P&C insurers are increasingly looking to adopt third-party core platforms to address the limitations of legacy core systems and drive front-to-back-office transformation to future-proof their IT estates. Guidewire has emerged as a preferred core platform for P&C insurers looking for a modern core to power superior front-office experiences. Additionally, Guidewire’s push toward Guidewire cloud, coupled with its continued investments to build supporting data and digital capabilities, is pushing P&C insurers to leverage the broader offerings portfolio and maximize value from existing investments in the core. IT service providers are responding by aligning their investments with Guidewire’s vision and gaining partner-recognized specializations across products and demand geographies. They are making significant investments to expand their Guidewire-certified talent pools, build accelerators/frameworks to address key concerns around on-budget and on-time implementations, and help insurers craft a cloud strategy built around Guidewire. In this report, we assess 24 Guidewire service providers featured on the Guidewire Services 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. Scope: Industry: insurance Geography: global The assessment is based on Everest Group’s annual RFI process for the calendar year 2021-22, interactions with leading Guidewire service providers, client reference checks, and an ongoing analysis of the Guidewire services market Contents In this report, we: Provide an overview of the Guidewire services market – size, growth, and drivers Assess 24 leading Guidewire service providers on Everest Group’s Services PEAK Matrix® evaluation framework List the characteristics of Leaders, Major Contenders, and Aspirants Present Everest Group’s take on the strengths and limitations of each provider Membership(s) Insurance Information Technology Sourcing and Vendor Management

A global pandemic, natural catastrophes, geopolitical risks, and macroeconomic risks, coupled with a recessionary market sentiment, have created an extremely uncertain environment for insurance enterprises. While Life and Annuity (L&A) insurers remain positive following the pandemic, inflation continues to be a looming threat for Property and Casualty (P&C) insurers globally. Insurers across the board are looking for ways in which they can navigate these overarching challenges – divesting business units to focus on core competencies and geographies, consolidating vendor portfolios, and investing in digital transformation initiatives. As insurers navigate through this period of uncertainty, they need to tap into the vast data pools they possess to unlock value and succeed. In this report, we estimate the economic value of data – the value that insurers globally can generate across growth and efficiency objectives by investing in data and analytics. Through data and analytics, insurers can achieve cost savings from increased operational efficiencies, reduce claims leakage and fraud expenses, and drive premium growth by unlocking higher sales efficiencies and rapid product innovation. Scope Domain: insurance IT services Industry: insurance Geography: global Contents In this report, we: Estimate the economic value of data – the value that insurers globally can generate across growth and efficiency objectives by investing in data and analytics Showcase the need for a platform-based operating model with a collapsed data supply chain that can enable insurers to transition into data-driven organizations List various services and technology providers across the data and analytics ecosystem that can help insurers to maximize the value from their data and analytics initiatives Provide estimates of the global insurance IT services outsourcing market, along with an analysis of the insurance IT services outsourcing market by line of business, region, and service sub-segment Membership (s) Insurance Information Technology Sourcing and Vendor Management

Digital transformation is a top priority for BFS and insurance enterprises to survive the impact of overarching geo-political and pandemic risks, emerging challenges from digital disruptors such as InsurTechs and FinTechs, the poor interest rate environment, and talent shortages accompanied by the Great Resignation. In fact, organizations are struggling to find and retain talent with skills that are important for future readiness. The better talent value proposition that BigTechs and digital disruptors offer is exacerbating this challenge for enterprises, including large global IT services organizations. In this report, we highlight the challenges that BFS and insurance enterprises face and present the Rubik’s Cube supplier segmentation approach – an approach to segment different types of service providers to build an optimal sourcing strategy. Scope Domain: BFS IT services, insurance IT services Industry: BFS and insurance Geography: global Contents In this report, we: Examine the key drivers and challenges for BFS and insurance enterprises’ digital transformation journeys Study the ongoing talent crisis and engagements with specialist service providers to navigate these challenges using the Rubik’s Cube supplier segmentation approach Profile 77 BFS and insurance specialist IT service providers headquartered across North America and Europe Membership(s) Banking Information Technology Insurance Information Technology Sourcing and Vendor Management

