Gartner Research

How to Minimize Vendor Selection Risks for European Life Insurance Policy Administration Systems

Published: 09 March 2015

ID: G00273533

Analyst(s): Laurie Shotton


Selecting a life and pension system vendor is a high-risk undertaking for insurers. To minimize vendor selection risks, CIOs should employ a three-step process to segment vendors according to their capabilities and align those capabilities with the insurer's business and IT requirements.

Table Of Contents
  • Key Challenges



  • Best Practice No. 1: Work With Key Stakeholders to Develop a Comprehensive Set of Key Business and IT Requirements
  • Best Practice No. 2: Segment Vendors in the Market Into Three Categories
    • Local Champions
    • Expanding Vendors
    • Conservative Vendors
  • Best Practice No. 3: Align Insurer Requirements With Segmented Vendor Capabilities
  • Examples
    • Example 1: Insurer Seeking to Consolidate Legacy Platforms
    • Example 2: Pan-European Insurer Expanding Into Multiple Territories

Gartner Recommended Reading

©2021 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?

Become a client

Learn how to access this content as a Gartner client.