Claims Systems Vendors: North American P/C Insurance 2013

by Donald Light, April 5, 2013
Vendor Reviews
North America

Abstract

Who are the leading claims systems vendors in 2013: in technology, functionality, customers, and service? This report, featuring Celent’s XCelent Awards, provides the answers.

In the report Claims System Vendors: North American P/C Insurance 2013, Celent profiles 23 core claims solutions. There are full profiles for 12 solutions, which are also ranked in the ABCD Vendor View. Another 11 have shorter profiles and are not ranked. The report also names the winners of the XCelent Awards.

In the past 10 years, nearly every core claims solution has migrated to a modern .NET or JEE framework—or was built from the ground up on one or the other. All solutions have had minor or major releases within the past two years. Nearly all solutions offer, in some way, the 14 kinds of basic functionality; and many of the 11 kinds of advanced and additional kinds of functionality.

“This surface-level homogeneity makes it all the more important for insurers to know how to dig deeper and to understand how vendors’ offerings match their requirements,” says Donald Light, Research Director with Celent’s Insurance Group and author of the report. “What makes it even more challenging is that the requirements are not those that replicate how claims are adjusted today, but those that will give insurers the flexibility to change how they adjust claims over the next five to ten to fifteen years.”

This 103-page report has 49 tables and 10 figures.

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

Core Claims Systems: Definition and Functionality

3

The Case to Replace: Aligning Clients with Corporate Objectives

5

Report Methodology

7

Celent’s ABCD Vendor View and the XCelent Awards

8

About the Profiles

11

Full Profiles

12

Accenture: Accenture Claim Components

13

Cover-All Technologies: BlueWave Claims

20

CSC: Riskmaster Accelerator

26

Delphi Technology: OASIS Claims Management

31

Exigen Insurance Solutions: ClaimCore

37

FINEOS Corporation: FINEOS Claims

42

Guidewire: ClaimCenter

48

Innovation Group: Insurer Claims

54

ISCS, Inc.: SurePower Innovation Claims

60

SAP AG: SAP Claims Management

65

SroneRiver: PowerSuite Claims

70

Systems Software: SIMS Claims

74

Limited Profiles

78

CS Stars LLC: STARS Enterprise

79

DAVID Corporation: NavRisk Claims

81

eBaoTech; General Claim

83

Insurance Global Operations: ICO6 CLAIMS

85

Insurity: Claims Decisions

87

MajescoMastek: STG Claims

89

PCIS: ClaimsVision

91

PCMS: Atlas Claims Administration

93

Pegasystems Inc.: Pega Claims for Insurance

95

StoneRiver: Claims Stream

97

Tata Consultancy Services (TCS) TCS BaNCS

99

Concluding Thoughts

101

Leveraging Celent’s Expertise

102

Related Celent Research

103

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