2015 Stand-Alone P&C Billing Solutions

Vendor Review — North America
by Michael Fitzgerald,  Mohammed Mahfuz, April 22, 2015
Vendor Reviews
North America

Abstract

The property & casualty billing function continues to transition from its traditional role as the most “back office” of back office processes. Insurers realize the strong role that billing plays in financial operations and in building relationships with customers and distributors.

Unlike previous market scans by Celent, this iteration documents a reduction in the number of stand-alone implementations.

“Insurers understand that their legacy billing systems will not meet the challenge of higher service expectations from today’s consumers, business customers, and especially distribution partners,” says senior analyst Mike Fitzgerald. “Efforts to improve the customer experience in insurers often have billing as a key focus area. Sometimes this is addressed with a stand-alone solution and, increasingly, smaller insurers are looking for a suite solution that combines policy with billing.”

The report reviews eight vendors and includes data on overall functionality, customer base, lines of business supported, technology used, implementation, pricing, and support. Four solutions qualified for full profiles which include a Celent opinion of the solution, in addition to customer reference information.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

Introduction

2

Report Methodology

5

Full Profiles

7

Accenture LLP / Accenture Duck Creek: Accenture Duck Creek Billing

8

Computer Sciences Corporation: Exceed Billing (PB360)

15

Guidewire Software Inc.: Guidewire Billing Center

22

Majesco: Majesco Billing

29

Emerging Profiles

36

Insuresoft LLC: Diamond Billing

37

OneShield, Inc.: OneShield Billing

42

SAP SE: Billing & Payments (Collections & Disbursements)

47

StoneRiver, Inc.: Stream Billing

52

Conclusion

58

Leveraging Celent’s Expertise

59

 

Support for Financial Institutions

59

 

Support for Vendors

59

Related Celent Research

60

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