Distribution Management System Vendors: North American Insurance 2015
Who are the leading distribution management systems vendors in the categories of technology, functionality, customers, and service?
In the report Distribution Management System Vendors: North American Insurance 2015, Celent profiles 14 distribution management solutions. Distribution management solutions are used to manage the different administrative functions involved in managing the distribution channel.
These solutions fall into three categories of functions: compliance, compensation, and performance management. The solution providers that are profiled offer one or more modules that cover one or more of these categories. Some only provide compliance tools; others provide only compensation. Several provide all functions in a single module, and several provide multiple modules that can be purchased individually to provide one or more of these functions.
This report includes an overview of the key features and functionality provided in a distribution management system and profiles for 13 vendors.
Vendors featured: Aurea, CallidusCloud, CSC, CSSI, Ebix, IBM, Infosys, Majesco, Optymyze, Outline Systems, se2, StoneRiver, and Vertafore. Each profile provides an overview of the functionality, the customer base, the lines of business supported, the technology, implementation, pricing and support. Some solutions qualified for profiles that include customer references and a Celent opinion of the solution. These solutions are also ranked in the ABCD Vendor View. Some solutions did not qualify to be ranked in the ABCD Vendor View, and those profiles do not include a customer reference or a Celent opinion.
This report also names the winners of the XCelent Awards:
- XCelent Technology: IBM
- XCelent Functionality: CallidusCloud
- XCelent Customer Base: Vertafore
- XCelent Service: CallidusCloud
“Growth and retention continue to be the top business goals affecting IT investments. However, in our current hypercompetitive marketplace with continued pressure on rates, growth opportunities for insurers are limited,” says Karlyn Carnahan, a research director with Celent’s Insurance practice and author of the report. “Many carriers are focusing on improving their distribution practices as a key technique for driving growth. Designing, developing, maintaining, and managing productive channel relationships can create a sustainable competitive advantage. Distribution management systems provide tools and technologies to help carriers with the administrative aspects of distribution management.”
This 104-page report contains 26 figures and 57 tables.
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
Distribution Management Systems: Definition and Functionality
Celent’s ABCD Vendor View and XCelent Awards
Aurea Insurance Solutions: Distribution Channel Management
CallidusCloud: CallidusCloud Lead to Money Insurance Suite
CSC: Performance Plus
CSSI: Vue Distribution Management Suite (Carrier) and Vue Distribution Accelerator (Distributor)
Ebix: Producer Support System (PSS)
IBM: IBM Cognos Incentive Management (ICM) and IBM Cognos Producer Lifecycle and Credential Management (PLCM)
Infosys: PMACS — Producer Management and Compensation System
Majesco: Enterprise Distribution Management (EDM)
Optymyze Pty Ltd: Optymyze SPM Cloud
Outline Systems, Inc.: ProducerOne
se2: se2 Management Compensation System
StoneRiver: Stream Distribution
Vertafore: Sircon Producer Manager, Producer Express, and Compliance Express
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