Application and Digital Services (ADS) in Life and Annuity (L&A) Insurance – Service Provider Compendium 2023

Life and Annuities (L&A) insurers are partnering with providers to improve their digital transformation journeys and meet customer expectations by enabling accelerated underwriting, improved sales and distribution, and faster new products’ launch. Moreover, macro challenges such as rising inflation and demographic and life expectancy changes are compelling carriers to modernize their legacy technology stack and future-proof their businesses to achieve their cost reduction mandates. In recent years, insurance carriers have been leveraging emerging technologies such as RPA, AI/ML, and IoT/wearables to achieve business-oriented outcomes and improve customer and agent experiences.

This compendium provides detailed profiles of 21 Application and Digital Services (ADS) providers and positions them on Everest Group’s ADS in L&A Insurance PEAK Matrix^® Assessment 2023. The compendium will enable ADS providers to benchmark their capabilities against their peers, while buyers will be able to assess the providers based on their sourcing needs.

Scope:

• Industry: insurance
• Geography: global

Contents

In this report, we:

• Examine 21 ADS providers’ offerings, along with their vision, revenue mix across geographies, key case studies, partnerships, and investments

• Discuss client success stories and address the business challenges faced, services delivered, and impact generated

• Study the providers’ domain investments, key Intellectual Property (IP) / solutions, and key partnerships

• List providers’ key strengths and limitations 

Membership(s)

Insurance Information Technology

Sourcing and Vendor Management