Customer expectation for an Amazon-like experience is driving Property and Casualty (P&C) insurers to reevaluate their digital transformation strategies. However, workflow complexities due to multiple intermediaries and legacy systems are resulting in high turnaround time, information leakages, frauds, and, ultimately, a subpar customer experience. To establish a digital-first operating model, insurers initially digitized their sales and distribution operations but soon shifted their focus to low-touch and seamless core operations such as claims management to generate superior efficiency, leverage data and ecosystem insights to identify fraud, and improve the claims ratio by building predictive and preventive capabilities.

This compendium provides detailed and fact-based snapshots of 17 digital claims solution providers featured on the Digital Claims in P&C Insurance Solutions PEAK Matrix^®. Each profile provides a comprehensive picture of the provider’s strengths and limitations. The compendium will enable 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
• The assessment is based on Everest Group’s annual RFI process for calendar year(s) 2021-22, interactions with leading digital claims solution providers, client reference checks, and an ongoing analysis of the insurance digital claims market

Contents

In this report, we:

• Provide the Digital Claims in Property and Casualty (P&C) Insurance Solutions PEAK Matrix^® Assessment 2023
• Examine 17 digital claims solution providers’ offerings, along with their vision, product capabilities, adoption across geographies, case studies, partnerships, and investments
• Discuss client success stories, including the business challenges addressed, services delivered, and impact generated
• Study the providers’ domain investments, key Intellectual Property (IP) / solutions, and key partnerships
• Present Everest Group’s perspective on the key strengths and limitations of the 17 digital claims solution providers

Membership(s)

Insurance Information Technology

Sourcing and Vendor Management