Celent Communications presents profiles of 18 next generation platforms for the domestic and international insurance industry.
Although insurance carriers are still by and large tied to legacy systems, Celent Communications anticipates that over the next five years, domestic and international insurers will spend $1.65 billion implementing Web-enabled, next-generation policy administration systems.
"The advantages to implementing next generation systems go beyond the simple addition of a Web interface," says Celent analyst Matthew Josefowicz, author of the report. "Enterprise computing, workflow engineering, and database design have made huge strides in the past 10 years. A growing number of carriers of all sizes are willing to take the risk of replacing their tried-and-true legacy systems in order to vastly improve not only their distribution channels and workflow, but also their abilities to add and update new products, and to profitably aggregate and mine valuable customer data."
The report profiles and compares 18 systems for both Life/Health and Property/Casualty companies, including both those from established companies like Allenbrook, Castek CSC, CGI, Fiserv AIS, NaviSys, Sherwood International and Rebus iS, and offerings from newer firms like ACT Insurance Systems, AscendantOne, Impactools, Milliman USA, OpenFLEX and The Computer Partnership.
A Table of Contents is available online.
of Celent Communication's Life/Health Insurance and Property/Casualty Insurance research services can download the report electronically by clicking on the icon to the left.
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