Latin American Policy Administration Systems 2013: General Insurance ABCD Vendor View
In the last few years, the vendor landscape for policy administration systems in Latin America has changed significantly. It has moved from a market largely served by local and regional vendors, with most of their customers (96%) in the region, to a more global playing field.
In the report Latin American Policy Administration Systems 2013: General Insurance 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.
Vendors serving the Latin American market currently have 50% of their customers outside of Latin America. The market shift is mostly explained by the fact that almost 75% of the solutions described in this report were not present in the region five to seven years ago, but have a significant presence in other geographies such as North America, Europe, or Asia-Pacific.
“While growth is the main driver of core systems replacement, efficiency gains are still high on insurers’ priority lists, as there are many areas for improvement—mainly as the result of existing inflexible systems,” says Juan Mazzini, Senior Analyst with Celent’s Insurance Group and author of the report.
This report profiles 20 policy administration systems in use for general insurance 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 184-page report contains 11 figures and 89 tables.