Customer Experience (CX) has emerged as a key differentiator for insurers facing rising customer expectations, intensified competition from InsurTechs, and tighter regulatory scrutiny. To build lasting value and loyalty, leading insurers across both Life and Annuities (L&A) and Property and Casualty (P&C) lines are transforming their operations around personalized, empathetic, and seamlessly orchestrated customer journeys. By delivering consistent, emotionally intelligent, and real-time engagement across key touchpoints, such as onboarding, claims, renewals, and servicing, insurers are not only elevating satisfaction but also unlocking greater agility and long-term growth. This report outlines how insurers are embracing intelligent journey design, embedded AI, and digitally enabled BPS partnerships to elevate CX delivery. It details key transformation imperatives including agentic AI, outcome-linked service models, and front-to-back office integration.

The Property and Casualty (P&C) insurance industry stands at a critical juncture due to volatile market forces and rising customer expectations. Heightened competition, increasing catastrophic event frequency, and an urgency to drive digital-first interactions fuel transformation initiatives in claims. Traditional methods that rely heavily on human intervention are prone to inaccuracies, prolonged cycle times, and resource inefficiencies, compelling insurers to explore avenues for faster, more transparent claims experiences. In response, AI-enabled claims management solutions have emerged as a strategic priority. They blend predictive analytics, workflow automation, real-time fraud detection, and advanced integration capabilities, enhancing operational effectiveness and customer satisfaction. Against this backdrop, this assessment highlights how targeted solutions and partnerships are reshaping the claims landscape. These solutions enable carriers to streamline the entire life cycle, from first notice of loss to post-settlement support, and pave the way for resilient, data-driven operating models. In this report, we analyze 17 technology providers as part of the AI-enabled Claims Management Systems for Property and Casualty (P&C) Insurance – Products PEAK Matrix® Assessment 2025. Scope Industry: Insurance Geography: global Contents In this report, we: Assess 17 technology providers Position providers as Leaders, Major Contenders, and Aspirants Compare providers’ key strengths and limitations

London insurance market faces an increasingly complex global environment. Known for managing intricate risks through a network of syndicates and brokers, Lloyd’s has insured everything – from traditional property risks to emerging threats such as cyber risks. However, global risks’ interconnected nature demands a more agile and responsive market, especially as rising customer expectations and geopolitical tensions push Lloyd’s to a pivotal moment where innovation is essential. In this viewpoint, we outline London insurance market’s strategic priorities, key segments such as property, casualty, and specialty insurance, blueprint model’s role in driving digital transformation, and outlook for insurance enterprises. Scope Industry: insurance Geography: UK Service: insurance BPS Contents In this study, we examine: Product overview in the London insurance market The digital transformation journey Key services offered, strategic collaborations, and value delivery opportunities for providers Focus areas for 2025 and regulatory landscape Memberships Insurance Business Process Sourcing and Vendor Management

The increasing complexity of risks, hardening standard market conditions, and evolving business needs have positioned Excess and Surplus (E&S) carriers as essential providers of coverage for risks that standard insurers typically reject. Once a niche segment for hard-to-place risks, the E&S insurance market has transformed into a vital component of the insurance industry. It now serves a growing number of companies seeking specialized coverage across a wide range of risks. In the US, the E&S market has significantly grown in recent years and is projected to outperform the standard admitted market over the next few years. This evolution underscores its importance and the increasing reliance of businesses on its tailored solutions. In this viewpoint, we explore the major growth drivers shaping the market and identify key challenges and opportunities for carriers looking to navigate the dynamic E&S insurance landscape. Scope Industry: insurance Geography: global Service: insurance BPS Contents In this report, we examine: E&S market size and growth Challenges and opportunities in the E&S market Key considerations for E&S insurers Role of third-party providers Key implications for providers Memberships Insurance Business Process Sourcing and Vendor Management

