European Policy Administration Systems 2007: Life Insurance Vendors

by Catherine Stagg-Macey, July 30, 2007

Abstract

London, United Kingdom 30 July 2007

Detailed profiles and comparisons of 16 vendors, as well as limited profiles of 11 other vendors, reveal that policy administration systems are becoming cheaper and more flexible.

There are a wide range of choices of policy administration systems among both established vendors and entrants, according to , Celent's second report on the European vendor landscape for life insurers.

"The level of RFI activity has been low in this sector compared to general insurance," says Catherine Stagg-Macey, senior analyst with Celent's Insurance group and author of the report. "But we will see this change in the next three or so years. With this increased interest from insurers, prices dropping, implementations becoming quicker, and vendor options becoming more plentiful, now is indeed a very interesting time for insurers to be considering a new policy administration system."

Entrants offer more flexible pricing models, moving away from per-module or per-user to the number of policies processed or a percentage of the premium. Technical flexibility has increased. Solutions offer multiple integration options, and many operate on more than one platform. More .NET offerings are available than there were in 2005, reflecting the general market acceptance of both technologies.

Celent's new report is designed to help insurers understand this marketplace. The report contains detailed profiles of 16 policy administration systems and limited profiles of 11 additional systems. The report also uses Celent's new 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. Unlike a simple "four-quadrant" map, solutions in the upper right are not necessarily the best solutions--in an area as complex and idiosyncratic as policy admin, there is no one "best" for all cases. Insurers should consider which factors in breadth, technology, experience, and client service are most important to them and use the profiles and comparative tables in this report to generate their own shortlists. Only fully profiled vendors are included in the ABCD Vendor View.

The vendors with full profiles are Exaxe, Airas, Mastek, aquila, Fadata, FINEOS, Bravura Solutions, Alice Software Service, EDS SOLCORP, FJH, COR, LeanApps, Sapiens, CSC, FIS, and Percana.

Vendors with limited profiles are eBaoTech, EDS SOLCORP (Radience), IDIT Technologies, Open Square, SAP, SunGard, Tata Consultancy Services, and Wyde.

The 128-page report contains seven figures and 83 tables.

A table of contents is available online.

Members of Celent's Life/Health Insurance research services can download the report electronically by clicking on the icon to the left. Non-members should contact info@celent.com for more 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 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

London, United Kingdom 30 July 2007

Executive Summary 3
Introduction 4
Report Methodology 5
Celent's ABCD Vendor View 7
About the Profiles 9
Airas Intersoft: iGas 11
ALICE Software Service GmbH:  ALICE Life 17
aquila: administrator 22
Bravura Solutions: Talisman 28
COR AG Insurance Technologies: COR Life 34
Computer Sciences Corporation: GraphTalk A.I.A. 40
EDS SOLCORP: Ingenium 46
Exaxe: Exaxe Insurance  Product Suite 52
Fadata Ltd.: Insis 57
FINEOS: FINEOS Life 63
FIS Software: Alis 68
FJH AG: FJA Life Factory 73
LeanApps: LeanApps Life 79
Mastek: Elixir 85
Percana Group: Eclipse 91
Sapiens: Insight for Life and Pensions 97
Limited Profiles 102
Other 110
Comparative Charts and Analysis 112
European Coverage 120
Concluding Thoughts 121
Objectivity and Methodology 123

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