Policy Administration System Vendors: North American Commercial P/C Insurance 2011

by Benjamin Moreland,  Donald Light, September 14, 2011
Product Trends/ Reviews
North America

Abstract

Who are the leading commercial lines policy administration system vendors in 2011—as measured by technology, functionality, customers, and service? This report, featuring Celent’s XCelent Awards, provides the answers.

A new report, Policy Administration System Vendors: North American Commercial P/C Insurance 2011, profiles 50 policy administration systems in use for commercial lines, with 33 full profiles and 17 limited profiles. There are two designated winners for each of the XCelent Awards, in the categories of Technology, Functionality, Customer Base, and Service.

In addition to the awards and the solution profiles, this report describes the basic policy administration lifecycle and supporting functionality, as well as 11 types of indicative advanced functionality.


“In the past two years, nearly all vendors have made major investments in upgrading features, functions, usability, and integration methods,” says Donald Light, Senior Analyst with Celent’s Insurance group and coauthor of the report. “There have been some upgrades to modern frameworks and languages—very few solutions run on legacy platforms.”

“Capabilities for configuring products, rules, document management, and UIs have also improved, although true workflow/process design still lags. In general these changes have occurred at a more modest pace than usability/personalization improvements for end users,” adds Ben Moreland, Senior Analyst with Celent’s Insurance group and coauthor of the report. “An insurer considering a new policy administration system today has many strong and attractive choices.”

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

Executive Summary

4

Introduction

5

Policy Administration Systems: Definition and Functionality

8

Report Methodology

13

Celent’s ABCD Vendor View and the XCelent Awards

14

About the Profiles

18

AQS: AQS Access

19

AQS: AQS Advantage

25

Camilion: Authority Suite

31

CGI: CGI Edge Policy

38

Cover-All Technologies: My Insurance Center – NexGen

44

CSC: POINT IN

52

DAVID Corporation: NavRisk Policy

59

Delphi: OASIS Policy Management

65

DRC: DecisionMaker Policy

72

Duck Creek Technologies: Duck Creek Policy Administration

78

Guidewire: PolicyCenter

86

Innovation Group: Insurer Policy

93

Instec: quicksolver 3

102

Insurance Systems Inc.: ISI Enterprise

108

ISCS: SurePower Innovation Policy Administration Suite

114

LexisNexis: Policy Decisions Commercial

121

MajescoMastek: STG Policy Administration Suite

128

Maple Technologies: Aspire Information System

135

Maximum Processing: The Stingray System

141

OneShield: OneShield Dragon

147

P&C Insurance Systems: CompVision

153

PCMS: Atlas

160

Pegasystems: Pega Insurance Solution

165

Sapiens International Corporation: RapidSure

172

SimpleSolve: SimpleInsure Enterprise Solution

180

SpeedBuilder Systems: BindExpress Suite

187

SSP: SSP Pure Insurance

194

StoneRiver: Policy STAR

200

StoneRiver: PowerSuite Policy

206

Sword Insurance: Open+

213

Tata Consultancy Services: TCS Bancs

221

Tritech Financial Systems: General Insurance Management System

28

Wyde: Winsure

234

Limited Profiles

240

Accenture: Accenture Policy Components

241

Adaptik Corporation: PolicyWriter

246

AGO Insurance Software: All Lines Policy Process System (ALPPS)

249

Aon eSolutions: iVOS

252

Comtec: Total Insurance System Policy Administration

255

eBaoTech Corporation: eBaoTech GeneralSystem

258

Garvin-Allen Solutions: Advanced Insurance System (AIS)

262

Innovation Computer Systems: Finys inPOLICY

265

Innovex Technology: Innovex Policy Administration

268

Insuresoft: Diamond

271

NIIT Insurance Technologies Ltd: ipf3

274

Paradox Technology Solutions : PolicyExpert

277

Prima Solutions: Prima Insure

279

SAP: SAP Policy Management

281

Silvermoon Business Systems: LUNOS Policy Administration Edition

283

SISTRAN: SISE 2G Policy Administration

286

Unirisx: Unirisx—the Global Insurance Solution

289

Comparative Charts

293

Concluding Thoughts

300

Leveraging Celent’s Expertise

302

Related Celent Research

303

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