New SMA research: More insurers, including InsurTech startups, are buying new core systems
Boston, MA (May 3, 2018) – Strategy Meets Action (SMA), a leading insurance strategic advisory firm, has just released a new research report: Core Systems Purchasing to Thrive in the Digital World: What’s Hot – And What’s Not. This research report analyzes P&C insurers’ core systems buying decisions in 2017, with the aim of illuminating insurers’ new priorities for their core environments and bigger changes still to come in the core systems marketplace.
Key research findings include the following:
- Increases in new core system acquisitions, with P&C core systems purchases up 13% in 2017
- Startup insurers and MGAs are actively buying new core systems from tech incumbents
- MGAs are ramping up commercial business capabilities
- New core systems are increasingly deployed in the cloud, with on-premise deployment at the lowest level in seven years.
“Digital insurers require capabilities from their core systems that completely support the full extent of digital interactions,” said Karen Furtado, SMA Partner and report author. “Insurers planning for the business of the future need future-ready core systems that are designed to support innovation and flexibility in delivering new products and services.”
Insurers, IT solution providers, and media that are interested in learning more should contact Karen Furtado at kfurtado@strategymeetsaction.
Exclusively serving the insurance industry, Strategy Meets Action (SMA) is an advisory services firm offering retainers, research, consulting, events, and innovation offerings to both insurance companies and solution providers. Learn more about SMA at www.strategymeetsaction.com.
SOURCE: Strategy Meets Action (SMA)Tags: core systems, report, Strategy Meets Action (SMA)