The specialty insurance market is projected to expand to USD 178 Billion by 2030, driven mainly by the adoption of digital insurance platforms. With cutting-edge technologies such as artificial intelligence, machine learning and analytics at the forefront of this digital transformation, specialty insurers are increasingly turning to digital platforms to streamline their operations and adapt to evolving market demands.

The advantages of digitisation and automation are manifold, ranging from improved operational efficiency to enhanced customer experiences. However, the process of selecting a digital platform can be overwhelming, particularly for those unfamiliar with the intricacies involved.

The paper provides guidance on how specialty insurers should approach digital platform implementation projects. It outlines the typical approach that digital platform vendors adopt and offers recommendations based on specific insights into key areas and phases, including:

• Business and Technical Design
• Data Migration
• System Integrations
• Variations in Operations
• Development Schedule
• Build Approach
• Local Configuration Approach
• Testing
• Blueprint Two Solutions