IT services providers fulfill demands for modernization, innovation, and rare skill sets: Novarica
Boston, MA (Mar. 12, 2019) – Insurers are investing in new business and underwriting technology to meet evolving customer needs and leverage new analytics capabilities, according to research and advisory firm, Novarica. The latest Novarica Market Navigator, Life/Health/Annuity New Business and Underwriting Systems, profiles 22 vendors offering solutions to North American insurers in this space.
“For carriers who are focused on addressing aging technology stacks, old platforms are frequently monolithic environments that support a variety of functions within a tightly integrated and inflexible platform,” said Rob McIsaac, Executive Vice President and lead author of Novarica’s new report. “This may have produced a series of historic advantages but now leaves these carriers with rigid environments that make it very difficult and expensive to deploy new products and capabilities which are key to future competitiveness.”
A preview of the brief is available online.
This report provides an overview of the available new business and underwriting systems and suites for US life/health/annuity insurers. The report contains profiles of each of 22 vendor solutions (both full and partial), summarizing the vendor organization, technology used, differentiators, client base, lines of business supported, deployment options, implementation approaches, upgrades/enhancements, and key functionality.
Vendors included: Accenture, Andesa Services, DXC, Ebix, EXL, FJA-US, Global IQX, Insurance Technologies, Intellect SEEC, iPipeline, Limelight Health, Mphasis Wyde, Munich Re, OneShield, Oracle, Pegasystems, Reinsurance Group of America, SAP, Sapiens, Swiss Re, Tata Consultancy Services, and Vitech Systems Group.
Click here for the table of contents or to access the report.
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 of 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 www.novarica.com.
Source: NovaricaTags: Accenture, Life & Annuity, Munich Re, Novarica, OneShield, Oracle, SAP, Sapiens, Swiss Re