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  • State of the Market

    July 02, 2025
    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.
  • Provider Compendium

    June 27, 2025
    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.
  • Tech Launch Perspective

    June 10, 2025
    Voluntary benefits and supplemental health providers are under increasing pressure to modernize their legacy administration systems in order to meet evolving market demands, navigate growing regulatory complexities, and keep pace with rising consumer expectations. Many of the traditional platforms still in use today lack the agility, scalability, and interoperability required to support rapid product deployment, seamless system integration, and enhanced digital experiences for both employers and end users. This report evaluates Vitech’s newly introduced solution, V3locity Express, a purpose-built supplemental health administration platform designed to directly address these modernization challenges. A cloud-native offering, it is engineered for accelerated deployment, aiming to bring implementation timelines down to less than six months. It supports a broad range of supplemental health products, including accident, critical illness, and hospital indemnity insurance, with the goal of improving time-to-market, operational efficiency, and digital readiness. By examining the platform’s core capabilities, architecture, and alignment with ongoing trends in the benefits administration space, this report aims to provide a strategic view into how insurers can harness modern technologies to transform their supplemental health and voluntary benefits operations, deliver stronger customer experiences, and stay competitive in a dynamic and highly regulated market.
  • Tech Launch Perspective

    June 10, 2025
    Voluntary benefits and supplemental health providers are under increasing pressure to modernize their legacy administration systems in order to meet evolving market demands, navigate growing regulatory complexities, and keep pace with rising consumer expectations. Many of the traditional platforms still in use today lack the agility, scalability, and interoperability required to support rapid product deployment, seamless system integration, and enhanced digital experiences for both employers and end users. This report evaluates Vitech’s newly introduced solution, V3locity Express, a purpose-built supplemental health administration platform designed to directly address these modernization challenges. A cloud-native offering, it is engineered for accelerated deployment, aiming to bring implementation timelines down to less than six months. It supports a broad range of supplemental health products, including accident, critical illness, and hospital indemnity insurance, with the goal of improving time-to-market, operational efficiency, and digital readiness. By examining the platform's core capabilities, architecture, and alignment with ongoing trends in the benefits administration space, this report aims to provide a strategic view into how insurers can harness modern technologies to transform their supplemental health and voluntary benefits operations, deliver stronger customer experiences, and stay competitive in a dynamic and highly regulated market. Scope Industry: life and annuity insurance Geography: US Contents In this report, we examine: Key enterprise issues and objectives in life insurance and voluntary benefits, specifically within the supplemental health technology landscape Vitech’s current positioning relative to enterprise technology adoption drivers and inhibitors The launch of V3locity Express, Vitech’s offering tailored to the supplemental health market
  • PEAK Matrix®

    June 05, 2025
    Increasing demand for integrated benefits platforms, rising employer expectations, and a heightened focus on operational efficiency are rapidly transforming the North American Life and Annuity (L&A) insurance industry. As insurers modernize their core legacy systems, cloud-native Policy Administration Systems, AI-driven automation, and low-/no-code development platforms have become essential business transformation enablers. To support evolving workplace benefits models, platform providers are delivering API-driven, SaaS-based ecosystems with embedded compliance, modular integration, and real-time analytics. Simultaneously, the rise of voluntary benefits and supplemental health products is driving insurers and niche insurance providers to introduce differentiated offerings tailored to diverse workforce needs, further intensifying the demand for flexible, configurable solutions. Several providers are also leveraging TPA and hybrid SaaS models to offer seamless claims processing, provider administration, and multi-line support. This report comprehensively assesses 15 leading core technology providers featured on Everest Group’s Group Life Insurance and Benefits Core Technology Products PEAK Matrix® Assessment 2025. Based on our annual RFI process, client feedback, and ongoing market research, it 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: 15 group life insurance and benefits insurance core technology providers on Everest Group’s Group Life Insurance and Benefits Core Technology Products PEAK Matrix® Assessment 2025: North America Leaders’, Major Contenders’, and Aspirants’ characteristics Providers’ offerings, along with their visions, product capabilities, adoption characteristics across geographies, case studies, partnerships, and investments North America’s group life insurance and benefits core technology provider market’s market size, growth drivers, investment themes, and future outlook Enterprises’ priorities and demand themes
  • Viewpoint

