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Build vs Buy — Insurance
Weigh SaaS subscriptions against a custom build for Insurance — see the multi-year total cost of ownership and which path wins.
What this means for Insurance
- Underwriting still depends on PDF submissions, broker emails, and a thirty-year-old policy admin system that nobody wants to touch.
- Claims FNOL takes 3-7 days to triage; loss-adjustment expense is climbing while combined ratio creeps over 100.
- Fraud detection is rules-based and circa-2015; the SIU team chases obvious cases while sophisticated organized fraud slips through.
Where it pays to act
- AI-assisted underwriting that ingests broker submissions (PDF, email, schedules) and produces a first-pass risk view.
- Computer vision for claims — auto damage assessment, property damage from drone imagery, contents valuation.
Adjust the inputs to match your Insurance context.
Total cost of ownership
SaaS total (3yr)
₹19.9 L
Custom build total
₹21.8 L
Difference (cheaper to buy)
₹1.89 L
Breakeven
—
What this means
A hybrid path fits best.
For Insurance, the gap is ₹1.89 L over 3 years — close enough that a hybrid approach (buy core, build differentiating layers) often wins.
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Build vs buy — summary
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