Deloitte recognized as Leader in Everest Group's Life & Annuity (L&A) Insurance IT Services PEAK Matrix® Assessment 2024

Report highlights Deloitte's significant investments made into building its own IP and industry-specific solutions.

NEW YORK, Sept. 5, 2024 /PRNewswire/ -- Deloitte has been positioned as a Leader in Everest Group's Life & Annuity (L&A) Insurance IT Services PEAK Matrix® Assessment 2024. Deloitte was one of only three service providers that have established strong credentials in assisting insurance carriers with comprehensive transformation needs and was positioned highest for Market Impact. Many leading organizations around the globe trust these comparative assessments because of their unbiased evaluation of factors such as vision, capabilities/functionality, talent availability, market success/impact, and cost.

"Life & Annuity carriers are navigating a complex business environment which requires multi-disciplinary IT capabilities. Deloitte's positioning as a Leader with the highest market impact in the Life and Annuity IT services provider market by Everest Group reaffirms Deloitte's excellence in delivering tailored IT capabilities to address a carrier's unique business expectations," says Santosh Kutty, Life and Annuity/Group Technology leader, Deloitte Consulting LLP. "We're proud of our L&A IT capabilities and curated technology ecosystem which enable our client's business transformation goals, and we are grateful for this acknowledgement."

As a Leader, Deloitte is part of a leading class cohort providing L&A insurance IT services as the industry grapples with "aging legacy systems, changes in regulatory compliance, and evolving market dynamics," according to Everest Group. Deloitte's well-rounded portfolio of work is focused on delivering custom and third-party platform-based solutions that guide clients to excel in areas like pension risk transfer (PRT), retirement and pension omnichannel experience management, L&A distribution channel digitization, and life or group benefits modernization.

"We appreciate that Everest Group provides a specific Life & Annuity Insurance focus and Deloitte's highest Market Impact rating is also a credit to our clients and technology platform collaborators," says Doug Welch, Life Annuity Market lead, Deloitte Consulting LLP. "We plan to continue combining deep technology skills with the deep domain knowledge, differentiated talent model, significant investments in industry-specific solutions which has been proven to best assist our clients."

Everest Group's report also recognized Deloitte as the only Leader that ranked high overall in both market impact and vision capability, which accounts for influence over market adoption, portfolio mix, value delivered, vision and strategy, scope of services offered, innovation and investments, and delivery footprint.

The report evaluated 24 leading services providers, providing a comprehensive profile of service focus, key IP or solutions, domain investments, and case studies. The assessment itself is based on Everest Group's annual Request for Information (RFI) process for calendar year 2024, interactions with Life & Annuity Insurance IT service providers, client reference checks, and an ongoing analysis of the L&A Insurance IT services market.

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SOURCE Deloitte Global