidation and the emergence of new non-traditional competitors. In an effort to boost
their competitiveness, successful players in the insurance segment are aggressively using
information technology to streamline the introduction of new products and services and
reduce the operational cost of doing business.
However, the dilemma that enterprises face today is deciding whether to Build or Buy
systems. While both approaches have their own merits and challenges, in recent times,
the scale has slightly tilted towards the 'Build' approach due to highly productive new
development methodologies and mature project management techniques.
This Paper describes the merits of following a 'Build' approach against the traditional industry trend favoring 'Buy'.
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