This report helps property and casualty insurers craft a robust strategy for digital transformation based on the industry’s outlook and best practices. It begins with a summary of key trends shaping the property and casualty insurance industry, followed by the direction of the industry over the next 18–24 months. We continue with a detailed assessment of 24 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 innovations, 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 property and casualty insurance industry is seeing an increasing demand for enhanced customer experience. Property and casualty insurers are identifying new growth avenues by either acquiring capabilities or partnerships with insurtechs to leverage their domain and technological expertise for improving customer experience.
This report assists property and casualty insurers in charting their action plans. It also identifies key service providers and system integrators that can help property and casualty insurers accelerate their digital adoption.
This RadarView includes an analysis of the following service providers in the property and casualty insurance digital services space: Accenture, Atos, Capgemini, CGI, Coforge, Cognizant, DXC, EXL, Genpact, GFT, HCL, Hexaware, IBM, Infosys, LTI, Mindtree, Mphasis, NTT DATA, Synechron, TCS, Tech Mahindra, Wipro, WNS, and Zensar.
The industry insights and recommendations presented are based on our ongoing interactions with senior executives, vendors, subject matter experts, and Avasant Fellows, along with lessons learned from consulting engagements.
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 the 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)
Scope of the report (Pages 4–5)
Executive summary (Pages 6–8):
- Executive summary
- Avasant recognizes 24 top-tier providers supporting property and casualty insurers in digital transformation
Lay of the land (Pages 9–16)
- Global events impact P&C insurance premiums
- Claims costs rise due to raw material and labor costs inflation
- Claims increase because of construction activities and frequent disasters
- P&C insurance industry has been consolidating
- Entrants new to the P&C insurance industry continue to pose a challenge
- Impact of change in the regulatory environment and ESG guidelines
The road ahead (Pages 17–21)
- Chart a detailed investment plan for digital and business strategies
- Leverage digital technologies to transform the customer experience
- Partner with insurtechs to leverage their digital expertise
- Partner with service providers to leverage digital solutions
RadarView overview (Pages 22–27)
- Methodology and coverage
- Interpretation of classification
- RadarView assessment
Service provider profiles (Pages 28–100)
- Detailed profiles for Accenture, Atos, Capgemini, CGI, Coforge, Cognizant, DXC, EXL, Genpact, GFT, HCL, Hexaware, IBM, Infosys, LTI, Mindtree, Mphasis, NTT DATA, Synechron, TCS, Tech Mahindra, Wipro, WNS, and Zensar.
Read the Research Byte based on this report.