Latin American Policy Administration Systems 2012: Life, Annuities, and Health ABCD Vendor View

by Juan Mazzini, October 11, 2012
Vendor Reviews
Latin America

Abstract

In the past few years, the vendor landscape for policy administration systems in Latin America has changed significantly, moving from a market mostly served by local and regional vendors to a more global one. Two-thirds of the solutions available in Latin America were not present in the region a few years ago.

In the report Latin American Policy Administration Systems 2012: Life, Annuities and Health ABCD Vendor View, Celent looks at policy administration systems available to insurers in Latin America. The report is part of a series on policy administration systems (PAS) in Latin America, North America, EMEA, and Asia.

“Core systems replacement in Latin America is mainly driven by a competitive market and the need to make the most efficient use of distribution channels,” says Juan Mazzini, Senior Analyst from Celent’s Insurance Group and author of the report. “We will continue to see many insurers reviewing their core systems in the coming years as policy administration systems solutions mature and the insurance market gets even more competitive.”

This report profiles 15 policy administration systems in use for life, health, and annuities products. It names the winners of the XCelent Awards using Celent’s ABCD Vendor View, which is our 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. The report also describes the core processes in a modern policy administration system, as well as the supporting capabilities and technology of vendor solutions.

This 111-page report contains seven figures and 66 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)
Tylor Tourville
ttourville@celent.com
Tel.: +1 617 424 3284

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

Introduction

2

Policy Administration Systems: Definition and Functionality

4

 

Definition

4

 

Core Processes

4

 

Supporting Capabilities

5

 

Advanced Functionality

6

Report Methodology

8

 

Criteria for Inclusion

8

 

Evaluation Process

9

Celent’s ABCD Vendor View

11

 

The XCelent Awards

11

 

XCelent Technology and XCelent Functionality

12

 

XCelent Customer Base and XCelent Service

12

About the Profiles

14

An Overview of the Solution Spectrum

15

 

Customer Base

15

 

Insurance Features and Lines of Business

16

 

Scalability

18

The Vendors

21

Consis International: Acsel-e

22

CSC: GraphTalk A.I.A

27

CSC: Integral Life

32

eBaoTech Corporation; eBaoTech Lifesystem

38

InMotion GIT:VisualTIME

43

i4PRO Informática LTDA: i4PRO ERP

49

Indra: iONE

54

SAP: SAP Policy Management

59

SISTRAN: SISE

64

Entrants

69

Accenture; Accenture Life Insurance Platform (ALIP)

70

Diasoft; FLEXTERA Insurance

75

Fadata: INSIS

80

I2S Informática - Sistemas e Serviços SA: Global

Insurance Solution (GIS) 

84

Oracle: Oracle Insurance Policy Administration for Life and Annuity

88

TIA Technology: The TIA Solution

93

Comparative Tables

99

Concluding Thoughts

102

 

For Insurers

102

 

For Vendors

102

Leveraging Celent’s Expertise

104

 

Support for Financial Institutions

104

 

Support for Vendors

104

Related Celent Research

105

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