Capgemini announced that it has been named a Leader and Star Performer in Everest Group Life and Annuities (L&A) Insurance Application and Digital Services PEAK Matrix 2020 assessment. As a leader, Capgemini was recognized for its strong value proposition across the consult-to-operate spectrum, deep industry focus, wide breadth of capabilities, meaningful investments to meet digital priorities, success in driving insurers’ modernization agenda, comprehensive solutions portfolio, and broad partnership ecosystem. Capgemini earned the Star Performer2 designation due to its significant market growth, focused investments to augment data-driven digital services and consulting capabilities, and its ability to leverage DevOps on insurers’ modernization journeys.
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“Growth in investment income and the annuities business compensates for the lackluster life insurance segment; however, margin pressure remains a persistent issue. As a result, Life and Annuities (L&A) insurers face a triple mandate of achieving operational excellence; agility in launching new products/experiences; and cost reduction for managing closed book of business,” said Aaditya Jain, Practice Director, Everest Group. “Multiple new client wins in the L&A insurance space, driven by growth in its digital services portfolio; meaningful investments to augment its domain-centric consulting capabilities; and strong success proof points in accelerating insurers’ modernization journey, leveraging DevOps, have helped Capgemini strengthen its market positioning to a Leader and earn a Star Performer designation on the L&A Insurance Application and Digital Services PEAK Matrix Assessment 2020.”
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“Despite margin pressures, Life and Annuities insurers are optimistic about meeting evolving customer demands by investing in digital technologies to efficiently drive the next wave of growth. Capgemini’s strong growth in the L&A sector signifies that our mix of technology, partners, and innovation is resonating in the marketplace,” said Shane Cassidy, Managing Director of Insurance for Capgemini’s Financial Services. “With high cost pressures and regulatory requirements to always address, we’re finding that L&A insurers are looking to create a vibrant and efficient customer experience through the use of personalized analytics.”
Twenty service providers specific to their application and digital services portfolio for the global L&A insurance sector were analyzed in this evaluation. Additionally, the market impact was evaluated for each service provider.
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