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  5. Data Vendors in Insurance: A Snapshot

Data Vendors in Insurance: A Snapshot

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8 February 2017
Nicolas Michellod
Craig Beattie
Mohammed Mahfuz

Abstract

This report provides a high‑level categorisation of IT vendors having an offering in the data space for insurers. It profiles 41 IT vendors and categorises them using six categories Celent has defined: data storage; data quality; reporting; data visualization; artificial intelligence; and advanced analytics.

Celent has released a new report titled Data Vendors in Insurance: A Snapshot. The report was written by Nicolas Michellod, Craig Beattie, and Mohammed Mahfuz, Analysts in Celent’s Insurance practice.

Data has become an important topic in insurance, and we have seen the emergence of many firms focusing on data-related technologies in the past few years. Following a screening of the vendor market, we have been able to identify a list of more than 150 vendors that are active in the data space today.

Celent has identified more than 150 vendors active in various data categories and serving financial services firms. This report profiles 41 vendors. Some vendors focus on specific data technology categories while others try to provide support in all range of technologies.

“It can be difficult for insurers to navigate the data vendor landscape because many new players are entering the market,” says Michellod, a Senior Analyst.

“Going forward we think we are going to see more vendors focusing on artificial intelligence to help insurers in various business domains but it seems currently there is traction in the customer engagement and interaction space, especially around robo advisors and chatbots,” says Beattie, a Senior Analyst.

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