Claims System Vendors: North American P/C Insurance 2011

Abstract

Who are the leading claims system vendors in 2011: in technology, functionality, customers, and service? This report, with XCelent Awards, provides the answers.

In a new report, Claims System Vendors: North American P/C Insurance 2011, Celent looks at 22 core claims solutions. Sixteen have full profiles, and are ranked in the ABCD Vendor View grids. Six have shorter profiles and are not ranked. The report also has the first four claims systems XCelent Awards for Technology, Functionality, Customer Base, and Service.

In addition to the awards and the solution profiles the report describes the basic claims lifecycle and supporting functionality (as shown below); as well as 15 examples of indicative advanced functionality.

The report also discusses trends and predictions for claim systems.

“Since the publication of the first Celent Claims Vendor report in 2004, the replacement of legacy claims systems is proceeding at a substantial pace,” said Donald Light, Senior Analyst with Celent’s Insurance Group and author of the report. “An insurer considering a new core claims system today has many strong and attractive choices. This report provides a starting point for identifying those solutions that merit closer looks.”

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America (New York)
Dana Greenstein
dgreenstein@celent.com
Tel.: +1 646 364 8254

Europe (Stockholm)
Nick Bockh
nbockh@celent.com
Tel.: +46.8.650.4401

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81.3500.3023