London, United Kingdom
19 June 2007 European
Policy Administration Systems 2007: General Insurance Vendors
Report Published by Celent
Detailed profiles and comparisons of 14
vendors and limited profiles of an additional 20 vendors reveal policy
administration systems are becoming cheaper, more flexible, and
increasingly offered with .NET.
There are a wide range of choices of policy
administration systems among both established vendors and entrants. This
market is changing due to consolidation among European vendors. One
notable example, the acquisition of Sirius Financial Services by Software
Solutions Partners, will change the UK vendor landscape for both brokers
and insurers. Celent expects this evolution will continue as a result of
the injection of private equity, initial public offerings, and more
acquisitions, according to a new report, European Policy Administration
Systems 2007: General Insurance Vendors, Celent’s second report on
the European vendor landscape for general insurers.
“As prices drop, implementations become
quicker, and vendor options become more plentiful, now is indeed a very
interesting time for general insurers to be considering a new policy
administration system,” says Catherine
Stagg-Macey, senior analyst in Celent's insurance practice and author
of the report.
Entrants offer more flexible pricing
models, moving away from per module/user to the number of policies
processed or a percentage of the premium. Technical flexibility has
increased. Solutions offer multiple integration options and many operate
on more than one platform. More .NET offerings are available in 2007 than
there were in 2005, reflecting the general market acceptance of both
technologies.
Celent’s new report is designed to help
insurers understand this marketplace. The report contains detailed
profiles of 14 policy administration systems and limited profiles of 20
additional systems. The report uses Celent’s ABCD Vendor View,
which is a standard representation of a vendor marketplace designed to
show at a glance the relative positions of each vendor in four categories:
Advanced technology, Breadth of functionality, Customer base, and Depth of
client services. Unlike a simple “four-quadrant” map, solutions in the
upper right are not necessarily the best solutions—in an area as complex
and idiosyncratic as policy admin, there is no one “best” for all
cases. Insurers should consider which factors in breadth, technology,
experience, and client service are most important to them and use the
profiles and comparative tables in this report to generate their own
shortlists. Only fully profiled vendors are included in the ABCD Vendor
View.
The vendors with full profiles are 3i
Infotech, Accenture, ALICE, Anodas, Fadata,
IDIT, ITN, RDT, Sapiens, Sirius, Software
Solution Providers, Innovation Group, TIA Systems, and
Xchanging.
Vendors with limited profiles are CSC,
Duck Creek, eBaoTech, Ebix, FIS Software, Genasys,
Guidewire, Harlosh, ITN, Javision, Open
Square, Room Solutions, SAP, Software Solution
Partners, and Tata Consultancy Services.
The 114-page report contains five figures
and 74 tables. A table of contents is
available online.
|
