Trends Report

How Forward-Thinking Insurers Modernize Systems To Win, Serve, And Retain Customers

Product And Distribution Innovation Drive New Modernization Paths

January 29th, 2015
Craig Le Clair, Vice President, Principal Analyst
Craig Le Clair Vice President, Principal Analyst
With contributors:
Oliwia Berdak , Ellen Carney , Elizabeth Cullen , Alex Cullen , Benjamin Ensor , Randy Heffner

Summary

New distribution models and accelerated product innovation are the primary disruptive elements facing insurers today. These directly pressure core business systems. Insurers that can modernize these systems will gain advantage over players that can't. But how should they proceed? Enterprise architects guiding these massive efforts face a range of choices and are unclear where to start, which core systems to attack first, what investment to make in third-party business apps, and, with all the hype, how aggressively to pursue the promise of agility in the cloud. To understand where the industry is, Forrester defined three paths of system modernization and describes the business drivers and the current technology management reality guiding which path a firm takes.

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