Application and Digital Services (ADS) in Life and Annuity Insurance – PEAK Matrix® Assessment 2023

Top Application and Digital Services (ADS) in Life and Annuity (L&A) Insurance Providers

Life and Annuities (L&A) insurers are partnering with providers to improve their digital transformation journeys and meet customer expectations by enabling accelerated underwriting, improved sales and distribution, and faster new products’ launch. Macro challenges such as rising inflation and demographic & life expectancy changes are compelling carriers to modernize their legacy technology stack and future-proof their businesses to achieve their cost reduction mandates.

In recent years, insurance carriers have been leveraging emerging technologies such as RPA, AI/ML, and IoT to achieve business-oriented outcomes and improve customer and agent experiences.

In this report, we assess the capabilities of 21 Application and Digital Services (ADS) providers and feature them on Everest Group’s ADS in L&A Insurance PEAK Matrix®. The study will enable buyers to choose the best-fit provider based on their sourcing considerations, while providers will be able to benchmark their performance against each other.

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What is in this PEAK Matrix® Report

In this report, we:

  • Assess 21 ADS providers in the L&A insurance market on Everest Group’s Products PEAK Matrix® evaluation framework
  • List the characteristics of Leaders, Major Contenders, and Aspirants in the L&A insurance ADS market
  • Examine the ADS providers’ offerings, along with their vision, product capabilities, adoption characteristics across geographies, case studies, partnerships, and investments

Scope:

  • Industry: insurance
  • Geography: global

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What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

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