European Claims Vendors in 2010
Core claims technology continues to be an area where insurers are upgrading and vendors are offering enhanced solutions. Today, more than ever before, insurers in Europe are able to take on large system replacement projects by focusing on a single core area such as claims.
A new report from Celent, European Claims Vendors in 2010, profiles 21 claim system vendors in Europe, with 11 full profiles and 10 limited profiles. Only systems that have been deployed in Europe and have had at least one reference were eligible for a full profile. These criteria were designed to maximize the number of systems that can be reasonably expected to remain available (and viable) based on vendor size and strength, maturity of each product and its client base, and other important factors.
This report features Celent’s ABCD Vendor View. The ABCD Vendor View presents a comparative view of the vendor marketplace that visually represents four elements: Advanced technology and technical flexibility, Breadth of functionality, Customer base, and Depth of client services and solutions.
The report also describes how replacing a legacy claim system with a modern one provides benefits that align with three key corporate strategies: growth, efficiency, and underwriting success.
“There is no single best claims solution for all insurers,” says Catherine Stagg-Macey, Senior Analyst with Celent’s Insurance Group and coauthor of the report. “There are a number of good choices for an insurer with almost any set of requirements.”
“Some core claims systems bring broad and extensive out-of-the-box functionality that matches an insurer’s lines of business and operating model,” adds Craig Beattie, Analyst with Celent’s Insurance Group and coauthor of the report. “Other systems offer powerful configuration tools to build capabilities for both known and future requirements.”
Vendors covered in this report include Accenture, Adacta, Comarch, CSC, eBaoTech Corp, Fadata, FINEOS, FirstApex, Guidewire Software, IDIT Technologies Ltd., Innovation Group, IT-Freedom, Oracle, Profit, Protegys, Quinity, SAP, SFS, Software Solutions Partners, Tata Consultancy Services, and Wyde.