During a time of economic uncertainty, tough macroeconomic conditions, pricing pressures, and the emergence of new competitors, insurers must transform their role from being mere risk insurers to risk guardians, and they must focus intently on core modernization. To achieve this goal, insurers need to drive front-to-back modernization that addresses both growth and efficiency mandates. They must establish a modern core foundation and leverage a core technology partner ecosystem.

In this report, we explore the need for core modernization and present a three-pronged agenda for insurers to maximize the value from their core systems. While insurers are investing in the right infrastructure, it is vital for them to select the best-fit core to realize value from their investments. Insurers must take a long-term view of core transformation to guide their broader IT strategies, future-proof their technology estates, and establish scaled data-driven decision-making capabilities.

Scope:

• Industry: insurance
• Geography: global

Contents:

In this report, we:

• Provide a three-pronged agenda for insurers to maximize value from their core systems
• Discuss enterprise considerations for selecting the right core platform
• Examine enterprise considerations for selecting the right integration partner

Membership (s)

Insurance Information Technology

Sourcing and Vendor Management