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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.
  • Thematic Report

    June 30, 2025
    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.
  • Viewpoint

    June 17, 2025
    Insurers today are navigating growing economic pressures, increasing regulatory complexities, and rapidly evolving customer expectations. In response, they are reimagining their approach to outsourcing by shifting the focus from cost savings to agility, innovation, and strategic alignment. Insurance BPS providers are adapting by embedding AI and machine learning, intelligent automation, and advanced analytics across core processes such as product development, underwriting, claims, and policy servicing. They are also integrating more closely with client ecosystems while adopting outcome-based pricing, risk-sharing arrangements, and workforce reskilling to deliver tangible business impact. This report explores the ongoing transformation of insurance BPS from a transactional support function into a strategic growth driver and digital enabler. It highlights emerging outsourcing opportunities across processes such as new product development and distribution, underwriting, and claims processing. Additionally, it offers a framework for insurers to reassess their sourcing strategies, define evaluation criteria, and build more resilient and future-ready operations through deeper, more collaborative partnerships. Scope Industry: insurance Geographies: global Service: insurance BPS Content This report provides insights into: Strategic decision-making criteria for outsourcing processes traditionally managed in house External factors prompting reevaluation of BPS strategies, including regulatory changes, economic headwinds, and workforce shifts Emerging outsourcing areas across Level 2 insurance value chain processes, including new product development and actuarial services, underwriting, claims processing Opportunities for insurers to align operations with digital innovation, compliance, and customer experience imperatives Providers’ evolving role as transformation enablers through technology integration, domain expertise, and ecosystem partnerships Memberships Insurance Business Process Sourcing and Vendor Management
  • 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.
  • Webinar

    May 20, 2025
    Across the BFSI landscape, banks, insurers, and financial institutions are under mounting pressure to reduce costs, enhance customer satisfaction, and remain compliant—all while delivering measurable value in a volatile economic environment. Traditional effort-based service models are quickly becoming outdated as Gen AI and agentic AI drive fundamental transformation across operations. Watch Everest Group experts Ronak Doshi, Partner, Abhimanyu Awasthi, Practice Director, Kriti Gupta, Practice Director, and Sakshi Maurya, Senior Analyst, for a dynamic webinar that explored the emergence of Systems of Action (SoA), a set of intelligent, autonomous platforms integrating data, insights, AI-driven decisions to automatically orchestrate enterprise-wide actions in real time. The discussion unpacked the evolution of traditional systems of record to intelligent systems of action in banking, capital markets, financial crime compliance (FCC), and insurance segments. It also highlighted how SoA builders can combine data activation, decisioning, process orchestration, and execution as the key to unlocking future value in BFSI. As sourcing challenges become more complex, the panel will also delve into how innovation-led, agile partnerships are becoming essential. What questions did the webinar answer for the participants? How will service delivery value measures evolve in the BFSI landscape and beyond? How can systems of action (SOA) builders—encompassing data activation, decisioning, orchestration, and security—be effectively applied within the BFSI sector? In what ways will Gen AI and agentic AI transform processes and reshape the perception of value across IT, tech, ops, and service delivery? What strategies can enterprises, GBS, and providers adopt to effectively articulate and deliver measurable, outcome-driven value? How can stakeholders across IT, tech, ops, and service delivery partner with the broader ecosystem to drive innovation and enhance overall value?
  • Viewpoint

    May 05, 2025
    The insurance industry is transforming from a traditionally conservative landscape to a tech-savvy, customer-centric ecosystem. This Viewpoint explores how insurers are embracing next-generation technologies, including AI, automation, and generative AI, to modernize their operations. It delves into key aspects such as regulatory compliance, third-party providers’ growing role in driving business outcomes, and the industry's transition from a digital laggard to a forward-thinking, innovation-driven environment. In response to evolving customer demands, insurers are prioritizing digital transformation to deliver superior customer experiences. To unlock long-term value, insurers must improve member engagement, leverage AI technologies, and form strategic partnerships. This Viewpoint offers actionable insights to help insurers navigate this shift, enhance their member experiences, and build more agile, AI-enabled ecosystems. Scope All industries and geographies Contents In this report, we examine: A new era in insurance supported by AI and automation leading to insurers’ digital transformation Stringent regulatory compliance in the insurance industry and strategies insurers employ to stay compliant Role of third-party providers in achieving business outcomes The insurance industry’s transition from a digital laggard to an evolving, tech-first landscape
  • PEAK Matrix®

    April 01, 2025
    The Banking, Financial Services, and Insurance (BFSI) industry is navigating heightened economic uncertainty, rapid technology innovation, and sophisticated customer demands. In response, BFSI 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-code/no-code platforms, and AI-driven solutions. They deliver precision and responsiveness that are often lacking in larger providers. 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 analyze 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. Scope Industry: insurance and financial services Geography: global Contents In this report, we: Assess 33 IT services specialists Position providers as Leaders, Major Contenders, and Aspirants Compare providers’ key strengths and limitations
  • 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
  • Webinar

    Feb. 04, 2025
    The BFSI (banking, financial services, and insurance) landscape is evolving at an unprecedented pace. This industry is undergoing a seismic shift fueled by rapid technological advancements, evolving customer expectations, increasing regulatory scrutiny, and new business models. Watch our BFSI experts as they uncover how this industry is poised to transform over the next five years. Learn their perspectives on this evolution and pinpoint the opportunities and challenges that lie ahead. Secure your spot today and take a leading role in redefining the future of BFSI. What questions did the webinar answer? How is the BFSI industry expected to evolve in the next five years, and what are the emerging opportunities and challenges? What is the future of BFSI products, customer experiences, and business models? What will the role of AI and other emerging technologies be in redefining BFSI operations and driving innovation? What are the sourcing best practices to incentivize supplier behavior and drive better innovation and governance?
  • Thematic Report

    Jan. 20, 2025
    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 with senior executives across industries in which they share their experiences and opinions with industry peers on hot industry topics or particularly challenging issues of the day. In this virtual roundtable, Everest Group executives explored forward-thinking technology and operation priorities in BFSI, such as cost, AI adoption, and future challenges. This forum is a prime opportunity to connect with experts, ask questions, and gain valuable perspectives from peers. In this session, participants discussed how 2024 was concluding and their plans for 2025. The following topics were addressed: What cost-saving targets are set for the next year? How are participants factoring in AI’s benefits and costs? How should investment budgets and expected challenges be planned for?