Claims System Spectrum: APAC P&C Insurance 2016
Celent has released a new report titled Claims System Vendors: APAC P&C Insurance 2016. The report was written by KyongSun Kong, an Analyst with Celent’s Insurance practice.
This report presents Celent’s 2016 survey and evaluation of core claims systems offered to APAC property & casualty insurers. The report profiles 10 vendors and how each core claims system gathers and processes information regarding the underlying policy and coverages, the claim, and the claimant.
The survey will show most vendors have the capability to deploy their solutions to the cloud.
“In APAC as well as in other regions, few carriers are doing nothing when it comes to claims. Many are engaged in some level of replacement of the claims admin system,” commented Kong.
“Reasons are plentiful. Legacy claims systems are aging, and they struggle to support claims of newer and more complex products. At the end of the day, legacy systems translate into adding more resources, both human and financial, to maintain those systems,” she added.
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 part of Marsh & McLennan Companies [NYSE: MMC].
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Table of Contents
Core Claims Systems: Definition and Functionality
Duck Creek Technologies LLC: Duck Creek Claims
EIS Group, Inc.: ClaimCore
Fadata EOOD: INSIS Claims
Guidewire Software Inc.: Guidewire ClaimCenter
Majesco: Majesco Claims
NIIT Insurance Technologies Limited: Advantage Suite Navigator
SAP SE: SAP Claims Management
Sinosoft Co., Ltd.: General Claims Management System
Tata Consultancy Services: TCS BaNCS for Insurance
TIA Technology A/S: TIA Claims Solution
Leveraging Celent’s Expertise
Support for Financial Institutions
Support for Vendors
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