Build vs. Buy: The Strategic Framework Life Carriers Need for Modernization Decisions

Every life carrier pursuing modernization faces the same pivotal question: Should we build this capability internally, or partner with a specialized provider?

It's a question with no universal answer. But one thing is certain: the decision requires more than a simple cost comparison. It demands a clear-eyed assessment of risk, opportunity cost, and long-term sustainability.

The modernization landscape: what we're seeing

Across the industry, carriers are grappling with complex considerations:

• Timeline pressures: Market windows are shrinking. Speed to market increasingly determines competitive advantage.
• Resource allocation: With tech investment in life insurance on the rise, the question isn't just budget, it's where to direct limited internal expertise.
• Maintenance realities: The true cost of ownership extends far beyond initial development. Ongoing updates, compliance adaptation, and technical debt accumulation can surprise even experienced teams.
• Talent constraints: Finding and retaining the right talent to expertly drive and maintain these innovations is challenging, and getting harder every year. 

A framework for decision-making

The most successful modernization strategies follow a clear principle: Build to support your core competencies. Consider partnering for everything else. Beyond that north star, here are other factors carriers should weigh:

⚡ Time-to-value dynamics — How quickly can you capture market opportunity with each approach?

🔄 Innovation velocity — Will your solution evolve as quickly as the market, regulatory environment, and customer expectations?

✨ Shared intelligence — Could you benefit from insights derived from broader industry patterns?

🛡️ Compliance complexity — How will you maintain expertise across insurance regulations, payment standards, security protocols, and data governance?

⚙️ Technical debt management — What's your strategy for versions, upgrades, and backward compatibility over time?

Making the capital-efficient, forward-looking choice

The build vs. buy decision isn't about choosing the "easier" path. It's about understanding where your organization should concentrate its resources to maximize strategic advantage.

Our new white paper walks through a comprehensive framework for evaluating your options. Inside, you'll find:

• Common patterns that derail internal builds 
• A methodology for identifying true core competencies versus commodity capabilities
• Real-world timelines comparing build and buy approaches
• The compounding advantages of shared innovation models
• Case studies showing how leading carriers have accelerated their modernization

Whether you ultimately choose to build, buy, or pursue a hybrid approach, making an informed decision requires understanding the full landscape.

🔍 [Download the white paper: Build vs. Buy: How Life Carriers Can Modernize Faster, Smarter, and With Less Risk]