Policy Administration Systems 2007: Life/Health/Annuity Vendors
AbstractBoston, 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)
- 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 email@example.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].
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Table of ContentsBoston, MA, USA June 4, 2007
|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|
|EDS SOLCORP: INGENIUM||39|
|LIDP: The Administrator||53|
|Management Data, Inc.: FIMMAS||60|
|McCamish Systems: VPAS Life||66|
|Rudd and Wisdom: QL. Admin||73|
|SunGard: iWORKS COMPASS||78|
|ATIAM: INSPRO Insurance System||85|
|CSC: Wealth Management Accelerator||87|
|EAB Systems Limited: iLife||89|
|EDS SOLCORP: RADIENCE||90|
|FIS Software: ALIS||91|
|Fineos: Fineos Life||92|
|Milliman: Milliman STEP Solutions||94|
|SEG: SEG Admin||96|
|Versata: Versata Policy Administration||98|
|Comparative Charts and Analysis||99|
|Objectivity and Methodology||107|