Policy Administration Systems in China, 2006: Property/Casualty Solution Spectrum

by Wenli Yuan, December 11, 2006

Abstract

Beijing, China December 11, 2006

Policy Administration Systems in China, 2006: Property/Casualty Solution Spectrum

As new companies mature, they may require more sophisticated systems.

The number of insurance companies in the China market has increased quickly. There are 23 new insurance companies that started operation in 2005. Nine of them are local property/casualty insurance companies, and one is an international P/C insurance company. In order to pass the China Insurance Regulatory Commission's starting operation inspection, these new companies must have installed a policy administration system. The vast majority of these companies have implemented local vendors' solutions in the last two years, for lower price and quicker implementation.

"Chinasoft Corporation, eBaoTech Corporation, Lenovo AI, and Sysnet Co. Ltd. are major local vendors that supply property and casualty policy administration systems in the China market," says Wenli Yuan, author of the new Celent report, Policy Administration Systems in China, 2006: Property/Casualty Solution Spectrum. "Celent believes international vendors also have potential in this market, since as these new companies mature, they may require more mature and sophisticated systems similar to those in use at other global insurers.">

Unlike Celent's recent study of life/pensions policy administration systems in China, this report does not include a Celent ABCD Vendor View. Sufficient information on two of the major players was unattainable, and therefore Celent was not able to create a fair analysis. Accordingly, Celent presents these vendors in a "Solution Spectrum" that documents the relative market positions of the leading players in the market.

The report introduces both local and international vendors that are market entrants. It includes profiles for five systems: Insure3 Policy of Castek Software Inc., Chinasoft PIS of Chinasoft Corporation, IDIT of I.D.I. Technologies, TIA Solutions of TIA Technology A/S, and Genius of Xchanging. International vendors included in this report are active in the China market; two vendors already have Chinese versions of their solutions installed in China-based insurance companies. In the Comparative Charts and Analysis section of the report, charts compare the profiled solutions on the bases of functionality breadth, core technology, cost, and product maturity/localization.

Considering China's more active role in the global market, Celent suggests local vendors rethink their system architecture with international standards. Celent also suggests international vendors supply more training to local partners to make sure they have enough knowledgeable resources and to make the first implementation client they get in China a happy client.

The report is 20 pages and contains three figures and four tables. A table of contents is available online.

 

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

Beijing, China December 11, 2006

Policy Administration Systems in China, 2006: Property/Casualty Solution Spectrum

 

Executive Summary 3
Introduction 4
Castek Software, Inc.:  Insure3 Policy 5
Chinasoft Corporation:  Chinasoft PIS 7
I.D.I. Technologies: IDIT 8
TIA Technology A/S: TIA Solution 9
Xchanging: Genius 10
eBaoTech 11
Comparative Charts and Analysis 12
Concluding Thoughts 18
Objectivity and Methodology 19

Sign in to download reports and access personalized information