Leading global research firm – Everest Group® has positioned LTI in the Leader category of its Insurance Platforms IT Services PEAK Matrix Assessment for 2022. The recognition is based on assessments of the 20 leading IT services providers, client reference checks, and continuous analysis of the insurance IT services landscape.
Today, the insurance sector faces several impediments to growth given its heavy reliance on obsolete and legacy IT infrastructure, a significant talent shortage, and general resistance to change. This is further compounded by the customer demand for always-on, digital experiences driven by the pandemic. In a bid to meet customer expectations and stay ahead of the competition, insurers are embracing plug-and-play solutions and aggressively adopting third-party platforms for innovation, efficiency, and power superior customer experiences.
This Assessment compares the top 20 service providers for the insurance sector across the scope of platform consulting, implementation, upgrade and migration services, platform enhancement services, and maintenance and support services. Today, more insurance platform providers focus on a cloud-first strategy, API-enabled offerings, and building a modular IT architecture. They are driven by the need to expand existing partnerships, build accelerators to support on-time, on-budget implementation, set up CoEs, and speed up enterprise platform adoption.
“LTI has carved out a niche for itself as a specialist for assisting P&C insurers across core platform modernization engagements,” said Aaditya Jain, Practice Director, Everest Group. “Partnerships with the majority of leading core insurance platform providers such as Guidewire, Duck Creek, Majesco, and Insurity; meaningful investments to expand the domain advisory practice; and the ability to commit to specific business outcomes to ensure on-budget, on-time product implementations have helped LTI to be positioned as a Leader on Everest Group’s inaugural Insurance Platform IT Services PEAK Matrix® 2022.”
LTI’s Key Differentiators:
- Consultative domain-oriented approach: LTI’s strong domain knowledge combined with a consultative approach drives the successful execution of transformative programs.
- Speed-to-market and quality assurance: We continuously invest in new ways of working and building AI-driven CANVAS modern engineering platforms for faster time-to-market and insights-driven quality engineering for ~100% self-healing test automation.
- Engineering engagements with ISV Providers: LTI works with key ISV providers to engineer products and undertake joint implementation programs for the latest releases giving us unique expertise and early access to newer product features.
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