Insurance Business Model Innovation Enablement Services – Service Provider Compendium 2021

11 Dec 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 the willingness to engage via flexible commercial constructs to fund transformation programs.

In this report, we provide detailed profiles of 16 leading IT service providers featured on Everest Group’s PEAK Matrix® for Insurance Business Model Innovation Enablement Services. Each profile provides information on the service provider’s top investments to enable business model innovation, the vision for enabling new business model innovation for insurance clients, and key success stories.


This research studies 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 share:

  • A snapshot of the Insurance Business Model Innovation Enablement Services PEAK Matrix® Assessment 2021
  • An overview of the service providers’ top investments to enable the insurers’ business model innovation journeys
  • Service providers’ vision for enabling new business model innovation for insurance clients
  • Providers’ key success stories
  • Everest Group’s perspective on the strengths and areas of improvement for the 16 service providers


Insurance Information Technology

Sourcing and Vendor Management


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