Policy Administration Systems 2007: Personal Lines Vendors
AbstractBoston, MA, USA May 22, 2007
Celent's updated and expanded policy administration system vendor report provides in-depth analysis and compares nearly 30 personal lines PAS vendors.
A new report from Celent, , provides the most comprehensive data available about the players in this dynamic 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 nearly 200 pages of independent research findings.
"Interest in policy administration systems was showing signs of growth two years ago, and the market has flourished," comments Chad Hersh, a senior analyst in Celent's insurance group and lead author of the report. "A few systems have disappeared, but a number of others have come on the market, and still more are about to enter it. There is a crowded landscape of personal lines PAS vendors with solutions of varying depth."
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.
The report is 186 pages long. A table of contents (which lists all the vendors in the report) is available online.
Members of Celent's Property/Casualty Insurance research services can download the report electronically by clicking on the icon to the left. Non-members should contact firstname.lastname@example.org 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 subsidiary of Marsh & McLennan Companies [NYSE: MMC].
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