North American Policy Administration Systems 2013: Personal, Commercial, and Specialty ABCD Vendor View

by Donald Light,  Michael Fitzgerald, November 19, 2013
Vendor Reviews
North America

Abstract

Celent provides a detailed look at 42 policy administration systems for North American personal, commercial, and specialty insurance products.

In North American Policy Administration Systems 2013: Personal, Commercial, and Specialty ABCD Vendor View, Celent looks at policy administration systems available to insurers in North America. The report is part of a series on policy administration systems (PAS) in North America, EMEA, and Asia.

“This report is intended to help insurers compare policy administration vendors on a wide range of factors. Insurers can evaluate a vendor relative to their IT strategy by looking at critical factors, such as the availability of certain technical or functional features and customer feedback on system implementation and integration,” says Mike Fitzgerald, Senior Analyst with Celent’s Insurance Group and coauthor of the report.

“Large transformation projects are always somewhat risky and difficult, even under the best circumstances,” adds Donald Light, P&C Research Director with Celent’s Insurance Group and coauthor of the report. “Given the variation in insurance business models and products, there is no one right answer for policy administration for all carriers, and insurers need to have a clear view of all the dimensions of a given system to make an intelligent selection decision.”

This report features Celent’s ABCD Vendor View. The ABCD Vendor View presents comparative views of the vendor marketplace in four areas: Advanced technology and technical flexibility, Breadth of functionality, Customer base, and Depth of client services and solutions. The report also describes the core processes in a modern policy administration system, as well as the supporting capabilities and additional point solutions provided by vendors.

The report is more than 200 pages and contains 30 figures and 160 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

5

Report Methodology

8

Celent’s ABCD Vendor View and XCelent Awards

9

About the Profiles

12

Full Profiles

13

Accenture: Accenture Duck Creek Policy

14

Adaptik Corporation: PolicyWriter

21

CGI Group: PolicyWriter

27

Cover-All Technologies; Cover-All Policy

33

CSC: Exceed Policy

40

CSC: Point In

46

DAVID Corporation: NavRisk Policy

52

Decision Research Corporation: DecisionMaker Suite

59

Exigen Insurance Solutions: PolicyCore

65

Focus Technologies: PolicyPort

72

Guidewire Software, Inc.: Policycenter

77

Innovation Group: Insurer Policy

84

Insurance Systems, Inc: ISI Enterprise

91

Insuresoft: Diamond

97

Insurity, Inc.: Policy Decisions

103

ISCS: SurePower Innovation

110

MajescoMastek: STG Policy

117

Maple Technologies LLC: Aspire Information System

124

Maximum Processing, Inc.; The Stingray System

130

Oceanwide: Bridge Policy Administration

136

OneShield: OneShield Dragon Policy Management

143

PCMS: Atlas

150

SpeedBuilder Systems, Inc.: BindExpress Policy Suite

156

StoneRiver: Policy STAR

163

StoneRiver: PowerSuite

170

Tritech Financial Systems: General Insurance Management System

176

Unirisx; Unirisx Insurance Solution

182

Xuber: Genius

189

Limited Profiles

195

Agile Financial Technologies: Agilis General Insurance

196

Comtec: SmartRater

198

Decision Research Corporation: GameChanger Suite

200

IDMI Systems; IDMI Systems PTS

202

Insurance Global Operations: IGO6

204

PCIS: CompVision

206

Quindell Portfolio PLC: Challenger Ice Policy

208

SAP AG: SAP Policy Management

210

Silvermoon Business Systems: The Silvermoon Lunos Enterprise Suite

212

SimpleSolve: SimpleInsure

214

Tata Consulting Services: TCS BaNCS

216

Tropics Software Technologies, Inc.: Tropics Breeze

219

Xuber; Xuber For Insurers

221

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