NTT DATA Moves into Leader Category in Everest Group’s Application and Digital Services in L&A Insurance PEAK Matrix® Assessment 2023 Report
Company Also Recognized as a Star Performer, Signifying Year-to-Year Improvement in Market Impact and Overall Vision and Strategy
TOKYO – January 18, 2023 – NTT DATA, a global digital business and IT services leader, today announced Everest Group has named the company a Leader in its Application and Digital Services in Life and Annuity (L&A) Insurance PEAK Matrix® Assessment 2023 report. In the report, Everest Group also recognized NTT DATA as a Star Performer, a title conferred on providers that demonstrate the most improvement over time on the PEAK Matrix for insurance technology.
In the past year, NTT DATA improved its standing on the PEAK Matrix assessment from a Major Contender to a Leader, the report’s top category. Everest Group named the company a Star Performer based on its improved performance in insurance-related market impact metrics, such as revenue growth and new contract signings, and in vision and capability measures, which include innovation and investments in domain-specific technologies.
“The insurance market is evolving quickly, and providers are working diligently to transform their business models to digitize experiences, accelerate time to market and drive efficiencies,” said Kaz Nishihata, Senior Executive Vice President & Representative Director at NTT DATA Corporation,. “We believe being named a Leader in Everest Group’s insurance technology assessment shows NTT DATA has the skills, technology tools, and overall experience to help clients achieve their transformations.
Everest Group rated NTT DATA as having a high level of capability in each of the report’s nine business segments. The company earned its highest mark in the value it delivers in the market impact category. Everest Group also scored NTT DATA as being well above average in market adoption, portfolio mix, vision and strategy, scope of service offered, innovation and investments, and delivery footprint.
“Now more than ever, L&A Insurers need a nimble technology and services partner that can help them quickly adapt and scale with their customers and the industry,” said Rob Baughman, Senior Vice President, Financial Services and Insurance, NTT DATA Services. “This leader ranking recognizes the investments NTT DATA continues to make in our client’s digital transformation journeys to help position them to succeed in a rapidly evolving industry.”
In the report, Everest Group highlighted NTT DATA’s strengths in providing a scaled pool of skilled resources that maintain strong communication channels, program governance, and operational flexibility through engagements. The analyst firm also credited NTT DATA for its continued investments in providing end-to-end services for insurance functions, its focused investments into improving the agent/broker selling experience, and remote workforce enablement for Life & Annuity carriers.
“NTT DATA’s ability to scale regional talent base globally and strong understanding of domestic markets have helped to expand mindshare with Life & Annuity (L&A) insurers,” said Aaditya Jain, Vice President, Everest Group. “Continued investments to expand its Global Insurance Digital Platform (GIDP) offering to present a robust value-proposition that can cater to end-to-end IT services needs, and strong market recognition for its program management and engagement flexibility have pushed NTT DATA’s market positioning and helped them earn a Leader and a Star Performer recognition on Everest Group’s Application and Digital Services in Life and Annuity (L&A) Insurance PEAK Matrix® Assessment 2022.”
"This recognition evidences the value that we offer to life insurers in Europe and Latin America. The efforts and the innovation brought by our Global Insurance Digital Platform made great strides in helping our clients solve their biggest technological and business challenges," said Bruno Abril, Head of Insurance at NTT DATA EMEAL.
The Application and Digital Services in Life and Annuity (L&A) Insurance PEAK Matrix® Assessment 2023 evaluated 21 leading vendors. It is based on Everest Group’s annual RFI process for calendar year 2022, which includes interactions with service providers, client reference checks, and an in-depth analysis of the insurance IT services market.
For more information on this report, please visit NTT DATA's Insurance page.
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About NTT DATA
NTT DATA – a part of NTT Group – is a trusted global innovator of IT and business services headquartered in Tokyo. We help clients transform through consulting, industry solutions, business process services, IT modernization and managed services. NTT DATA enables clients, as well as society, to move confidently into the digital future. We are committed to our clients’ long-term success and combine global reach with local client attention to serve them in over 50 countries. Visit us at nttdata.com.