The insurance industry is at a juncture where existing cloud investments are failing to deliver the anticipated value. Despite substantial efforts, many insurers struggle to leverage cloud technologies to meet evolving business demands, creating a gap between investments and measurable outcomes. This challenge has prompted a shift in focus: insurers are no longer content with incremental improvements but are instead seeking solutions that enable them to achieve key business outcomes, such as enhanced customer experiences, streamlined operations, and sustainable growth. Insurance industry cloud solutions combine the flexibility of general-purpose cloud platforms with the deep domain expertise required to address the insurance sector’s unique challenges. By tailoring solutions to specific needs, industry cloud-based solutions empower insurers to overcome traditional cloud model-based solutions’ limitations and unlock greater value. The report highlights how these solutions are particularly well-suited to bridge the value realization gap, offering insurers a path to align their technology investments with their strategic objectives. This report is a comprehensive guide for insurers and providers looking to implement industry cloud solutions. It introduces a structured roadmap to align industry cloud deployments with Objectives and Key Results (OKRs) tailored to various business verticals within an insurance enterprise. By focusing on OKR-driven implementation, insurers can ensure that their cloud strategies align with organizational goals and are positioned for long-term success. The report provides a blueprint for providers to support insurers in maximizing cloud value realization. It emphasizes the importance of collaboration, customization, and continuous alignment with business outcomes to ensure sustained impact. Scope Industry: insurance Geography: global Contents In this report, we: Examine the pain points for insurance carriers in their cloud adoption journey Present our research derived from recent case studies and deals’ data to evaluate changing enterprise priorities Present a case for specialized industry cloud solutions to help bridge the unmet needs of insurance carriers Identify a potential roadmap to drive success across industry cloud implementation engagements Membership(s) Insurance Information Technology Sourcing and Vendor Management

The Everest Group Leading 50™ Property & Casualty (P&C) Insurance Technology Providers report objectively analyzes the leading technology providers serving the P&C insurance industry. The ranking is based on key parameters, including revenue derived from P&C insurance-focused technology platforms/solutions, line-of-business coverage, value chain coverage, and client geographic coverage. It also examines recent investments in capability enhancements, product launches, and partnerships across the technology landscape. This report provides important insights into leading core and augmentation technology providers for P&C insurers, aiding in more informed provider selection and strategic technology purchase decisions. The report also recognizes technology providers across high-impact segments such as underwriting assistance, fraud detection and mitigation, distribution and agency management, digital experience platforms (including customer experience and relationship management), emerging risks intelligence and assessment – cyber and climate, intelligent workflow orchestration, risk intelligence for property and auto insurance, and standalone pricing and rating engine. It can also serve as a benchmarking tool for technology providers to measure themselves against peers. In addition, this report provides system integration services providers with guidance on industry-specific partnerships to build a more robust value proposition for P&C insurers. By highlighting innovations in cloud, data, and analytics, this report provides a roadmap to stay competitive in the evolving P&C insurance technology landscape, making it a crucial resource for providers aiming to adapt to new challenges and capitalize on emerging opportunities. Scope Industry: P&C insurance Geography: global Contents In this report, we examine: Leading 50™ P&C insurance technology providers The research background, methodology, and scope Recognitions for specialized P&C insurance technology providers Leading 50™ P&C insurance technology providers’ geographical distribution and value chain distribution Role of hyperscalers in driving the P&C insurance industry cloud Generative AI in P&C insurance Role of System Integrators (SIs) and the partnership ecosystem with Leading 50™ Property & Casualty (P&C) Insurance Technology Providers Implications for P&C insurers Membership(s) Insurance Information Technology Sourcing and Vendor Management

