Claims System Spectrum: APAC P&C Insurance 2016
Celent has released a new report titled Claims System Vendors: APAC P&C Insurance 2016. The report was written by KyongSun Kong, an Analyst with Celent’s Insurance practice.
This report presents Celent’s 2016 survey and evaluation of core claims systems offered to APAC property & casualty insurers. The report profiles 10 vendors and how each core claims system gathers and processes information regarding the underlying policy and coverages, the claim, and the claimant.
The survey will show most vendors have the capability to deploy their solutions to the cloud.
“In APAC as well as in other regions, few carriers are doing nothing when it comes to claims. Many are engaged in some level of replacement of the claims admin system,” commented Kong.
“Reasons are plentiful. Legacy claims systems are aging, and they struggle to support claims of newer and more complex products. At the end of the day, legacy systems translate into adding more resources, both human and financial, to maintain those systems,” she added.