Assessing the Competitive Landscape for U.S. P&C Core Systems
New Aite Group research finds that digital transformation and the rise of ecosystems are newer elements for core system vendors to consider
Boston, MA (Apr. 9, 2020) – Core system vendors in the United States are forced to deal with a shifting property and casualty insurance landscape while serving carrier clients that might be resistant to change. Striking the balance between keeping up with an evolving industry and ensuring that all of carriers’ present needs are met poses a conundrum for these vendors. Aite Group’s latest report, Assessing the Competitive Landscape for U.S. P&C Core Systems, examines how core system vendors must position themselves with carriers in order to win their business.
“The competition for carriers’ business is (and always has been) pretty stiff, so each vendor attempts to position itself as more capable than other vendors so that carriers can draw clear distinctions,” explains Jay Sarzen, senior analyst at Aite Group. “The challenge for vendors is that they tend to focus on the same elements as other vendors when trying to create differentiation,” he adds.
This report shows how core system vendors position themselves against their competitors and how that positioning matches up with what carriers expect from their core system vendors. It is based on data that Aite Group collected in Q3 2019 from 15 vendors via requests for information as well as from reference surveys conducted among executives at 38 of their carrier clients.
Click here for the online summary or to download the table of contents.
This report shows how core system vendors position themselves against their competitors and how that positioning matches up with what carriers expect from their core system vendors. It is based on data that Aite Group collected in Q3 2019 from 15 vendors via requests for information as well as from reference surveys conducted among executives at 38 of their carrier clients.
This 46-page Impact Report contains 43 figures and one table. Clients of Aite Group’s P&C Insurance service can download this report, the corresponding charts, and the Executive Impact Deck.
Click here for the online summary or to download the table of contents.
This report mentions BriteCore, Duck Creek, Finys, Guidewire, Instanda, Insuresoft, Insurity, Majesco, OneShield, SAP, and Sapiens.
About Aite Group
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us at www.aitegroup.com.
Source: Aite Group
Tags: Aite Group, core systems, Duck Creek, Ecosystem, Guidewire, Insurity, Jay Sarzen, Majesco, OneShield, report, SAP, Sapiens, United States (USA)
Read the original article at Insurance-Canada.ca