Growing cost pressures and increasing loss ratios have driven Property and Casualty (P&C) insurance carriers to enhance their operations to remain competitive. Technology advances and digitally native insurers have increased customer expectations and challenged carriers' financial performances. In response, P&C carriers are strategically leveraging technologies such as automation, analytics, AI, and ML across their value chains. To achieve differentiated RoI, carriers are building in-house capabilities, partnering with InsurTech firms, or outsourcing. In this viewpoint, we offer strategic guidance to P&C insurers on navigating technology adoption and addressing operational challenges. Additionally, the report outlines current technology adoption trends among P&C insurers and a comprehensive framework to effectively leverage technology across the insurance value chain. Scope Industry: insurance Geography: global Service: insurance BPS Contents In this study, we: Examine technology use in P&C insurance operations Analyze the needs driving technology solutions’ adoption Evaluate measures that insurers implement to address operational challenges Assess P&C insurance carriers’ current technology maturity Recommend a use case prioritization roadmap for P&C insurance carriers Membership(s) Insurance Business Process Sourcing and Vendor Management

AI has evolved from simple rule-based systems to complex ML algorithms that mimic human cognition. Technology advances have enabled AI to excel in natural language processing, computer vision, and autonomous decision-making. Additionally, the rise of gen AI, capable of creating original content such as art, music, and literature, has opened new creative frontiers. AI continues to evolve rapidly, promising greater capabilities and applications across multiple domains. One such area advancing significantly is the Property and Casualty (P&C) insurance operations landscape, which has matured technologically over the past few years, leading to increased adoption of automation, analytics, and cognitive tools. To understand how gen AI can create value for enterprises, Everest Group conducted an enterprise readiness survey among presidents, vice presidents, directors, and C-suite executives of over 20 P&C insurance enterprises in the US and the UK. In this viewpoint, we share key takeaways from the survey, focusing on the need, adoption, and urgency of deploying gen AI solutions across insurance operations, along with the associated risks and challenges. The insights include adoption across processes, operational readiness, data readiness, technology readiness, financial readiness, impact on people and sourcing strategies, analysis of use cases and prioritization framework, risks and barriers, and enterprise roadmap to implementing gen AI Scope Industry: insurance Geography: global Service: insurance bps Contents In this study, we Describe the journey from AI to gen AI Analyze potential challenges in gen AI integration Assess sourcing strategies and enterprises’ readiness to implement gen AI Analyze gen AI use cases and prioritization framework, along with an implementation roadmap Memberships Insurance Business Process Sourcing and Vendor Management

Multiple industry headwinds and unconventional competitors have compelled traditional insurers to enhance their products, processes, and customer experiences. To drive recovery and ensure future growth, insurers are modernizing their IT infrastructures and prioritizing operational efficiencies and data-driven decision-making. However, increased market risks, rising claim costs, disrupted supply chains, and outdated processes are pressuring profit margins, necessitating a shift from insuring loss to ensuring protection. Generative AI can be valuable for insurers to enhance their RoI from modernization efforts and accelerate business value realization. Underwriting, in particular, presents significant long-term value-creation potential. However, while generative AI can transform several core insurance functions, firms must start with small, incremental steps to demonstrate business value before scaling up. Implementing generative AI with staggered investments can yield near-term efficiency gains, improve underwriting accuracy in the medium term, and transform the underwriting function in the long term. Scope Industry: insurance Geography: global Contents In this viewpoint, we: Examine the need for underwriting excellence to achieve business resilience Identify challenges and opportunities in the Property and Casualty (P&C) insurance underwriting space Assess data and generative AI’s roles in transforming the underwriting function Analyze generative AI use cases Recommend a generative AI adoption roadmap and discuss key considerations along the journey Membership(s) Insurance Information Technology Sourcing and Vendor Management

This Virtual Roundtable Discussion Summary is available only to Outsourcing Excellence members. For information on membership, please contact us Everest Group regularly organizes virtual sessions where senior executives from enterprises convene to share experiences and network with colleagues from other organizations on hot industry topics or particularly challenging issues of the day. In this virtual roundtable, Everest Group analysts discussed the most impactful sourcing developments influencing BFSI firms in 2024. Participants gained insights into how the industry’s sourcing teams adapt and thrive in a shifting ecosystem, including: Strategies to support IT's transition toward a product-operating model Total cost rationalization levers across technology, IT services, and operations Insights into designing and aligning objectives and key results for sourcing teams to drive successful outcomes