This RadarView™ helps life and annuity (L&A) insurance companies 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 L&A insurance market. It continues with a detailed assessment of 25 leading service providers. 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. The report can aid businesses in identifying the right partners and service providers to support their digital transformation journeys.
Why read this RadarView?
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 Annuity Insurance Digital Services 2024–2025 RadarView™ highlights key supply-side trends in the L&A insurance space and Avasant’s viewpoint on them. It aids L&A insurance companies in identifying top service providers to assist them in digitalizing their services. It also analyzes each service provider’s capabilities in technology and delivery support, enabling organizations to select the right strategic partners for the L&A insurance industry.
Featured providers
This RadarView includes an analysis of the following service providers in the L&A insurance digital services space: Accenture, Aspire Systems, Capgemini, Coforge, Cognizant, DXC, Eviden | Atos, EXL, Genpact, HCLTech, Hexaware, IBM, Infosys, Kyndryl, LTIMindtree, Mphasis, NTT DATA, Persistent Systems, Sutherland, 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, and Avasant’s ongoing market interactions. The assessment is across three dimensions of practice maturity, investments and innovation, and partner ecosystem, 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 4–10)
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- Defining L&A insurance digital services scope
- Avasant recognizes 25 top-tier service providers supporting the life and annuities insurance industry in digital transformation
- Provider comparison
Supply-side trends (Pages 11–16)
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- Service providers are driving innovation in the L&A insurance industry by developing new Gen AI use cases and POCs
- Service providers are harnessing Gen AI to reinvent efficiency and innovation for L&A insurers
- Providers are leveraging AI/ML, cloud, automation, and low-code capabilities to elevate policyholder experiences for L&A insurers
- Service providers are revolutionizing insurance with cutting-edge technologies and specialized innovation hubs
- Insurtech alliances are empowering service providers to offer continued support to insurers across geographies
Service provider profiles (Pages 17–92)
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- Detailed profiles for Accenture, Aspire Systems, Capgemini, Coforge, Cognizant, DXC, Eviden | Atos, EXL, Genpact, HCLTech, Hexaware, IBM, Infosys, Kyndryl, LTIMindtree, Mphasis, NTT DATA, Persistent Systems, Sutherland, TCS, Tech Mahindra, Virtusa, Wipro, WNS, and Zensar
Appendix (Pages 93–96)
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- RadarView assessment
- Research methodology and coverage
- Interpretation of classification
Key contacts (Page 97)
Read the Research Byte based on this report. Please refer to Avasant’s Life and Annuities Insurance Digital Services 2024–2025 Market Insights™ for demand-side trends.