This report identifies key demand-side trends in the life and annuities (L&A) insurance industry that can help enterprises fine-tune their digital strategies. It also provides an overview of enterprise challenges in the L&A insurance industry based on Avasant’s assessment.
Why read this Market Insights?
The life and annuities (L&A) insurance industry is experiencing the impact of rising interest rates and robust annuity sales, prompting insurers to adopt emerging technologies to enhance policyholder experiences, drive customer retention, and support long-term growth. While L&A insurers are leveraging Gen AI for customer-centric innovation and operational efficiencies, they are also focusing on refining underwriting processes, enhancing customer wellness, and strengthening cybersecurity measures. Moreover, recognizing the need for both deep insurance expertise and technological proficiency, L&A insurers are increasingly partnering with service providers to fast-track digital transformation.
The Life and Annuities Insurance Digital Services 2024–2025 Market Insights™ aids enterprises in the L&A insurance sector in identifying important market trends and challenges for any digital project they participate in.
Methodology
The industry insights presented in this report are based on the following: our ongoing interactions with enterprise CXOs and other key executives; targeted discussions with service providers, subject matter experts, and Avasant Fellows; analyst insights from primary and secondary research; and lessons learned from consulting engagements.
Table of contents
About the report (Page 3)
Executive summary (Pages 4–7)
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- Defining L&A insurance digital services scope
- Key drivers and enterprise response
- Avasant recognizes 25 top-tier service providers supporting the life and annuities insurance industry in digital transformation
Demand-side trends (Pages 8–13)
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- L&A insurers are crafting an era of precision and personalization with cutting-edge Gen AI, analytics, and cloud capabilities
- Gen AI is the engine powering unprecedented efficiency and customer-centric innovation for life and annuity insurers
- L&A insurers are revolutionizing underwriting into a seamless, digital technology-powered machine of speed and accuracy
- L&A insurers are championing healthier lives with digital technology-driven well-being programs
- Amid rising cyberattacks, L&A insurers are reshaping the cyber landscape with intelligent defense frameworks and agile, real-time threat mitigation strategies
Key contacts (Page 14)
Read the Research Byte based on this report. Please refer to Avasant’s Life and Annuities Insurance Digital Services 2024–2025 RadarView™ for detailed insights on the service providers and supply-side trends.