Deal Trends and Projections in the P&C Claims Market: 2015 APAC Edition
Celent believes that sales of P&C claims systems in APAC will continue at a rapid pace during the mid-2014 to mid-2016 period.
In a new report, Deal Trends and Projections in the P&C Claims Market: 2015 APAC Edition, Celent analyzes deal activity for new core claim systems in APAC using data from 12 vendors which reported their sales in two prior two-year periods. The report also estimates the new deals in the mid-2014 to mid-2016 period.
Vendor claims systems are skewed towards implementations for smaller insurers. Smaller insurers are giving more attention to the modernization of P&C claims system in recent years.
“Currently there are a limited number of vendors in the claims software market,” says KyongSun Kong, an analyst with Celent's Asian Financial Services practice and coauthor of the report. “However, recently Celent has seen an increase in Asia-Pacific vendors offering claims solutions that can be implemented with or without the associated policy administration system. Given this trend, the stand-alone claims deal volumes are expected to grow.”