Insurance Technology Vendors and P&C Carriers: Alignments and Disconnects

Where are leading vendors focusing their energies, and does that focus meet carriers’ needs?

Boston, MA (Aug. 8, 2013) – Now more than ever before, technology is impacting the insurance industry and forcing transformation. Vendors need to do a better job of aligning their solutions with P&C insurance carrier needs–as carriers attempt to balance multiple competing priorities, some insurance technology vendors are focused more on selling and describing what they already provide than on offering what the market really needs. Vendors must pay less lip service and more attention to delivering real innovation to their P&C insurance clients. But where do carrier needs and vendor solutions currently align, and where do they disconnect?

Expected impact of areas on business, products and services relative to meeting the needs of P&C insurance customers

Based on May and June 2013 Aite Group interviews with and surveys of 23 P&C industry vendors, this Impact Note by senior analyst Stephen Applebaum speaks to the types of solutions being offered to and sought by P&C insurers, discusses the relative priorities of insurers and vendors, and identifies major areas of opportunity for established players and recent entrants to the space.

The 18-page Impact Report, containing nine figures, is available from Aite Group.

About Aite Group

Aite Group is a leading independent research and advisory firm focused on business, technology and regulatory issues and their impact on the financial services industry.

Aite Group offers membership to its syndicated research, which includes unlimited access to its analysts. Aite Group also conducts custom consulting projects, including white papers, in-person strategy sessions and Webinars, competitive analysis, market entry strategy, vendor evaluations, qualitative and quantitative customer research.

Aite Group’s team of experts cover the banking, payment, wealth management, retail securities, institutional securities, health insurance, life insurance and P&C verticals.


Source: Aite Group