Gaining a strong foothold
Several new software houses have recently gained a foothold in the broking system market, but the dominance of established players is still decisive. Andrew Foxwell reports
With the likes of Misys and SSP controlling around two thirds of broker IT systems, it can make it a hard market to break into, and the relative success of newcomers like Acturis, established in 2002, and Insurecom, set up in 1999, are perhaps the exceptions that prove the rule.
Despite their success, Acturis and Insurecom control only around 11% of the broker market, which is just a fraction of SSP and Misys' reputed 19% and 41% respectively (depending on how you measure it). Incredibly, Misys
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