Methodology
Industry players are experiencing pressure as a result of stringent regulations and policies, industry consolidation, and consumer desires for new platforms. Financial services are revamping their offerings and processes around digital banking and payments transformation, realizing a need for open platforms and APIs. Making decisions regarding technology, sourcing and transformation in a dynamic and complex environment is challenging and can produce misalignment with overall business strategy.
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Moda delivers strategic, long-term solutions for our clients to respond to technology shifts while remaining competitive and profitable. We blend our extensive industry experience with finely honed consulting expertise as our clients navigate the ever-changing economic and business landscape. Our recommendations are centered on transforming to digital platforms, managing regulatory compliance and risk, improving vendor management, and enhancing their customers’ user experience. Avasant believes innovation-drive approaches are imperative for financial services firms to ensure optimum ROI and stay ahead of the technology curve.
Banking, Insurance & Financial Services Consulting
The adoption of new digital technologies in the financial services sector is fueling fierce competition, prompting changes to both internal infrastructure and consumer delivery models.
Generative AI Strategy, Spending, and Adoption Metrics
This chapter provides generative AI metrics for the banking, financial services, and insurance (BFSI) sector. It features a sample of 34 such firms, ranging from commercial and investment banks to brokerages, financial advisors, and wealth management firms. They also include regional and national insurance including health insurance and property and casualty. It includes metrics on how much enterprises are spending on generative AI, where they are spending it, and how they are governing it.
Property and Casualty Insurance Management Software
The insights and analysis presented are based on our ongoing interactions with senior executives, vendors, subject matter experts, and Moda Fellows, along with lessons learned from consulting engagements.
Our evaluation of vendors is based on public disclosures, case studies, product sheets, executive interviews, and our ongoing market interactions. The assessment is for the capabilities of implementing P&C insurance management software across enterprises, leading to our recognition of a vendor that has brought the most value to the market.
