Insurance Technology Vendors and P&C Carriers: Alignments and Disconnects
Report Summary
Insurance Technology Vendors and P&C Carriers: Alignments and Disconnects
Where Are Leading Vendors Focusing Their Energies, And Does That Focus Meet Carriers' Needs?
Boston, August 7, 2013 - Now more than ever before, technology is impacting the insurance industry and forcing transformation. Vendors need to do a better job of aligning their solutions with P&C insurance carrier needs--as carriers attempt to balance multiple competing priorities, some insurance technology vendors are focused more on selling and describing what they already provide than on offering what the market really needs. Vendors must pay less lip service and more attention to delivering real innovation to their P&C insurance clients. But where do carrier needs and vendor solutions currently align, and where do they disconnect?
Based on May and June 2013 Aite Group interviews with and surveys of 23 P&C industry vendors, this Impact Note by senior analyst Stephen Applebaum speaks to the types of solutions being offered to and sought by P&C insurers, discusses the relative priorities of insurers and vendors, and identifies major areas of opportunity for established players and recent entrants to the space.
This 18-page Impact Note contains nine figures. Clients of Aite Group's P&C Insurance service can download the report.