Platform Solutions

Jan 27, 2023

Share Upcoming ISG Provider Lens report will evaluate providers of modern platforms helping insurers boost efficiency and compete in a changing industry Information Services Group , a leading global technology research and advisory firm, has launched a research study examining providers of insurance platform solutions that enable insurance companies to develop and deliver relevant, personalized products in an intensely competitive industry. “The right platform provider can give them a competitive edge through AI, automation and innovation tools.” The study results will be published in a comprehensive ISG Provider Lens™ report, called Insurance Platform Solutions, scheduled to be released in June. The report will cover companies offering modern platforms to both life and retirement and property and casualty insurance providers. Enterprise buyers will be able to use information from the report to evaluate their current vendor relationships, potential new engagements and available offerings, while ISG advisors use the information to recommend providers to the firm’s buy-side clients. Insurance companies are adopting advanced technology platforms to serve increasingly demanding customers while maintaining profit and growth. Legacy systems still hold many insurers back from achieving their innovation and cost-containment goals. The most modern insurance platforms are cloud-based, API-enabled web applications that allow insurers to quickly bring new products and services to market and provide seamless customer experiences across multiple channels. “Most insurance companies are now at some stage of digital transformation,” said Jan Erik Aase , partner and global leader, ISG Provider Lens Research. “The right platform provider can give them a competitive edge through AI, automation and innovation tools.” ISG has distributed surveys to more than 70 insurance platform solution providers. Working in collaboration with ISG’s global advisors, the research team will produce two quadrants representing the insurance platform solutions the typical insurance enterprise is buying, based on ISG’s experience working with its clients. The two quadrants are: Life and Retirement Insurance Platform Solutions, evaluating providers of platforms that enable the development and provision of life insurance, annuities, supplemental health insurance, retirement plans and related offerings. Property and Casualty Insurance Platform Solutions, assessing providers of platforms for coverage of personal and commercial loss and liability, including auto, home, marine and specialty insurance policies and workers’ compensation plans. Geographically focused reports from the study will cover the global insurance platforms market and examine platform solutions available in the U.S. and Europe. ISG analysts Ashish Jhajharia and Sandhya Hari Navage will serve as authors of the report.