Gartner Research

Market Trends: SaaS in the Insurance Industry

Published: 14 November 2011

ID: G00217541

Analyst(s): Steven Leigh , Derry Finkeldey

Summary

Insurers are turning to software as a service for primarily horizontal applications to benefit from shorter implementation times and faster time to achieve benefits.

Table Of Contents
  • Overview

Trends in the Market

  • Insurers Turning to SaaS to Reduce Time to Implementation
  • Insurers Turning to SaaS to Achieve Standardization
  • New Insurance Market Models Demonstrate Cultural Shift to a Variable-Cost Model for Specific Niche Markets
  • Insurers Attracted by Lower TCO
  • Insurers Still Predominantly Choosing SaaS for Noncore Applications

Market: Subtle Shift Has Already Occurred

  • The Leading Inhibitor to SaaS Adoption Is Satisfaction
  • Keys to SaaS Adoption Are Speed to Implement and Reduced TCO Compared With On-Premises Software
  • Most Common Use Is for Horizontal Applications, but Demand for Vertical Applications Is Growing

Buyers: Business Getting Involved and Strengthens the Case for Strong Domain Expertise

Contrarian View: If They Can't Simplify and Secure

Vendors to Watch

Conclusions

Recommended Reading

©2019 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner is a registered trademark of Gartner, Inc. and its affiliates. This publication may not be reproduced or distributed in any form without Gartner’s prior written permission. It consists of the opinions of Gartner’s research organization, which should not be construed as statements of fact. While the information contained in this publication has been obtained from sources believed to be reliable, Gartner disclaims all warranties as to the accuracy, completeness or adequacy of such information. Although Gartner research may address legal and financial issues, Gartner does not provide legal or investment advice and its research should not be construed or used as such. Your access and use of this publication are governed by Gartner’s Usage Policy. Gartner prides itself on its reputation for independence and objectivity. Its research is produced independently by its research organization without input or influence from any third party. For further information, see Guiding Principles on Independence and Objectivity.

Already have a Gartner Account?

Purchase this Document

To purchase this document, you will need to register or sign in above

Become a client

Learn how to access this content as a Gartner client.