Infosys McCamish Recognized as a Leader in ISG Provider Lens™ 2024 Insurance Platform Solutions Report for Life and Retirement (L&R) Insurance Platform Solutions in North America
Industry experts anticipate that Life and Retirement (L&R) carriers will face a decade of constant and rapid innovation. This will require them to remain agile and embrace change to stay competitive and relevant in the market. Many L&R insurers are transforming digitally by integrating new technologies with legacy systems via APIs, introducing new services, experiences, and process automation. In North America, insurers are increasingly turning to microservices to modularize core systems and processes. This allows for greater customization of products and wider distribution channel access, ultimately driving business growth.
A modern, robust, scalable, and componentized core system technology is critical for insurers to thrive. Those who use it effectively will gain a competitive advantage, while those who do not may risk falling behind. Staying up to date with the latest advancements is essential for improving operations policyholders experience (PX) and sustainably driving growth.
In this space, Infosys McCamish has been recognized as a Leader in the ISG Provider Lens™ 2024 Insurance Platform Solutions Report for Life and Retirement (L&R) Insurance Platform Solutions. The report assesses the current market positioning of providers offering L&R policy administration systems in North America based on the depth of their solution offerings and market presence.
The report highlighted Infosys McCamish’s following strengths:
- One platform for all products: The VPAS® platform provides comprehensive support for various financial products, including term life, traditional life, universal life, deferred annuities, immediate annuities, disability income and health protection.
- Configuration flexibility and operational ease: VPAS® is a flexible and scalable solution for configuring reusable business rules and objects. Its service-oriented architecture integrates plug-and-play components that are easily replaceable or can be integrated with client-supplied software components.
- De-risking platform consolidation: L&R insurers undertake a strategic effort to streamline their operations by consolidating multiple platforms, mitigating their exposure to aging infrastructure and simplifying enterprise integrations. Infosys McCamish achieves this through specialized processes and tools that enable it to rapidly and cost-effectively convert data from legacy systems.
“Infosys McCamish uses VPAS®, a comprehensive policy administration platform, plus its insurance domain expertise and a world-class data center to deliver on L&R insurers’ business goals.”
- Ashish Jhajharia, Lead Author
To read the full report, please click here
For more information on Infosys McCamish’s offerings, please click here
