Global Life & Health Portal Solutions: 2016 Vendor Spectrum
Celent has released a new report titled Global Life & Health Portal Solutions: 2016 Vendor Spectrum. The report was written by Jamie Macgregor and Karlyn Carnahan, both with Celent’s Insurance practice.
Agent portals are a relatively mature technology. Most insurers provide some sort of portal functionality to their agents because they have found that agents place business with insurers that are easy to do business with.
An agent portal is the primary point of engagement for an agent with an insurer. They typically include functionality to allow an agent to easily place and quote new business as well as service in-force business. Solutions typically include functionality such as workflow, document management, and collaboration. Insurers should include the following areas in their evaluation: specific portal functionality, configurability, technical compatibility, and customer reference interviews. Nine solutions are profiled in this vendor overview.
“Today, most portals are used as a gateway to back end applications in order to check coverage, make basic amendments, and look up pertinent information,” says Karlyn Carnahan, Research Director at Celent. “Increasingly, insurers are looking for ways to make their portals stickier through embedding tools and guides, and enabling greater mobility in order to add more value back to the agent beyond pure process efficiencies.”
“Across most geographies observed by Celent, there remains a strong preference to build portals using frameworks and tools,” says Jamie Macgregor, Senior Vice President of Celent’s insurance practice. “However, increasingly there are a number of stand-alone solutions that offer an alternative to the more common ‘build’ approach.”
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].
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Table of Contents
Definition and Functionality
Comarch S.A.: Comarch Insurance Agent Essential (CIAE)
Digital Keystone Limited, a subsidiary of Dunstan Thomas Group Limited: Adaptive Portal
EAB Systems Limited: 121 Distributor Portal, 121 Customer Portal
Intellect Design Arena: Distribution & Service Suite
Larsen and Toubro Infotech Limited: iCEOn (Insurance Community Ecosystem)
Majesco: Majesco DigitalConnect
Tata Consultancy Services: TCS BaNCS for Insurance
Leveraging Celent’s Expertise
Support for Financial Institutions
Support for Vendors
Related Celent Research