2015 Stand-Alone P&C Billing Solutions
Vendor Review — North America
The property & casualty billing function continues to transition from its traditional role as the most “back office” of back office processes. Insurers realize the strong role that billing plays in financial operations and in building relationships with customers and distributors.
Unlike previous market scans by Celent, this iteration documents a reduction in the number of stand-alone implementations.
“Insurers understand that their legacy billing systems will not meet the challenge of higher service expectations from today’s consumers, business customers, and especially distribution partners,” says senior analyst Mike Fitzgerald. “Efforts to improve the customer experience in insurers often have billing as a key focus area. Sometimes this is addressed with a stand-alone solution and, increasingly, smaller insurers are looking for a suite solution that combines policy with billing.”
The report reviews eight vendors and includes data on overall functionality, customer base, lines of business supported, technology used, implementation, pricing, and support. Four solutions qualified for full profiles which include a Celent opinion of the solution, in addition to customer reference information.