We are in a unique period where the convergence of aging legacy platforms, complex market dynamics, and a mature vendor landscape has made core systems transformation a top priority for insurance carriers of all sizes and profiles. PWC expects core system transformations will continue to be a top priority for insurers – regardless of size and product mix – in the coming year.
But at the same time, insurers are looking for more than just up-to-date systems. They also want digital and analytics platforms that can help them realize the full benefits of a core transformation. That’s one of three key trends that have been dominating our conversations with the industry recently. Let’s go over each of the three:
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