Individual Life Insurers Differentiating Through Product Innovation, Speed to Market

Keys to revenue growth include improved product modeling and management capabilities: Novarica

Boston, MA (Apr. 3, 2018) – In the hypercompetitive individual life insurance market, product innovation and speed to market are key to growing market share. Carriers are seeking to differentiate themselves through investments in analytics, core systems, and marketing- and service-related technologies. In a new report, Business and Technology Trends: Individual Life Insurance , research and advisory firm Novarica provides an overview of individual life carriers’ business and technology issues, data about the marketplace, and over 50 examples of recent technology investments by individual life carriers.

“Self-service capabilities for producers and-to a lesser extent-customers are increasing in importance,” said Rob McIsaac, Senior Vice President of Research and Consulting, and co-author of Novarica’s new report. “Carriers seek more modern systems that can better support rapid product development as well as pricing and product changes. Modern systems are also key to attracting and retaining top producer talent, as well as key in reducing carrier dependence on high-cost vendor resources for developing systems maintenance and enhancements.”

Access The Full Report

The full report is available online from Novarica. A preview is available.

About Novarica

Novarica helps more than 100 insurers make better decisions about technology projects and strategy through retained advisory services, published research, and strategy consulting. Its knowledge base covers trends, benchmarks, best practices, case studies, and vendor solutions. Leveraging the expertise of its senior team and more than 300 CIO Research Council members, Novarica provides clients with the ability to make faster, better, more informed decisions. Its consulting services focus on vendor selection, custom benchmarking, project checkpoints, and IT strategy. For more information, visit

SOURCE: Novarica

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