Systems Integrators in Life/Annuity: How Are They Used?
Celent has released a new report titled Systems Integrators in Life/Annuity: How Are They Used?The report was written by Tom Scales, a Research Director with Celent's Insurance practice.
Policy administration system implementations are complex, expensive, and time-consuming. This report delves into the use of systems integrators in the life/annuity space to help with these implementations.
The overall view of the use of systems integrators is fairly mixed. The trend in life/annuity is not as clear as it is in P&C/general, where systems integrators are heavily used. The actual experience of insurers queried is very positive, whether the systems integrator played a lead or a support role. Celent’s observation is that systems integrators will be used more heavily, because the vendors need to increase capacity and the insurers want to control costs.
“It is interesting to see the diverse opinions of those that participated in our research. Companies that used systems integrators are happy, but many insurers do not see the need,” Scales commented.
“As companies continue to manage costs, we project that systems integrators will become more ubiquitous. Our belief is the use may be much more targeted, to areas such as configuration and testing,” he added.