The insurance industry faces headwinds such as obsolete legacy systems, talent shortages, and resistance to change leading to a slower pace of transformation. In addition, consumer needs, habits, and expectations, which were evolving gradually before COVID-19, have radically shifted during the pandemic, spurred by the demand for compelling online experiences. To deal with these challenges, insurer preferences are shifting from building customized solutions to buying off-the-shelf products and rapidly adopting third-party core platforms, such as Duck Creek, to reduce latency, improve efficiency, drive product innovation, and build a modern core to power superior front-office experiences. Duck Creek has led the modernization story for the Property & Casualty (P&C) insurance industry by aggressively pushing its SaaS-based Duck Creek OnDemand (DCOD) offering, characterized by low-code configurability, ease of deployment, rapid time-to-market, and a wide partnership ecosystem, to enable digital transformation for carriers. IT service providers are investing heavily to enhance their capabilities across core Duck Creek products. They are also looking to expand beyond core modules and invest in training for Duck Creek OnDemand (DCOD) implementations and non-core modules such as insights, digital engagement, and distribution management modules. This report examines the Duck Creek services landscape and presents a detailed assessment of 13 leading providers featured on Everest Group’s Duck Creek Services PEAK Matrix® Assessment 2022. Scope Industry: insurance and financial services Geography: global Contents In this report, we provide: An assessment of 13 leading Duck Creek service providers based on Everest Group's proprietary Services PEAK Matrix® evaluation framework Detailed profiles of the providers containing client success stories, including the business challenges addressed, solutions delivered, and impact generated An overview of the service providers’ domain investments, key Intellectual Property (IP) / solutions, and key partnerships Everest Group’s perspective on the strengths and limitations of the 13 leading Duck Creek service providers Membership(s) Insurance Information Technology Sourcing and Vendor Management

The insurance industry faces headwinds such as obsolete legacy systems, talent shortages, and resistance to change. In addition, consumer needs, habits, and expectations, which were evolving gradually before COVID-19, have radically shifted during the pandemic, spurred by the demand for compelling online experiences. To deal with these challenges, insurer preferences are shifting from building customized solutions to buying off-the-shelf products and rapidly adopting third-party core platforms such as Duck Creek to reduce latency, improve efficiency, drive product innovation, and build a modern core to power superior front-office experiences. Duck Creek has led the modernization story for the Property & Casualty (P&C) insurance industry by aggressively pushing its SaaS-based Duck Creek OnDemand (DCOD) offering, characterized by low-code configurability, ease of deployment, rapid time-to-market, and a wide partnership ecosystem, to enable digital transformation for carriers. IT service providers are investing heavily to enhance their capabilities across core Duck Creek products. They are also looking to expand beyond core modules and invest in training for Duck Creek OnDemand (DCOD) implementations and non-core modules such as insights, digital engagement, and distribution management modules. This report examines the Duck Creek services landscape and presents a detailed assessment of 13 leading providers featured on Everest Group’s Duck Creek Services PEAK Matrix® Assessment 2022. Scope Industry: insurance, financial services Geography: global Contents In this report, we share: An assessment of 13 leading Duck Creek service providers on Everest Group’s Services PEAK Matrix® evaluation framework Characteristics of Leaders, Major Contenders, and Aspirants in the Duck Creek services market Detailed profiles of the providers, along with their key strengths and limitations Membership(s) Insurance Information Technology Sourcing and Vendor Management

