As a result of the COVID-19 pandemic, creating a seamless, frictionless, and digital customer-centric insurance experience has become the new standard for insurers. Technology adoption – including AI-enabled chatbots to assist in the customer journey, Machine Learning (ML) algorithms for personalized recommendations, and data and content management to provide agents with a holistic customer view and help in upselling – plays a major role in empowering customers and agents.

At the same time, the entry of digital-native companies and InsurTechs, and a legacy technology stack are posing a threat to insurers. Insurance companies are thus leveraging Digital Experience Platforms (DXPs) for content management, customer experience, and agent enablement to stay competitive. DXPs possess capabilities for targeted campaigning, hyper-personalization, self-service portals, collaboration tools, and a customer/agent 360-degree view to improve retention rates and response times.

In this research, we provide detailed profiles of 11 insurance DXP platform providers that have been featured on Everest Group’s Digital Experience Platforms (DXP) in Insurance Industry Products PEAK Matrix® Assessment 2022.

Scope

Insurance IT services, InsurTech

• Industry:Insurance
• Geography:Global
• The assessments are based on Everest Group’s annual RFI process for the calendar year 2021, interactions with leading DXP providers, client reference checks, and an ongoing analysis of the insurance DXP market

Contents

In this report, we provide:

• Digital Experience Platforms (DXP) in insurance industry products PEAK Matrix® assessment 2022
• An overview of the 11 platform providers’ digital experience offerings – vision, business performance, and extent of adoption of platforms in insurance across geographies
• Client success stories, including the business challenges addressed, solutions delivered, and impact generated
• An overview of the providers’ domain investments, key Intellectual Property (IP) / solutions, and key partnerships
• Everest Group’s perspective on the strengths and limitations of the 11 DXP providers

Membership(s)

Insurance Information Technology

Sourcing and Vendor Management