Celent: Life Software Deal Volume Rises

By staff Writer

May 24, 2010 at 08:00 PM

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Software vendors announced 381 document and content management deals with insurers in 2009, up 6.8% from the 2008 total.

Celent, Boston, unit of Oliver Wyman Inc., has reported that finding in an analysis of 910 insurance software deals announced in 2008 and 1,095 deals announced in 2009.

Document systems triggered the most announcements, but the popularity of infrastructure and financial system deals showed the strongest growth. The number of infrastructure/financial software deals announced increased 92%, to 307.

Although the number of announced deals has grown, insurers seem to be sticking mainly with software vendors with whom they already have an existing relationship, Celent analysts say.

Only 32% of the deals announced in 2009 involved new relationships, down from 45% in 2008, the analysts say.

Earlier coverage of Celent insurance software market performance is available here.

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