Gartner’s Jeff Haner analyzes the impact of insurtechs on P&C core platforms. Instead of the former supplanting the latter, he suggests a symbiotic relationship.
“Leading P&C core platform vendors are now actively recruiting insurtechs as ecosystem partners, integrating them with their core platforms, and providing venues (such as accelerator libraries or app stores) to make insurtech offerings available to their customers. This is giving insurance leaders who want to pursue new business models and emerging technologies an easier means of identifying and deploying new capabilities. As a growing number of core platforms are being deployed to the cloud, some vendors are beginning to offer managed integrations in which the vendor shoulders the burden of maintaining these integrations and to ensure they stay intact through ongoing maintenance and upgrades.” –Jeff Haner, Research Director, Gartner Global Insurance Industry Research