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Impact of Digital on Life, Annuities & Pensions Sector: 2019

Impact of Digital on Life, Annuities & Pensions Sector: 2019

Who Is This Report For?
NelsonHall’s “Impact of Digital on IT Services in Life, Annuities & Pensions Sector: 2019” report is a comprehensive market assessment report designed for:
• Sourcing managers investigating sourcing developments within the Life, Annuities & Pensions sector
• Vendor marketing, sales and business managers developing strategies to target IT services (ITS) opportunities within the Life, Annuities & Pensions sector
• Financial analysts and investors specializing in the IT services and BPS sector

Scope of the Report
The report is based on interviews with executives in the Life, Annuities & Pensions sector in the U.S., U.K., Continental Europe, and Asia Pacific.
The report analyzes the worldwide market for IT services within the Life, Annuities & Pensions sector and addresses the following questions:
• What are the principal business priorities faced by organizations in the Life, Annuities & Pensions sector?
• What IT initiatives are planned by organizations in the Life, Annuities & Pensions sector?
• How relevant are digital initiatives to organizations in the Life, Annuities & Pensions sector?
• What digital initiatives are planned by organizations in the Life, Annuities & Pensions sector?
• What business areas are targeted for digital initiatives by organizations in the Life, Annuities & Pensions sector?
• What digital technologies are planned to be introduced by organizations in the Life, Annuities & Pensions sector?
• What are the key selection criteria used by organizations in the Life, Annuities & Pensions sector to select suppliers to implement digital initiatives?
• What shifts in sourcing approach are expected by executives in the Life, Annuities & Pensions sector over the next three years?
• How do companies in the Life, Annuities & Pensions sector expect their spend on ITS services to change over the next three years?

Key Issues & Highlights
The principal focus for life, annuities and pensions companies is attracting and retaining customers, through accelerated services and improved customer service. Two major business priorities to drive customer experience identified unprompted by life, annuities and pensions companies were:
• Improving customer service through expanded use of mobile and chatbots
• Accelerating service delivery, particularly in areas such as underwriting and claims management.
Accordingly, life, annuities and pensions companies are:
• Identifying and pursuing digital initiatives to improve customer experience and accelerate service delivery
• Adopting DevOps and digitalizing applications landscapes to accelerate time to market and reduce IT service costs
• Prioritizing the engagement of vendors with agile development skills and UX consulting and design capabilities to implement cloud and SaaS solutions.


1. Introduction
2. Executive Summary
3. Market Forecast
4. Key Business and IT Issues and Initiatives
5. Digital Initiatives
6. Changes in Spend

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