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Is Dynamcis a fit for the Insurance industry?

I am rearchitecting the Travel Insurance IS Systems of a rather large corporation (not small or medium) which has grown fast enough to outpace its homegrown system which now shows groans under the weight. The envisioned IS has many buckets of supplemental functionality like CRM, BI, Content Management, e-Commerce etc, however the core business will be managed by an "insurance engine". This engine will deal with the main business entities like policy, client, claims, quote, premiums, reinsurance, underwriting, compensation, financial magnagement etc.

I am assessing various technologies (platforms, components, engines) to determine the best fit. One of the alternative is to use one of the Microsoft Dynamics suites as the BPM heart or "insurance engine". This thread provides a good comparison of the 4 Dynamics choices, but there is nothing informative about the insurance business anywhere about a fit on the whole world wide web.

The main points about the Insurance industry is there is no physical product (no inventory, no warehousing, no logistics) but policies may have a lot of resellers (brokers, white label sites, B2B partners). There are also heavy data integrity links (and reporting) between the entities (policy, client, claims, quote, premiums, reinsurance, underwriting, etc). A good Business Rules repository is important.

Right now NAV and AX look like the frontrunners in my mind, but I am not sure if either one or any of the Dynamics choices fit the bill for an Insurance solution. Could NAV and AX be customized to service a solution like the one I described or should I discount these options altogether as an unnatural fit or a forced marriage? If so, what platform would be best suited for this situation?

Thanks in advance for your insights.