Ovum Decision Matrix: Selecting a P&C Insurance Policy Administration Platform – Europe, 2013–14

Introduction

As P&C insurers in Europe respond to the need to bring about significant and sustained operational cost reductions, while also becoming more responsive and agile to changing customer and market needs, Ovum expects the demand for core platform transformation, and core replacement as part of this, to increase in the next three years.

Highlights

As European P&C insurers face the challenges of slow market growth, increasing regulation, volatile investment returns, and the uncertainties of the eurozone crisis, the ability of core insurance platforms to support product introduction, regional expansion, and process optimization will be critical. However, given that the choice of core administration platform can play a pivotal role in an insurer’s business effectiveness for 10 to 20 years, platform replacement is probably one of the most crucial technology decisions an insurer can make.

Features and Benefits

  • Provides a detailed methodology for evaluating P&C insurance platform vendors serving the European market.

  • Provides a detailed assessment of eight leading platform vendors serving the European P&C insurance sector.

  • Helps P&C insurers identify potential platform vendors for their business.

Key Questions Answered

  • What are the key criteria that P&C insurers need to assess when selecting a core processing platform?

  • Who are the key core platform vendors serving the European P&C insurance market?

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