Insurance Core System Evaluation

Insurance core systems are going through a revolution. Technology is becoming more agile and modular and new forms of vendor-insurer relations have emerged. A newly crowded market offers great potential but also increasing risks of a mismatch between vendor capabilities and technology with insurer’s requirements and strategic goals.

Are you asking yourself

What are best practices for planning, managing and executing a software vendor assessment?
How can we structure our vendor and system integrator evaluation?
Do you lack the internal experience and expertise to adequately assess and score vendors?
How do we ensure an objective evaluation process?
How can we ensure the strategic, functional and technological fit of our new core systems?

What you will get from us:

Strategy alignment with leadership across the value chain on key considerations for product, distribution, change, operations and technology
Mitigation of risks associated with selecting the wrong vendor and system integrator
Structured approach that focuses on the key functional and technical considerations for your organization
Neutral third-party selection processes that utilizes a set of scoring methodology and tools that reduce risks and enhance controls

Our Approach

Understanding Business and Objectives

Understanding your strategic direction is a critical success factor. The initial week helps us to better understand your needs and shape the approach to meet your requirements.
Defining Vision for Future Business Architecture

The business vision workshops allow identification of differentiating criteria and set the basis for the future operations and vendor criteria.
Eliciting Business Requirements

Based on your own set of requirements, our Vendor Factsheets quickly allow identification of a possible shortlist to be verified with the core project team.
RFP Responses and Vendor Workshop

Through innovative hackathons, we verify not only the RfP responses, but assess the key differentiating factors, the mindset and, delivery capability of the vendor.
Final Selection Approach

After the final selection of the RfP winner, we help you to ramp up your delivery structure and to prepare your organization for the future challenges.

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