Rapidly aging population, persistent economic volatility, and rising personalization and digital transformation expectations are revolutionizing the North American annuities industry. Amid record-high annuity sales and regulatory momentum, enterprises are investing heavily in modernization, customer engagement, and strategic technology adoption to stay competitive. This report offers a comprehensive view of the evolving annuity market landscape through 2027, grounded in macroeconomic trends, product design shifts, and emerging digital capabilities. We explore how demographic forces such as Peak 65 and increased pension risk transfer activity are driving long-term growth while intensifying the need for innovation and scale. With increasing product complexities, the demand for modular platforms, data integration, AI-driven personalization, and embedded annuity solutions is rising. The convergence of annuities with retirement plans and wealth management platforms is blurring traditional boundaries, ushering in a new era of embedded, outcome-based offerings tailored to diverse personas. This report provides strategic insights into how carriers are modernizing their operations, digitizing distribution, and aligning IT investments with measurable business outcomes. It also highlights how private equity-backed players, advisory channels, and technology providers are reshaping the competitive landscape with flexible platforms and intelligent servicing models.

The Banking, Financial Services, and Insurance (BFSI) industry is navigating heightened economic uncertainty, rapid technology innovation, and sophisticated customer demands. In response, enterprises are turning to specialized IT services firms. These providers offer in-depth domain expertise, tailored solutions, and agile, collaborative delivery models and are emerging as viable challengers to traditional, large-scale providers. These specialists address vital capability gaps in cloud transformation, advanced analytics, product engineering, low-/no-code platforms, and AI-driven solutions. They deliver precision and responsiveness that larger providers often lack. Their close client engagements foster strategic partnerships that enhance innovation, optimize operational effectiveness, and accelerate market responsiveness. As competition intensifies and regulations evolve, these providers have become indispensable partners, enabling BFSI firms to sustain a competitive advantage, reduce time-to-market, and enhance customer experiences. In this report, we present detailed profiles of 33 IT service providers as part of the BFSI IT Services Specialists PEAK Matrix® Assessment 2025. Of these, 30 providers are positioned on the BFS assessment and 14 on the insurance assessment. Each profile offers a comprehensive picture of the provider through a snapshot of its operational overview, delivery presence, solutions on offer, investments, and market success.

The North American Life and Annuity (L&A) insurance industry is rapidly transforming, driven by evolving customer expectations, rising competitive pressures, and the growing need for operational agility. As insurers look to modernize their core legacy systems, cloud-native Policy Administration Systems (PAS), AI-driven automation, and low-/no-code development platforms are essential to business transformation. As insurers focus on delivering hyper-personalized products, improving risk assessment accuracy, and accelerating time-to-market, platform providers are offering API-driven, SaaS-based solutions with built-in regulatory compliance, third-party integration, and advanced analytics. Many are also adopting hybrid TPA and SaaS models to deliver end-to-end operational support and next-generation servicing capabilities. This report comprehensively assesses 14 leading core technology providers featured on Everest Group’s Individual Life Insurance Core Technology Products PEAK Matrix® Assessment 2025. Based on our annual RFI process, client feedback, and ongoing market research, this report evaluates leading providers’ capabilities in enabling digital-first insurance operations. The assessment focuses on their abilities to deliver scalable cloud architectures, AI-powered solutions, stakeholder experience initiatives, and seamless integration across the insurance technology ecosystem. Scope Industry: L&A insurance Geography: North America Contents In this report, we assess: 14 individual life insurance core technology product/solution providers on Everest Group’s Individual Life Insurance Core Technology Products PEAK Matrix® Assessment 2025: North America Leaders’, Major Contenders’, and Aspirants’ characteristics Providers’ offerings, along with their vision, product capabilities, adoption characteristics across geographies, case studies, partnerships, and investments North America’s individual life insurance core technology/solution provider market’s market size, growth drivers, investment themes, and future outlook Enterprises’ priorities and demand themes

