North American Policy Administration Systems 2013: Life, Health, and Annuities ABCD Vendor View
Celent provides a detailed look at 24 policy administration systems for North American life, health, and annuities products.
In North American Policy Administration Systems 2013: Life, Health, and Annuities ABCD Vendor View, Celent looks at policy administration systems available to insurers in North America. The report is part of a series on policy administration systems (PAS) in North America, EMEA, and Asia.
“This report is intended to help insurers compare policy administration vendors on a wide range of factors. Insurers can evaluate a vendor relative to their IT strategy by looking at critical factors, such as the availability of certain technical or functional features and customer feedback on system implementation and integration,” says Karen Monks, Analyst with Celent’s Insurance Group and coauthor of the report.
“Large transformation projects are always somewhat risky and difficult, even under the best circumstances,” adds Chuck Johnston, Research Director with Celent’s Insurance Group and coauthor of the report. “Given the variation in insurance business models and products, there is no one right answer for policy administration for all carriers, and insurers need to have a clear view of all the dimensions of a given system to make an intelligent selection decision.”
This report features Celent’s ABCD Vendor View. The ABCD Vendor View presents comparative views of the vendor marketplace in four areas: Advanced technology and technical flexibility, Breadth of functionality, Customer base, and Depth of client services and solutions. The report also describes the core processes in a modern policy administration system, as well as the supporting capabilities and additional point solutions provided by vendors.
The report is 136 pages and contains 19 figures and 95 tables. A table of contents, including the full list of vendors profiled, is available online.
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
Policy Administration Systems: Definition and Functionality
Celent’s ABCD Vendor View
About the Profiles
Accenture: Accenture Life Insurance Platform (ALIP)
Airas Intersoft Limited: iGas
CSC: Wealth Management Accelerator
FAST: FAST Policy Administrator
InsPro Technologies: InsPro Enterprise
MajescoMastek: Elixir North America
Management Data Inc. FIMMAS
Mphasis Wyde: Wynsure
Oracle: Oracle Insurance Policy Administration
Rudd and Wisdom Inc: QL Admin
SunGard Data Systems: iWorks Compass
C2L BIZ Solutions: Symbiosis - Pas
Exaxe: Income Plus and Invest Plus
HP: RADIENCE Administration
Infosys McCamish Systems, LLC: VPAS Platform
Insurance Global Operations: IGO6
LIDP Consulting Services: The Administrator
Tata Consulting Services: TCS BaNCS
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