RGI Group has been positively mentioned in a new Gartner’s analysis published last July 21st, “Market guide for European Non-Life Insurance Policy Administration Systems”.
Gartner states that the market for European non-life insurance policy administration systems is a collection of regional submarkets. Gartner is aware of more than 50 providers of non-life insurance policy administration systems (most of them headquartered in Europe) that are currently competing in this segment. Gartner estimates that half of these companies have less than 250 employees, and 58% of the vendors have annual revenue of less than €50 millions.
In this study Gartner conducted an online survey on 34 non-life PAS (Policy Administration System) vendors and RGI was ranked 1st both for the total number of European clients (62 clients as European installed base compared with an average of 15 installations/vendor) and for the new European clients wins in 2013 (6 new clients compared with an average of less than 2 new customers per vendor).
It is interesting to underline that fifty percent of the providers added only one or two new clients in 2013 while 24% of the vendors added no new customers to their client bases last year. 95% of the installed bases of the vendors are Tier 2 and Tier 3 insurers, which accurately reflects the overall insurance market structure in Europe, with more than 80% of all insurers being small and midsize organizations.
Together, the vendors in this Market Guide have more than 730 customers. Based on this number, Gartner estimates that less than 30% of all European non-life insurers have deployed packaged policy administration systems.
This analysis definitely confirms the leading position of RGI Group as the most innovative and steady ISV in the European scenario.