Forrester, an influential research and advisory firm, released “The Forrester Wave™: Digital Insurance Agency Platforms, Q1 2022" report identifying the most significant insurance agency platforms.
Earlier this week, Forrester, an influential research and advisory firm, released “The Forrester Wave™: Digital Insurance Agency Platforms, Q1 2022" report.
The report identified the 11 most significant insurance agency platforms—Applied Systems, Ebix, Equisoft, HawkSoft, Insly, iPipeline, Vertafore (AMS360), Vertafore (QQCatalyst), Vertafore (Sagitta), Veruna, and Zywave—and researched, analyzed and scored them. The report shows how each provider measures up and helps independent insurance agencies understand the value of each platform and which to implement at their agency based on size and functionality.
Insurance agents need modernized technology to avert disruptive threats. As a result, industry trends demand that digital insurance agency platform customers look for providers that help agents build differentiated digital capabilities, enhance the customer experience by allowing agents to serve customers on the go, and provide a 360-degree view of customers to drive engagement.
The report identified Applied Systems, Vertafore AMS360 and Zywave as “Leaders," iPipeline, Equisoft and Vertafore QQCatalyst as “Strong Performers," Vertafore Sagitta, HawkSoft, Ebix and Veruna as “Contenders," and Insly as a “Challenger." Read the full report here.
With the top score in the Current Offering category, Applied received the highest score possible in 17 criteria, including Product Vision, Execution Roadmap, Performance, Planned Enhancements, Revenue and Number of Customers.
“Applied has committed to investing in its people and technology to accelerate innovation, delivering more value to our customers through open, modern technology," said Taylor Rhodes, chief executive officer, Applied Systems. “We are proud to be recognized as a leader among digital agency platforms by Forrester and remain dedicated to enabling our customers to experience greater productivity, simplicity, intelligence and value through our products."
Zywave was also recognized as a leader among the providers included in the report, receiving the highest possible rating in 15 criteria.
"We are extremely pleased with how Zywave and our solutions are represented in The Forrester Wave report," said Eric Rentsch, Zywave senior vice president of product management. "Over the past few years, Zywave has made significant investments to expand our capabilities, both through acquisitions and through organic development within our platform. Through these efforts, Zywave offers a leading end-to-end solution that powers growth for all of the top insurance agencies."
“We are pleased to partner with industry-leading firms and proud of this recognition," Rentsch added. “As we continue to grow, we are looking forward to delivering even more to our customers."
“Today's independent agencies need to be able to choose a digital management platform that best fits their business model, lets them integrate seamlessly with other tech solutions, and connects them to their carrier partners and clients," said James Thom, senior vice president, chief product officer, Vertafore. “Product recognition by Forrester for AMS360, QQCatalyst and Sagitta reflects Vertafore's commitment to deliver solutions that enable agencies to focus on what matters most to their business and clients."
Will Jones is IA editor-in-chief.