SaaS or Software-as-a-Service is a way of delivering software over the Internet in a rapid, self-service way. An insurer accesses the software via the web instead of installing and maintaining it on-premise, hence removing the burden of software and hardware management. Celent has defined a SaaS capability framework based on eight dimensions:
How SaaSy are insurance systems based on Celent's SaaS capability framework dimensions? This report details whether and how insurance systems offered on the market today meet the Celent SaaS capability dimensions. The following system types are included in our analysis:
- Health policy administration
- P&C policy administration
- Life new business and underwriting
- Distribution management
- Claims fraud detection
- Life insurance distribution point-of-sale (POS) platforms
