Claims Systems Vendors: European General Insurance 2012

by Catherine Stagg-Macey,  Craig Beattie, September 28, 2012
Vendor Reviews
EMEA

Abstract

Core claims technology continues to be an area where insurers are upgrading and vendors are offering enhanced solutions. Today, more than ever before, insurers in Europe are able to take on large system replacement projects by focusing on a single core area such as claims.

In the report, Claims Systems Vendors: European General Insurance 2012, Celent profiles 18 policy administration systems vendors in Europe, with 10 full profiles and eight limited profiles. Only systems that have been deployed in Europe and have had at least one stand-alone claims system reference were eligible for a full profile. These criteria were designed to maximize the number of systems that can be reasonably expected to remain available (and viable) based on vendor size and strength, maturity of each product and its client base, and other important factors.

“Vendor investment in their solutions since Celent’s 2010 report is clear, and this is great news for buyers,” says Catherine Stagg-Macey, Senior Vice President with Celent’s Insurance Group and coauthor of the report. “This remains a highly competitive solution market.”

“The vendors in this report have achieved a strong baseline of good functionality and modern technology,” adds Craig Beattie, analyst with Celent’s Insurance Group and coauthor of the report. “Increasingly, vendors are looking at agility and changing management investments to meet customer needs and to differentiate their product offerings.”

Celent has developed a framework for evaluating vendors. This 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 (i.e., relative number of customers), and Depth of client services. The Celent Vendor View shows relative positions of each solution evaluated, and does not reflect an abstract evaluation. Each vendor solution is judged relative to the others in the group. The top performers in each of the ABCD dimensions receive a corresponding XCelent Award:

  • XCelent Technology for the leading Advanced Technology score
  • XCelent Functionality for the leading Breadth of Functionality score
  • XCelent Customer Base for the leading Customer Base score
  • XCelent Service for the Depth of Service score

In addition to providing profiles of 18 vendors, this report describes how replacing a legacy claims system with a modern one provides benefits that align with three key corporate strategies: growth, efficiency, and underwriting success.

This 98-page report contains nine figures and 46 tables.

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 (Boston)
Erica Ferguson
eferguson@celent.com
Tel.: +1 617 262 8225

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)208 870 7875

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81.3.3500.3023

Table of Contents

Executive Summary

1

Core Claims Systems: Definition and Functionality

2

 

Definition

2

 

Basic Functionality

2

 

Advanced Functionality

2

 

Additional Functionality

3

The Case to Replace: Aligning Claims with Corporate Strategies

4

 

Getting Bigger

4

 

Getting Leaner

4

 

Getting Smarter

4

Report Methodology

6

 

Eligibility for Inclusion

6

 

Evaluation Process

6

The XCelent Awards

7

 

XCelent Technology and XCelent Functionality

8

 

XCelent Customer Base and XCelent Service

8

About the Profiles

10

 

Hypothetical Insurers

10

 

Celent’s Tiers

10

Accenture: Accenture Claim Components

11

Comarch: Comarch Insurance Claims

19

FINEOS: FINEOS Claims

26

Guidewire: ClaimCenter

34

Innovation Group: Insurer Claims

42

Mphasis-Wiyde: Wynsure

49

Quindell: Challenger ICE Claims

57

Quinity: QIS Claims

64

RDT: Landscape

71

SAP AG: SAP Claims Management (SAP FS-CM)

77

Limited Profiles

84

 

Adacta: AdInsure

84

 

CCS: Roundcube

85

 

CSC: Graphtalk AIA

86

 

Diasoft: FLEXTERA Insurance

87

 

Fadata: Insis

88

 

SSP: SSP Select Claims

90

 

Tata Consultancy Services: TCS BaNCS

91

 

Xchanging: Claims.X

92

Concluding Thoughts

95

 

For Insurers

95

 

For Vendors

95

Leveraging Celent’s Expertise

97

 

Support for Financial Institutions

97

 

Support for Vendors

97

Related Celent Research

98

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