In recent years, insurance enterprises have embarked on a modernization spree to improve the experience for both customers and stakeholders. However, the significant surge in costs and unprecedented underwriting losses in these challenging times have intensified the need for an agile, scalable approach to modernization.

Leading insurance organizations seek support to manage the technology environment, address talent shortage, and respond to changing market dynamics. They aim to realize value from existing investments quickly and with minimal complexity in integration or application development. Insurers are increasingly relying on low-code technology for rapid application development, integration, and meeting time-to-market needs. Low-code solutions offer insurers with out-of-the-box integrations with their existing technology stack, enable rapid value realization from digitization investments, and eliminate the need for extensive transformation efforts.

In this research, we assess 21 low-code technology providers featured on the Low-code Technology Providers in Insurance – Products PEAK Matrix^®. The research will help buyers select the right-fit provider for their needs, while providers will be able to benchmark themselves against each other.

Scope

• Industry: Insurance
• Geography: Global
• The assessment is based on Everest Group’s annual RFI process for calendar year 2023, interactions with leading low-code technology providers, client reference checks, and an ongoing analysis of the low-code solutions market

Contents

In this report, Everest Group analyzes 21 low-code technology providers’ capabilities to serve insurance enterprises on its proprietary PEAK Matrix^® assessment framework.

Membership(s)

Insurance Information Technology

Sourcing and Vendor Management