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P&C Stand-Alone Rating Systems

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29 March 2013
Michael Fitzgerald

An ABCD Analysis of Vendor Solution in North America

Abstract

Choice has increased for insurers in the Property & Casualty rating marketplace. Suite administration products have improved their capabilities and a few have functionality that is comparable to stand-alone raters. Some stand-alone packages remain focused on satisfying basic rating calculations, while others have expanded into the management of the entire insurance product. Choosing the right solution is more complex than ever before.

A new report, Stand-Alone Rating Systems for North American P&C Insurers, assists insurers by reviewing 15 rating systems in use for personal, commercial, and specialty products. The report has nine full profiles and six emerging profiles. Using Celent’s ABCD Vendor View, it presents a comparative view of the vendor marketplace that visually represents four elements: Advanced Technology, Breadth of Functionality, Customer Base, and Depth of Customer Service.

"This report helps insurers as they solve their challenges related to rating and product development,” says Mike Fitzgerald, Senior Analyst with Celent’s Insurance Group and author of the report. “This is a comprehensive analysis of the current market that informs the selection of vendor solutions.”

This 112-page report contains 11 figures and 140 tables.

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