    May 12, 2025
    Reinsurers today face mounting pressures – from increasingly severe catastrophes and regulatory demands to legacy systems that impede speed and accuracy. Traditional systems of record and engagement are no longer sufficient, as they merely store and display data without enabling action. Insurance core technology and surround systems often plateau at generating dashboards that still depend on someone to act. Reinsurance enterprises today have no shortage of insights but a scarcity of human and AI agents and a system capable of executing on them. SoA fill this gap by ingesting data, applying AI-driven analytics, and autonomously initiating decisions across the value chain. The report outlines how SoA can fundamentally reshape core reinsurance functions such as catastrophe modeling, underwriting, contract administration, technical accounting, and claims management. By embedding SoA, reinsurers can move from manual, reactive processes to intelligent, real-time operations. Benefits include faster decision-making, reduced costs, improved claims accuracy, and enhanced risk responsiveness. In addition to outlining technology and operational changes, the report emphasizes the strategic role of CIOs and COOs in driving SoA adoption. It urges leadership to align stakeholders around business outcomes, invest in data readiness, manage organizational change, and maintain a focus on measurable value. A future-state reinsurer enabled by SoA is envisioned as agile, intelligent, and resilient; capable of adapting instantly to risk events and market shifts. Everest Group concludes that embracing SoA is no longer optional; it is a strategic imperative for reinsurers looking to lead in an increasingly complex and competitive environment. Scope Industry: reinsurance Geography: global Contents In this report, we discuss: What SoA are Functional transformation through SoA within reinsurance Implementation roadmap for SoA within reinsurance Strategic considerations for CIOs and COOs
  • PEAK Matrix®

    April 09, 2025
    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
  • Tech Launch Perspective

    March 13, 2025
    Life and Annuity (L&A) insurers heavily rely on legacy core systems due to several modernization challenges, such as complex long-term financial contracts, heavily customized underwriting, risk, and servicing systems, regulatory compliance, and the high cost and risk of migrating decades of data and policies without loss. DXC Technology has long been a dominant player in the insurance technology space, with one of the largest install bases in the industry. However, its legacy systems have struggled to meet evolving market demands. In response, DXC has embarked on a transformative journey, leading to the launch of Assure Life+, announced at the Insurance Connect Executive Forum 2025 in Charleston, South Carolina. As the industry seeks viable modernization solutions, this report covers the launch of DXC’s Assure Life+ SaaS platform and how it offers one such potential pathway. The report explores key barriers to digital transformation and whether DXC’s new product can help L&A insurers close the technology gaps. Scope Industry: life and annuity insurance Geography: global Contents In this report, we examine: Life insurance technology: key enterprise issues and objectives DXC’s current positioning when it comes to enterprise technology adoption drivers and inhibitors DXC’s announcement at the Insurance Connect Executive Forum 2025 for Assure Life+, Assure BPM, and Assure platforms Membership(s) Insurance Information Technology Insurance Business Process Sourcing and Vendor Management
  • State of the Market

    Dec. 27, 2024
    The impact sourcing ecosystem is rapidly expanding due to the growing interest in sustainable and socially responsible business practices. Enterprises and providers are increasingly incorporating diverse and underserved talent into their operations due to cost efficiency, access to specialized talent, and alignment with ESG and SDG objectives. Traditional providers dominate hiring volumes, while specialists see steady growth in revenue and headcount as they refine talent initiatives and partner with NGOs and educational institutions. Buyers recognize the dual value of cost benefits and corporate citizenship, advocating for more robust reporting and impact sourcing policies’ disclosure. In response, providers are investing in enhanced training programs, certifications, and technology upskilling, enabling impact workers to transition to more complex, higher-value roles. Despite generative AI’s disruptive potential concerns, agentic AI emerges as a promising tool to empower the impact workforce. Key market trends include the CXM industry’s increasing contribution to impact sourcing revenue, growing adoption of impact workers in MEA and APAC regions, and alignment with regulatory frameworks promoting fair labor practices. Governments support impact sourcing through incentives and regulations, while providers adopt inclusive hiring strategies and offer tailored employee support to complement workforce diversity and drive social impact. In this report, we explore macroeconomic drivers, buyer feedback, and generative AI’s influence on the impact sourcing space. Africa stands poised to lead the global impact sourcing growth, showing this approach’s transformative potential in fostering a purpose-driven and sustainable business landscape. The report aims to enable enterprises and providers to incorporate impact sourcing and other inclusive talent management strategies in their organizations. Scope Broad industry with a focus on impact sourcing talent strategy Geography: global Impact sourcing programs of both impact sourcing specialists and traditional service providers This report is based on primary and secondary data collection, conversations with market participants (buyers, outsourcing service providers, and impact sourcing specialists), and fact-based research Contents In this report, we analyze: The concept of impact sourcing and the comprehensive impact sourcing market landscape, including market size, trends, and talent portfolio Impact sourcing’s talent management practices across the hire-to-retire cycle Buyers’ take on impact sourcing Impact sourcing engagement case studies Technology’s role on the impact sourcing market and the future of impact sourcing programs Memberships This Market Report is available to All Memberships
  • Viewpoint

    Dec. 11, 2024
    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