This IDC study uses the IDC MarketScape model to provide an assessment of a number of providers participating in the worldwide insurance business consulting services market. The IDC MarketScape is an evaluation based on a comprehensive framework and a set of parameters that assesses providers relative to one another and to those factors expected to be most conducive to success in a given market during both the short term and the long term.
"To focus on sustainable, profitable growth, global insurers will need to confront multiple challenges — ranging from the perils of shifting from a product to the customer centric–profitability model to reengineering or rebuilding legacy applications and keeping healthy capital buffers to countering mounting insurance fraud — all while ensuring flexible strategies to keep them positioned to embrace growth prospects. Business consulting services that aid insurers and their intermediaries in consistently delivering on positive customer experiences and actively reengineering operations to cater to the 'segment of one' will be amply rewarded, as will their clients with loyal and connected customer advocates, sustained high performance, and corresponding profitable growth." — Cushing Anderson, vice president, Business Consulting Services, and Michael Versace, global research director, IDC Financial Insights