This RadarView helps life and annuities (L&A) insurance enterprises craft a robust strategy based on industry outlook, best practices, and digital transformation. It begins with a summary of key trends shaping the supply side of the market. It continues with a detailed assessment of 24 providers offering digital services in the L&A insurance industry. Each profile provides an overview of the service provider, its industry-specific solutions, and a list of representative clients and partnerships, along with brief client case studies. Each profile concludes with analyst insights on the provider’s practice maturity, investments and innovation, and partner ecosystem.
Why read this RadarView?
Amid evolving customer demands, the L&A insurance industry has been under pressure to offer personalized digital experiences and launch innovative insurance products to tap into new customer segments. To alleviate this pressure, L&A insurers are adopting digital technologies to overcome legacy challenges, augment distribution channels, and enhance customer experience. They are also streamlining operations and launching sustainable insurance products. As this requires a strong insurance domain knowledge and technological expertise, L&A insurers are collaborating with service providers for digital transformation.
The Life and Annuities Insurance Digital Services 2023–2024 RadarView™ highlights key supply-side trends in the L&A insurance space and Avasant’s viewpoint on them. It aids companies in identifying top service providers to assist them in the digital transformation of their L&A insurance offerings. It also analyzes each service provider’s capabilities in technology and delivery support, enabling organizations to identify the right strategic partners.
Featured providers
This RadarView includes a detailed analysis of the following service providers: Accenture, Aspire Systems, Atos, Capgemini, Coforge, Cognizant, Damco Solutions, DXC, EXL, Genpact, HCLTech, Hexaware, IBM, Infosys, LTIMindtree, Mphasis, NTT DATA, Softtek, TCS, Tech Mahindra, Virtusa, Wipro, WNS, and Zensar.
Methodology
Our evaluation of service providers is based on primary input from the providers, focused briefings, public disclosures, validation from their clients, and Avasant’s ongoing market interactions. The assessment is across the three dimensions of practice maturity, partner ecosystem, and investments and innovation, leading to our recognition of those service providers that have brought the most value to the market over the past 12 months.
Table of contents
About the report (Page 3)
Executive summary (Pages 4–9)
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- Defining life and annuities insurance scope
- Avasant recognizes 24 top-tier providers supporting the life and annuities insurance industry in digital transformation
- Provider comparison
Supply-side trends (Pages 10–12)
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- Service providers are using AI, cloud, analytics, and automation to enable digital transformation in the L&A insurance space
Service provider profiles (Pages 13–85)
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- Detailed profiles for Accenture, Aspire Systems, Atos, Capgemini, Coforge, Cognizant, Damco Solutions, DXC, EXL, Genpact, HCLTech, Hexaware, IBM, Infosys, LTIMindtree, Mphasis, NTT DATA, Softtek, TCS, Tech Mahindra, Virtusa, Wipro, WNS, and Zensar
Appendix (Pages 86–89)
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- RadarView assessment
- Research methodology and coverage
- Interpretation of classification
Key contacts (Page 91)
Read the Research Byte based on this report.
Please refer to Avasant’s Life and Annuities Insurance Digital Services 2023–2024 Market Insights™ for demand side trends.
