Mobility Services in Global Insurance – Service Provider Landscape with PEAK Matrix™ Assessment 2016

29 Jan 2017
by Aaditya Jain, Archit Mishra, Jimit Arora, Ronak Doshi

Enterprises in the insurance industry are reviewing their business strategies in the wake of uncertain macroeconomic conditions, destabilizing socio-political instances, and dynamic customer expectations. In order to address these challenges, insurers are looking to identify service-level differentiators and operational enablers in their quest to build a sustainable competitive advantage. At the same time, advancements in wireless technologies, increased availability, and enhanced functionalities have made mobile a preferred operational and transactional medium for consumers.

Insurers that are proactively adopting mobile technologies are witnessing a perceptible improvement in customer loyalty and this has significantly enhanced the earning potential of brokers/agents. The convergence of mobility technologies with other digital technologies such as advanced analytics, cloud & open-source technologies, Internet of Things (IoT), and social media have made it possible for insurers to use technology creatively in a manner that solves real business problems beyond “managing the legacy environment”.

Responding to enterprise priorities, service providers are looking to capitalize on the mobility services opportunity by investing in newer capabilities, realigning their workforce, and developing contextualized solutions to help enterprises in their mobility journey.

In this research, we analyze the capabilities of 16 leading IT service providers specific to mobility services in the global insurance sector. These providers were mapped on the Everest Group Performance | Experience | Ability | Knowledge (PEAK) Matrix, which is a composite index of a range of distinct metrics related to each provider’s capability and market success. In this report, we focus on:

  • State of the mobility services market in insurance
  • The landscape of service providers for mobility services in insurance
  • Assessment of service providers on a number of capability-related dimensions
  • Characteristics of Leaders, Major Contenders, and Aspirants on the Everest Group PEAK Matrix for mobility services in insurance
  • Implications for insurance buyers and service providers

SCOPE OF THE ANALYSIS

  • Market trends and activity
  • PEAK Matrix characteristics
  • Service provider profiles

CONTENT

This report covers an assessment of 16 leading technology service providers. The analysis includes:

  • Trends in mobility services in insurance and their implications for key stakeholders
  • Everest Group Performance | Experience | Ability | Knowledge (PEAK) Matrix for mobility services in insurance
  • Detailed one page profile of each service provider positioned on the PEAK Matrix

Everest Group has a complimentary four-page PEAK Matrix preview document for this service provider landscape report.

Membership(s)

Banking, Financial Services & Insurance (BFSI) - Information Technology Outsourcing (ITO)

 

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