In recent years, insurance enterprises have pursued modernization initiatives to enhance 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 strive to quickly realize value from existing investments with minimal complexity in integration or application development. Insurers are increasingly relying on low-code technology to rapidly develop applications, integrate systems, and meet time-to-market needs. Low-code solutions offer insurers out-of-the-box integrations with their existing technology stack, enabling rapid value realization from digitization investments and eliminating the need for extensive transformation efforts.

In this report, we assess 21 low-code technology providers featured on the Low-code Technology Providers in Insurance – Products PEAK Matrix^® Each profile offers a comprehensive picture of the provider’s product capability overview, delivery presence, solutions on offer, investments, partnerships, and market success. The report 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 the 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