New York City, New York — BriteCore, a leading provider of next-generation core platforms for P&C insurers, today announced that it has been recognized as a Challenger in the 2021 Gartner Magic Quadrant for P&C Core Platforms, North America.
BriteCore was evaluated in this Magic Quadrant based on its Ability to Execute and Completeness of Vision. Gartner defines vendors positioned as Challengers as “Each vendor offers cloud-based solutions with comprehensive core system capabilities that can be deployed rapidly. The breadth of their platform capabilities and LOB coverage is narrower than the Leaders, and all have been highly successful among Tier 4 and 5 North American insurers.”
“We are pleased that Gartner has recognized BriteCore as a Challenger for the fifth consecutive year – and we believe that it is a reflection of our continued focus on providing Tier 4 and Tier 5 insurers with a modern, cloud-native core platform that enables business growth and innovation,” said Ray Villeneuve, CEO, BriteCore. “Our recent capital infusion is fueling further investment in product innovation, LOB expansion, and enhanced service delivery capabilities that will accelerate our growth and momentum.”
In the report, which evaluates P&C core platform vendors based on their ability to execute and completeness of vision in order to help insurance CIOs who are responsible for financial services technology modernization and transformation make informed evaluations, Gartner says, “Overall, there has been an increase in full-suite implementations (policy, billing and claims) in 2020 over the prior years. This increase is greater for Tier 3 and below insurers, where CIOs have less complex IT environments and are looking for native and seamless integration between their core platform modules. They are also looking at these platforms as an end-to-end solution for their business processes, including policyholder and agent portals, data repositories, and BI/analytics.”*
To learn more about how P&C insurers grow their businesses, engage their customers, and pursue new market opportunities with BriteCore’s cloud-native P&C core platform, visit BriteCore.com.
*Gartner, “Magic Quadrant for P&C Core Platforms, North America,” Sham Gill and James Ingham, 14 September 2021. In 2019, this report was titled the ‘Magic Quadrant for P&C Insurance Core Platforms, North America”.
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BriteCore is a fully managed core platform for property and casualty insurers that supports digital transformation, emerging technologies, and new business models. Designed as a cloud-native solution, BriteCore is continually updated for functionality, maximum security, efficiency, and durability at scale. API integration capabilities provide access to third-party solutions, expanding on BriteCore’s foundational core, data, and digital offerings. Insurance carriers, MGAs, and InsurTechs partner with BriteCore to gain a competitive edge through efficient operations, compelling customer experiences, and speed to market.
For more information, please visit www.britecore.com.