Life & Annuities (L&A) Insurance State of the Market 2020: Platform-first Model to Simplify and Rationalize Systems for Rapid Cost Take-out

8 Jun 2020
by Ronak Doshi, Supratim Nandi, Aaditya Jain, Vigitesh Tewary, Shrey Kalawatia

In this research, we carry out a detailed analysis of the Life & Annuities (L&A) insurance industry, analyzing the forces shaping the industry’s future, especially in the light of the COVID-19 pandemic. We highlight the implications for key insurance functions and recommend strategies for L&A insurers to thrive in the next normal. The report also studies the industry’s IT services spend and provides IT outsourcing spend analysis by line of business, buyer size, geography, and IT services segment.

Scope

In this report, we study the following topics:

  • Forces shaping the future of the L&A insurance industry
  • Implications for L&A insurers in the light of COVID-19 and how they can navigate the impact
  • A technology operating model to drive business transformation and set up L&A insurers for future success
  • IT outsourcing spend analysis of L&A insurers across Lines of Business (LoBs), buyer types, geographies, and service segments
 

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