Insurance Business Model Innovation Enablement Services PEAK Matrix® Assessment 2021 – Pathways to Drive Competitive Advantage Amidst Uncertainties

20 Nov 2020
by Ronak Doshi, Aaditya Jain, Supratim Nandi, Vigitesh Tewary, Abhishek Chauhan, Shrey Kalawatia

The rise of the sharing economy, rapidly evolving customer demands, the changing nature of risks, and significant COVID-19-caused shifts in the business environment have prompted carriers to institute new business models by enabling products, services, pricing, and channel innovation.

To support insurers in their business model innovation journeys, IT service providers are adopting a business-first lens to operating model transformation, demonstrating rapid prototyping capabilities, showcasing high levels of strategic thinking and innovation credentials, and showing willingness to engage via flexible commercial constructs to fund transformation programs.

In this report, Everest Group studied the vision, capability, and market impact of 16 leading IT service providers with respect to their business model innovation enablement services portfolio in the insurance sector. The service providers were positioned on Everest Group’s proprietary PEAK Matrix® and categorized into Leaders, Major Contenders, and Aspirants.


This research covers the following IT service providers associated with insurance business model innovation enablement services: Birlasoft, Capgemini, Coforge, Cognizant, DXC Technology, HCL Technologies, LTI, Mindtree, Mphasis, RapidValue, TCS, Tech Mahindra, Trianz, Virtusa, Wipro, and Zensar Technologies.


In this report, we focus on:

  • Assessment of service providers on several capability-related dimensions related to insurance business model innovation enablement services
  • Key market trends and their implications for key stakeholders
  • Everest Group PEAK Matrix for insurance business model innovation enablement services
  • Characteristics of Leaders, Major Contenders, and Aspirants
  • Profiles of service providers


Insurance - IT Services (ITS)

Sourcing and Vendor Management


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