Policy Administration Systems 2007: Life/Health/Annuity Vendors

June 4, 2007

Abstract

Boston, MA, USA June 4, 2007

Celent’s updated and expanded report provides in-depth analysis and comparison of over 10 life/health/annuity policy administration systems and vendors, plus limited coverage of more than 10 additional systems.

Celent’s new report, provides the most comprehensive data available about the players in this market. The report is designed to help insurers dramatically cut the time required to create a short list of vendors appropriate for their needs, providing over 100 pages of independent research findings.

"The market for L/H PAS is finally starting to wake from its dormancy," comments Chad Hersh, a senior analyst in Celent’s insurance group and lead author of the report. "A number of new systems that have emerged in the past few years, plus some established vendors focused on consolidation, are leading the change," said Mr. Hersh. "Add to that the significant number of modern systems looming on the horizon from both domestic and foreign vendors, and I think the L/H/A PAS market is about to embark on a significant recovery."

Each full profile in the report includes detailed information about each vendor solution, including:

  • Company and organizational details
  • Customer base and reference feedback
  • System functionality (lines of business and key functions supported)
  • Usability
  • Implementation times and cost.

The report makes use of Celent’s ABCD Vendor View tool. In contrast to a simple four-quadrant map, the ABCD Vendor View presents a comparative view of the vendor marketplace that visually represents four elements: Advanced technology and technical flexibility, Breadth of functionality, Customer base, and Depth of client services. The ABCD Vendor View is a simple graphical representation of a highly complex marketspace. While it is a useful snapshot, it is not a substitute for the detailed information found in the profiles. Unlike a four-quadrant map, solutions in the upper right are not necessarily the best solutions...in an area as complex and idiosyncratic as policy administration, there is no one "best" for all cases. Note that only vendors that provided references and full information are included in the ABCD. The report contains additional limited profiles about other vendors who provided fewer details or did not meet the report’s inclusion criteria.

A table of contents is available online.

Members of Celent's Life/Health Insurance 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 operating unit 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

Boston, MA, USA June 4, 2007

Executive Summary 3
Introduction 4
Report Methodology 5
Celent's ABCD Vendor View 6
About the Profiles 9
AdminServer: AdminServer Policy Administration System 11
Accenture (Formerly NaviSys): Accenture Life Insurance Platform (ALIP) 18
CGI/Wyde: Wynsure 25
CSC: CyberLife 32
EDS SOLCORP: INGENIUM 39
Fiserv: ID3 46
LIDP: The Administrator 53
Management Data, Inc.: FIMMAS 60
McCamish Systems: VPAS Life 66
Rudd and Wisdom: QL. Admin 73
SunGard: iWORKS COMPASS 78
Limited Profiles 85
  ATIAM: INSPRO Insurance System 85
  CSC: Wealth Management Accelerator 87
  Consis: Acsel-e 88
  EAB Systems Limited: iLife 89
  EDS SOLCORP: RADIENCE 90
  FIS Software: ALIS 91
  Fineos: Fineos Life 92
  MajescoMastek: Elixir 93
  Milliman: Milliman STEP Solutions 94
  SAP: FS-PM 95
  SEG: SEG Admin 96
  Tata: IIMS 97
Versata: Versata Policy Administration 98
Comparative Charts and Analysis 99
Concluding Thoughts 106
Objectivity and Methodology 107

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