2015 Stand-Alone P&C Billing Solutions
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 operating unit of Marsh & McLennan Companies [NYSE: MMC].
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Table of Contents
Accenture LLP / Accenture Duck Creek: Accenture Duck Creek Billing
Computer Sciences Corporation: Exceed Billing (PB360)
Guidewire Software Inc.: Guidewire Billing Center
Majesco: Majesco Billing
Insuresoft LLC: Diamond Billing
OneShield, Inc.: OneShield Billing
SAP SE: Billing & Payments (Collections & Disbursements)
StoneRiver, Inc.: Stream Billing
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