ISG Provider Lens™ Insurance Platform Solutions Quadrant Report 2024
In this quadrant, ISG assesses the ability of platform vendors to support insurance companies in several areas, including operational efficiency, customer engagement and agility and evaluates the current market positioning of vendors offering L&R PAS in Europe based on the depth of their solution offerings and market presence.
ISG Provider Lens™ quadrants evaluation matrix
The ISG Provider Lens™ quadrants are created using an evaluation matrix containing four segments (Leader, Product & Market Challenger and Contender), and the providers are positioned accordingly.
Leaders have a comprehensive product and service offering, a strong market presence and established competitive position. The product portfolios and competitive strategies of Leaders are strongly positioned to win business in the markets covered by the study. The Leaders also represent innovative strength and competitive stability.
MSG.INSURANCE SUITE (LIFE)
ISG defines platforms as networked systems that enable users to access policy administration systems (PAS) and insurance services, data and related capabilities. The most modern insurance PAS platforms are API-enabled, SaaS or web-based applications hosted in a cloud environment.
Cloud and security compliance:
The msg.Life Factory platform has been designed to adhere to the on-premise and cloud security and data protection standards and comply with all pertinent legal requirements. The msg.Insurance Suite (Life) expansion streamlines life insurance operations, ensuring maximum efficiency and minimal disruption.
SaaS Solution approach:
Leveraging the SaaS platform msg life can seamlessly migrate insurers’ core systems and applications to the cloud, empowering insurance clients to accelerate their transformation journey and enabling them to deliver insurance products at scale in an era of rapid, customer-centric innovation and growth.
Covers all L&R business processes for digitalization:
msg life offers a comprehensive solution for L&R insurers by providing sample content for all popular L&R products and processes. This enables organizations to streamline operations, optimize workflows, and reduce inefficiencies across their product models.
AI supported business and migration processes:
Adopting latest AI Technology for business and migration processes, such as msg life’s cloud-based SaaS solution, can effectively expedite and reduce migration costs, thereby facilitating a seamless and cost-effective transition to modern systems.
A single cloud platform for next-generation insurance
The end-to-end SaaS platform msg.Insurance Suite has the power and flexibility to prepare your business for tomorrow’s demands.
Rapid IT Modernisation
Back in 1980, when most things were still on paper, msg insur:it was already a pioneer in the digitalization of the insurance industry. 40 years later, we are still leading the way in innovation: msg insur:it is a leading provider of advanced AI solutions for the insurance industry.
But what really separates us from our competitors is our deep understanding of the insurance business – knowledge that can only be acquired from our decades of experience. With our staff of over 2000 IT experts, consultants and actuaries in offices around the world, the biggest names in insurance trust us to manage their complex insurance IT challenges. This includes full migration of core systems and policies.
