Gartner Research

Insurance CIOs: Consider New Platform Vendors, but Recognize the Real-World Costs and Risks

Published: 30 January 2019

ID: G00376297

Analyst(s): Sham Gill

Summary

New insurance core platform entrants promise reduced time to market and significantly lower costs, but the reality is more complex. CIOs should only consider these new players if they are prepared to rigorously evaluate the capabilities and viability of both the vendors and their offerings.

Table Of Contents
  • Impacts

Analysis

Impacts and Recommendations

  • The Need to Reduce Time to Market Is Pressuring Insurance CIOs to Consider New Core Platform Entrants, but Their Offerings May Not Deliver the Desired Results
  • CIOs May Find New Entrants’ Alternative Pricing Models Attractive at First, but Less So on Closer Inspection
  • Ongoing Obligations for Support, Maintenance and R&D Will Weaken the Case for New Entrants

Gartner 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?

Become a client