2018 AdvantageGo InsurTech Survey

According to a global survey of insurance and reinsurance executives carried out by AdvantageGo, upgrading insurance technology is the number one concern for industry leaders. The top five concerns of executives are:

1. Need to upgrade technology
2. Underwriting discipline
3. Regulation
4. Cybersecurity
5. Mergers and acquisitions

AdvantageGo, the innovative commercial insurance and reinsurance software company, surveyed 30 c-suite insurance and reinsurance professionals from London, Bermuda, North America and Switzerland. Three quarters (76%) of those surveyed were currently involved in data analytics and big data projects, and more than half were looking at projects involving machine learning (55%), artificial Intelligence (52%), and blockchain (52%).

Whether companies want to be ahead of the game or are simply anxious about being left behind, all sectors of the market are taking InsurTech seriously,” said Adrian Morgan, Executive Vice-President and Head of AdvantageGo. He further added, “The survey has highlighted a key dilemma with which the industry is currently grappling: on the one hand, there is an overwhelming recognition of the need to improve insurance technology, but on the other, there is a concern about the rate at which the industry, as a whole, is adopting InsurTech solutions.

Surveyed executives stated that when it comes to picking an InsurTech provider, the most important factor is demonstrable capability, followed by track record of successful delivery, customer-centric mind-set, industry knowledge, and ‘easy to do business’. These attributes are considered to be more important than the company being an InsurTech innovator.

Adrian said: “Our survey shows the value placed on partnering with proven providers that marry technological know-how with deep industry expertise.” Read Survey

About AdvantageGo

AdvantageGo is the innovative commercial insurance and reinsurance product family from Sapiens. It harnesses the power of proven, functionally-rich core solutions and augments it with the energy and culture of being an InsurTech leader. AdvantageGo enables insurers and reinsurers around the world to fuse the traditional with digital, helping them to rapidly adapt, drive change and succeed with agile software and Microservices.

AdvantageGo – revolutionising insurance software.

About Sapiens

Sapiens International Corporation (NASDAQ and TASE: SPNS) is a global leader in intelligent SaaS-based software solutions. With Sapiens’ robust platform, customer-driven partnerships, and rich ecosystem, insurers are empowered to future-proof their organizations with operational excellence in a rapidly changing marketplace. Our SaaS-based solutions help insurers harness the power of AI and advanced automation to support core solutions for property and casualty, workers’ compensation, and life insurance, including reinsurance, financial & compliance, data & analytics, digital, and decision management. Sapiens boasts a long-time global presence, serving over 600 customers in more than 30 countries with our innovative offerings. Recognized by industry experts and selected for the Microsoft Top 100 Partner program, Sapiens is committed to partnering with our customers for their entire transformation journey and is continuously innovating to ensure their success.    

For more information, please visit  https://sapiens.com