A step-change opportunity is within reach for multi-country insurance groups. Yet many remain constrained by fragmented legacy cores, country-specific product setups, and siloed operations that limit agility and dilute scale advantages. As cost pressures intensify and innovation expectations accelerate, insurers can no longer afford modernization efforts that stop at national borders. True value lies in harmonizing technology and operations across countries.

In this whitepaper, we explore how regional business harmonization combined with multi-country core modernization unlocks synergies that go far beyond IT efficiencies. Anchored in harmonized products, processes, and customer journeys, and enabled by a modern, multi-tenant insurance core platform, insurers can simultaneously reduce structural complexity, improve cost efficiency, and accelerate innovation.

Drawing on a six-country core transformation in Europe, we highlight the key success factors and define the essential requirements of a scalable, multi-country insurance core platform that balances standardization with local flexibility. In particular, we focus on:

• A compelling case for regional harmonization beyond isolated local modernization

• Harmonized products, processes, and governance to unlock cross-country synergies

• A multi-country, multi-tenant core platform that enables scale and data consistency

• Strong governance and change management to secure sustainable value realization