2020 has not been an ordinary year for life insurance companies. Celent expects insurers will move many digitally sales oriented investments to the top of their investment list for 2021. When combined witht the need to be more virtual for customers and agents, life insurance investments in any new sales technology, such as illustrations, need to be smart with a goal of optimizing efficiency and opportunity for maximizing value. Celent's research into which vendors can meet these needs is imperative for anyone looking to buy a new illustration system.
Our report profiles 10 illustration systems in use by or being marketed for North American life, health, and annuities products. There are eight vendors that qualified for Celent’s ABCD rankings and another two that are profiled but not included in the ABCD analysis. Vendors that qualified are ranked in the ABCD Vendor View grids.
This is the first time Celent has evaluated illustration vendors with the ABCD analysis. Celent’s results do not consider the individual needs of an insurer, but instead use a rubric that we apply to all system types. Celent advises insurers to consider their own needs and not rely solely on the Celent's analysis to place vendors on a short list. We provide a list of questions to consider in the report when creating a short list.