The pandemic and the rise of digital-native challengers have driven insurers to offer what we refer to as a Secure, Ubiquitous, Personalized, Easy, and Responsive (SUPER) experience across different insurance products. Insurers are looking for ways to enhance customer experience, market personalized products, drive differentiation, and explore alternate revenue streams to boost sales. A successful digital experience strategy, driven by a product that can meet their needs, has become a strategic imperative for insurers. In recent years, Salesforce has established itself as the preferred Digital Experience Platform (DXP) for many insurance enterprises. A meaningful expansion in capabilities via the acquisitions of Vlocity, Tableau, and Mulesoft has also increased Salesforce leverage among insurers. To respond to the evolving demand themes, IT service providers are building strong, insurance industry-specific solutions to expedite their clients’ time-to-market and making tuck-in acquisitions to plug gaps across their Salesforce service portfolios and enhance their geographic footprints. In this research, we provide detailed profiles of 12 global insurance Salesforce service providers featured on Everest Group’s Salesforce Services in Insurance PEAK Matrix® 2022. Scope Industry: insurance Geography: global The assessment is based on Everest Group’s annual RFI process for the calendar year 2021, interactions with leading platform IT services providers, client reference checks, and an ongoing analysis of the insurance platforms market Contents This report features: Salesforce Services in Insurance PEAK Matrix® Assessment 2022 An overview of the featured providers’ Salesforce services businesses and offerings – vision, business performance, and extent of adoption in insurance across geographies Client success stories, including the business challenges addressed, solutions delivered, and impact generated An overview of the providers’ Salesforce services domain investments, key Intellectual Property (IP) / solutions, and key partnerships in the insurance industry Everest Group’s perspective on the providers’ strengths and limitations Membership Insurance Information Technology Sourcing and Vendor Management

The pandemic and the rise of digital-native challengers have accelerated the need for insurers to offer a Secure, Ubiquitous, Personalized, Easy, and Responsive (SUPER) experience across different insurance products. Insurers are looking for ways to enhance customer experience, market personalized products, and boost sales to drive differentiation and explore alternate revenue streams. A successful digital experience strategy, driven by a product that can meet their needs, has become a strategic imperative for insurers. In recent years, Salesforce has established itself as a preferred Digital Experience Platform (DXP) for many insurance enterprises. A meaningful expansion in capabilities via the acquisitions of Vlocity, Tableau, and Mulesoft has also augmented Salesforce leverage among insurers. To respond to the evolving demand themes, IT service providers are building strong, insurance industry-specific solutions to expedite their clients’ time-to-market and making tuck-in acquisitions to fill gaps across their Salesforce services portfolios and enhance their geographic footprint. In this report, we study the vision, capability, and market impact of 12 leading IT service providers based on their Salesforce services portfolios in the insurance sector. The service providers are positioned on Everest Group’s proprietary PEAK Matrix® and categorized as Leaders, Major Contenders, and Aspirants based on their capabilities and offerings. Scope Industry: insurance Geography: global Our assessment is based on Everest Group’s annual RFI process for the calendar year 2021, interactions with leading IT service providers, client reference checks, and an ongoing analysis of the Salesforce services market Contents In this report, we study: Salesforce services in insurance market trends and their implications on key stakeholders Size of Salesforce services in the insurance market and growth characteristics Everest Group PEAK Matrix® for Salesforce Services in Insurance Characteristics of Leaders, Major Contenders, and Aspirants Service provider assessments Membership(s) Insurance Information Technology Sourcing and Vendor Management