The insurance industry is rapidly embracing sustainability, driven by the need to address Environmental, Social, and Governance (ESG) concerns. With the global impact of the COVID-19 pandemic and the escalating effects of climate change, insurance companies are recognizing the importance of integrating sustainable practices into their operations. They are actively incorporating ESG considerations into their risk management, product design, internal operations, long-term strategies, and workforce management. This shift toward sustainability positions these companies as purpose-driven organizations, aligning their core businesses with sustainable practices. By embracing sustainability, insurance firms not only comply with evolving regulatory requirements but also drive innovation, enhance brand reputation, and contribute to a more sustainable and inclusive society. This report explores the emerging sustainable practices within the insurance industry, highlights the challenges that enterprises face along the ESG maturity continuum, examines the projected growth in IT spending on sustainability services by the insurance industry, and explores the role of technology and sustainability ecosystem enablers in helping insurance enterprises drive the sustainability agenda. Scope Industry: insurance Geography: global Contents In this report, we: Highlight the growing importance of sustainable practices in the insurance industry and examine the challenges faced in meeting sustainability goals Review insurance enterprises’ sustainability initiatives Define a three-step framework to understand insurance firms’ sustainability maturity Analyze the sustainability ecosystem enablers for insurance firms, including technology providers, data and analytics providers, service providers, and consulting providers Membership(s) Insurance Information Technology Sourcing and Vendor Management Sustainability Technology and Services

The global insurance industry is undergoing operating model transformation through investments in digital innovation, operational optimization, and technology & talent modernization. One of the key objectives that insurers are targeting with such investments is ensuring competitive brand value by delivering a superior customer experience. An important industry dynamic that is both enabling and pushing insurers to transform is the rise of insurtech startups. These startups are continually bringing innovative ideas and solutions to the market that are noteworthy in their ability to pull the insurance industry out of its legacy mindset and hindrances. The notion of insurtechs being competitors to traditional players has fazed and they are rather being looked at as innovation partners. Consequently, several large insurers have established innovation funds or VC arms to search for high-potential startups and leverage their digital solutions to solve for various longstanding business problems. The momentum is higher in the P&C (re)insurance segment as compared to L&P insurance; however, the latter is catching up as well. This report identifies such high-potential startups that are raising the bar on superior customer experience in insurance. The following information is captured and analyzed in this report: Customer experience transformation and the role of insurtechs: The study focuses on how various insurtechs, specifically those operating in a B2B model, are leveraging digital interventions to enable insurers deliver a superior customer experience and maintain relevance in the market. Key customer-centric value propositions being offered by these insurtechs are product innovation, customer acquisition/retention, risk management, and process excellence Assessment of high-potential insurtechs: The study identifies and analyzes 70 high-potential and well-recognized insurtechs to shortlist the top 20 “Trailblazers” that are leading the transformation of customer experience. The assessment was done using various parameters around their capabilities, market growth, and investor confidence Detailed view of top 20 insurtechs identified as Trailblazers: The report also provides profiles of the 20 Trailblazers, with a qualitative & quantitative commentary on their market success, solution expertise, and investor confidence Membership(s) Insurance - Business Process Outsourcing (BPO)

The insurance industry has not witnessed any revenue breakthrough product in the past few years. At the same time, legacy infrastructure and resistance to change traditional business processes has fundamentally slowed down the ability of insurers to innovate and respond to evolving consumer needs. Proliferation of connected devices, pervasiveness of digital technologies, and rise of the shared economy has now created opportunities for insurers to launch differentiated products and create superior customer experiences. A combined effect of all such factors has driven the growth of InsurTech firms – startups that leverage technology to create value for stakeholders in the insurance industry. Although currently we see dominance of enablers who are aiding traditional insurers to better serve their customers, the insurance sector is witnessing aggressive growth in the number of disruptors that are transforming business models to cater to customer demands in niche segments. Content In this report, we have broken down the insurance value-chain to understand key priorities of insurers across the value-chain elements. We focus on: Understanding the key priorities of insurers across the different tenets of insurance value-chain Identification of key InsurTech firms – “Trailblazers”, who can address these specific priorities for insurers across the insurance value-chain The research also provides our point-of-view on “Insurer of the Future”, gaps in the current state of approach towards business operations, and identification of key technology enablers that can help bridge those gaps. Scope of the analysis: Industry: Insurance (life, annuity, and pensions; property & casualty; and reinsurance); excludes capital markets (investment banking, asset management, custody & funds administration, and brokerage services); retail & commercial banking, and healthcare payers Geography: Global Membership(s) Banking, Financial Services & Insurance (BFSI) - Information Technology Outsourcing (ITO)