Gartner Research

Product Needs of Digitalization Will Not Be Fulfilled by Your Life Insurance Policy Administration System

Published: 23 February 2016

ID: G00298118

Analyst(s): Laurie Shotton

Summary

Threats and opportunities from a digitally transforming insurance industry are creating a compelling driver to develop new product capabilities. Life insurance CIOs should ensure their policy administration systems support rapid, flexible product design, including IoT-enabled products.

Table Of Contents
  • Impacts

Analysis

Impacts and Recommendations

  • Demand for microsegmentation of products is causing life insurance CIOs to revisit their product management capabilities
  • The need for partner ecosystems within digital business is driving life insurance CIOs to extend the openness and adaptability of their core system architecture
  • The Internet of Things is forcing life insurance CIOs to expand their core system architecture with better integration and flexible product definition

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