As a result of the COVID-19 pandemic, creating a seamless, frictionless, and digital customer-centric insurance experience has become the new standard for insurers. Technology adoption – including AI-enabled chatbots to assist in the customer journey, Machine Learning (ML) algorithms for personalized recommendations, and data and content management to provide agents with a holistic customer view and help in upselling – plays a major role in empowering customers and agents. At the same time, the entry of digital-native companies and InsurTechs, and a legacy technology stack are posing a threat to insurers. Insurance companies are thus leveraging Digital Experience Platforms (DXPs) for content management, customer experience, and agent enablement to stay competitive. DXPs possess capabilities for targeted campaigning, hyper-personalization, self-service portals, collaboration tools, and a customer/agent 360-degree view to improve retention rates and response times. In this research, we provide detailed profiles of 11 insurance DXP platform providers that have been featured on Everest Group’s Digital Experience Platforms (DXP) in Insurance Industry Products PEAK Matrix® Assessment 2022. Scope Insurance IT services, InsurTech Industry:Insurance Geography:Global The assessments are based on Everest Group’s annual RFI process for the calendar year 2021, interactions with leading DXP providers, client reference checks, and an ongoing analysis of the insurance DXP market Contents In this report, we provide: Digital Experience Platforms (DXP) in insurance industry products PEAK Matrix® assessment 2022 An overview of the 11 platform providers’ digital experience offerings – vision, business performance, and extent of adoption of platforms in insurance across geographies Client success stories, including the business challenges addressed, solutions delivered, and impact generated An overview of the providers’ domain investments, key Intellectual Property (IP) / solutions, and key partnerships Everest Group’s perspective on the strengths and limitations of the 11 DXP providers Membership(s) Insurance Information Technology Sourcing and Vendor Management

Following the COVID-19 pandemic, creating a seamless, frictionless, and digital customer-centric insurance experience has become the new standard for insurers. Technology adoption – including AI-enabled chatbots to assist in the customer journey, Machine Learning (ML) algorithms for personalized recommendations, and data and content management to provide agents with a holistic customer view and help in upselling – plays a major role in empowering customers and agents. At the same time, the entry of digital-native companies and InsurTechs, and a legacy technology stack are posing a threat to insurers. Insurance companies are thus leveraging Digital Experience Platforms (DXPs) for content management, customer experience, and agent enablement to stay competitive. DXPs possess capabilities for targeted campaigning, hyper-personalization, self-service portals, collaboration tools, and a customer/agent 360-degree view to improve retention rates and response times. This report examines the dynamics of the insurance DXP product landscape and presents detailed assessments of 11 DXP products featured on Everest Group’s Digital Experience Platforms in Insurance Industry Products PEAK Matrix®. Scope Insurance IT services, InsurTech Industry: Insurance Geography: Global Contents In this report, we provide: An assessment of 11 DXP providers in the insurance market on Everest Group’s Products PEAK Matrix® evaluation framework Characteristics of Leaders, Major Contenders, and Aspirants in the insurance DXP market An overview of the DXP providers’ offerings, including vision, product capabilities, adoption across geographies, case studies, partnerships, and investments Membership(s) Insurance Information Technology Sourcing and Vendor Management

The US retirement plan industry is evolving rapidly, with factors such as demographic shifts, alternative employment options, participants’ changing financial needs, and regulatory changes impacting plan providers’ business priorities. Plan providers face unique challenges as they try to meet sponsors’ and participants’ growing expectations, while also coping with changing regulatory requirements, an ongoing need to reduce costs, and fee compression in a low interest-rate environment. The COVID-19 pandemic has compounded these pressures and the corresponding cost implications, which have accelerated the need for digital adoption and disruptive transformation. Plan providers are shifting their focus to a more holistic approach of managing financial wellness and are exploring ways to move away from a product-based differentiation to differentiated and personalized experiences for sponsors and participants to retain them in the long term. However, their reliance on legacy core systems is impeding progress. Retirement plan providers are viewing this as an opportunity to enhance their systems and adopt a cloud-first strategy to offer their stakeholders an end-to-end digital experience. While the need to modernize legacy systems is undeniable, different approaches to achieve that goal are emerging, and plan providers need to employ a modernization approach that best suits their strategic priorities, risk appetite, and targeted end state. Scope Industry: retirements Geography: US Contents In this study, we explore the changing market drivers and approaches to modernization in the retirement plan industry by examining: Business challenges driving transformation in the current technology landscape Potential benefits of modernization and key measures of success Alternate modernization approaches Best practices for successful modernization, learnings from plan providers’ experiences and commentary from Oculus Partners – a strategic consulting firm focused on the retirement plan and wealth management industry Membership(s) Banking Information Technology Sourcing and Vendor Management