Between 2002 and 2006, Celent anticipates that North American life/health insurance carriers will have spent US$350 million on policy administration systems (PAS).
In a new report, " ," Celent examines North American PAS market trends and profiles and compares 20 PAS offerings from 16 vendors, recommending four top choices of vendors for the life/health segment.
The report examines the business drivers behind PAS purchases, including the need for Web enablement, consolidation and integration, product development, and business process improvement.
"With prices low and system functionality more robust than ever, its a great time for carriers to look at replacing or augmenting their policy administration systems. However, they need to be cautious about selecting a system that meets their needs now and in the future" said Chad Hersh, a senior analyst in Celent痴 insurance practice and co-author of the report.
The 16 vendors profiled in this report include: Accenture, AdminServer, Amerillium, Bsolve, CGI (Flexinsure and GIOS), Consis, CSC (CyberLife, FutureFirst, and VANTAGE), Duck Creek, FiServ LIS,
Genelco, LIDP, NaviSys, Sherwood (Amarta LIFE and FrontTier Group), SolCorp, SunGard, and Tata.The 65-page report contains 6 figures and 23 tables.
A is available online.
of Celent Communications' Life/Health Insurance research service can download the report electronically by clicking on the icon to the left. Non-members should contact info@celent.com for more information.
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