Boston, December 3, 2020 – Tier-1 and Tier-2 carriers and global brokers have the luxury of working with large partners that enable swift implementation of advanced financial management and HR software, but downstream carriers and brokers are still in need of solutions. However, progress is being made in this market segment, with more firms looking to upgrade software, particularly financial management software, with an emphasis on functionality, efficiency, and cloud customization.

This report makes sense of trends for small and midsize carriers and brokers in addition to software vendors serving this market. Based on a Q3 2019 Aite Group online survey of 165 U.S. and Canadian insurance brokers and carriers with between 35 and 3,000 employees, it outlines current market trends, baselines financial operations metrics and resources, and provides a snapshot of the vendor landscape for software solutions, detailing product needs, satisfaction levels, and importance of features.

This 37-page Impact Report contains 40 figures and one table. Clients of Aite Group’s Health Insurance, Life Insurance, or P&C Insurance service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions ADP, American Express, Bill.com, Discover Financial Services, Duck Creek, FreshBooks, Guidewire, Intuit, Kronos, Mastercard, Microsoft, NetSuite, Paychex, PayPal, Sage, Sage Intacct, Salesforce, SAP, SurePayroll, ViewPost, Visa, and Xero.