Asia-Pacific Policy Administration Systems 2012: Life and Pension ABCD Vendor View

by Wenli Yuan, February 3, 2012
Vendor Reviews
Asia-Pacific

Abstract

For insurers, navigating the market of life and pension policy administration system vendors remains a difficult task. Celent profiles a majority of the life and pension insurance administration systems available in the Asia-Pacific region today.

In a new report, Asia-Pacific Policy Administration Systems 2012: Life and Pension ABCD Vendor View, Celent looks at the policy administration systems available to life insurers in the Asia-Pacific region. The report is part of a series on policy administration systems (PAS) in Europe, the United States, and Asia.

As a group, vendors continue to make significant investments in their core policy administration systems. These solutions are becoming more capable (deeper functionality); smarter (better reporting and analytics); and more connected (SOA and Web services become the standard). The market is also evolving due to acquisitions and partnerships, solutions development, and alternative delivery models.

There is no single best policy administration solution for all insurers. There are a number of good choices for an insurer with almost any set of requirements.

“Insurers seeking a new core policy administration system should begin the process by looking inward,” says Wenli Yuan, Senior Analyst with Celent's Asian Financial Services group and author of the report. “Next, insurers should seek to understand and weigh the capabilities of each vendor and each solution.”

The Asia-Pacific IT vendor landscape is increasingly difficult to navigate and, for insurers, the selection of a PAS requires the analysis of different parameters that have all their importance. Celent recommends that insurers define and rank their own priorities when reviewing this important question.

This report is not intended to provide an insurer with all the tools they need to choose the “right” policy administration system, though it can help an insurer take the first steps towards shortening a long list.

Celent profiles 21 policy administration systems in Asia Pacific, with 9 full profiles and 12 limited profiles, using its ABCD Vendor View, which is a standard representation of a vendor marketplace designed to show at a glance the relative positions of each vendor in four categories: Advanced technology, Breadth of functionality, Customer base, and Depth of client services.

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].

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

3

Introduction

4

Report Methodology

5

Celent’s ABCD Vendor View and the XCelent Awards

8

About the Profiles

11

AETINS SDN BHD: ISF Life/PentaTAKAFUL Family

12

Bravura Solutions: Sonata

20

CSC: Integral Life

27

EAB Systems Limited: iLife

35

eBaoTech Corporation: eBaoTech LifeSystem

41

FIS Software: ALIS

48

HP Enterprise Services: INGENIUM

55

Sinosoft Life Insurance System (LIS)

63

SunGard Data Systems: iWorks COMPASS

69

Tata Consultancy Services: TCS BaNCS

76

Limited Profiles

84

Accenture; Accenture Life Insurance Platform (ALIP)

85

HP Enterprise Services: RADIENCE

104

IBM/Genelco Software Solutions: IBM Genelco Insurance Administration Solution (IBM GIAS)

109

InsIT Financial InfoTech: i-Goup

114

Mastek Ltd.: ElixirAsia

118

McCamish Systems, an Infosys Company: VPAS

123

Oracle: Oracle Insurance Policy Administration for Life and Annuity

128

Prima Solutions: Prima Insure

133

SAP: SAP Policy Management

137

Comparative Charts

142

Concluding Thoughts

146

Leveraging Celent’s Expertise

150

 

Support for Financial Institutions

150

 

Support for Vendors

150

Related Celent Research

151

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