skip to main content
Close Icon We use cookies to improve your website experience.  To learn about our use of cookies and how you can manage your cookie settings, please see our Cookie Policy.  By continuing to use the website, you consent to our use of cookies.
Global Search Configuration


Ovum has undertaken independent research to understand the strategies being employed to deliver core processing modernization within the European insurance industry.


  • Core processing within many European insurers remains fragmented, inflexible, and an increasing restriction on organizational agility.

Features and Benefits

  • Evaluates to what extent current core processing environments are limiting growth for European insurers.
  • Assesses the effectiveness of modernization strategies being employed by European insurers.

Key questions answered

  • How are current platforms limiting insurers from achieving their strategic goals?
  • What strategies are carriers using to deliver core processing modernization?

Table of contents


  • In brief
  • Ovum view
  • Key messages

Market context

  • Transforming core processing is critical within a restructured insurance market
  • Many insurance sectors will see significant change in relative attractiveness
  • Some insurers risk becoming irrelevant to millennials
  • The pace of technology disruption is set to accelerate
  • New entrants pose a very real danger for the insurance industry

Market challenges

  • Many core processing environments remain fragmented
  • Many core processing platforms in use today are stopping carriers achieving their strategic goals
  • ­­­Many current core systems inhibit insurers' ability to efficiently accommodate regulatory change
  • The majority of core systems do not align with carriers' broader strategic goals
  • Core processing and digital channel integration is a key emerging priority
  • Failure to build a comprehensive business case is inhibiting significant transformation
  • Lack of budget is driven by more than tough market conditions
  • Flexibility is the primary criteria for assessing replacement platforms

Market outlook

  • Many carriers are only partially addressing the issue of legacy modernization
  • Software releases are a low-risk but limited means of adding new capability
  • Modernization through service enabling is becoming less viable
  • Many modernization initiatives only partially address the transformation needed
  • The slow migration to COTS places carriers at risk
  • European insurers are slow to adopt cloud-based core processing


  • Methodology
  • Breakdown of survey respondents
  • Further reading
  • Author

Recommended Articles


Have any questions? Speak to a Specialist

Europe, Middle East & Africa team - +44 (0) 207 017 7700

Asia-Pacific team - +61 (0)3 960 16700

US team - +1 646 957 8878

Email us at

You can also contact your named/allocated Client Services Executive using their direct dial.
PR enquiries - Call us at +44 788 597 5160 or email us at

Contact marketing -

Already an Ovum client? Login to the Knowledge Center now