Stand-Alone Billing System Vendors: North American Property and Casualty Market 2012

by Michael Fitzgerald, January 18, 2012
Vendor Reviews
North America

Abstract

The billing function in property/casualty carriers has transformed from a back office operation to a front office value proposition. Carriers are making significant investments in skills and technology to position billing as a critical customer service activity and as an opportunity to retain clients, but how are vendor systems responding to this new challenge?

A new report, Stand-Alone Billing System Vendors: North American Property and Casualty Market 2012, is intended to help insurers understand their vendor options for stand-alone billing systems and enable them to compile their own short lists of providers for additional investigation.

“Virtually all stand-alone billing systems include the basic features required for property/casualty insurers. However, not all have implemented the automation necessary to achieve best-in-class customer service,” says Mike Fitzgerald, Senior Analyst with Celent’s Insurance Group and author of the report. “Customer service tools are now a differentiator among billing solutions.”

This report features Celent’s ABCD Vendor View. The ABCD Vendor View presents a comparative view of the vendor marketplace that visually represents four elements: Advanced technology and technical flexibility, Breadth of functionality, Customer base, and Depth of client services and solutions.

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

3

Introduction

4

 

Trends in Stand-Alone Billing Automation

5

Report Methodology

7

 

Criteria for Inclusion

7

 

Evaluation Process

7

Celent’s ABCD Vendor View

10

 

The XCelent Awards

11

About the Profiles

13

CSC: Exceed Billing

14

Guidewire: Guidewire BillingCenter

19

MajescoMastek: STG Billing

24

SAP: Billing & Payments

29

StoneRiver: FAB Billing

34

SunGard: iWorks Premium Billing

39

Limited Profiles

44

Accenture/Duck Creek; Accenture/Duck Creek Billing

45

Comtec: TIS Billing

49

Exigen: Exigen Billing Core

53

Insuresoft: Diamond Billing

57

Insurity: Billing Decisions

61

OneShield: OneShield Dragon Billing

65

Oracle: Oracle Insurance Revenue Management and Billing

69

StoneRiver: Billing Stream

72

Leveraging Celent’s Expertise

76

 

Support for Financial Institutions

76

 

Support for Vendors

76

Related Celent Research

78

Sign in to download reports and access personalized information