Profiling the Vendors of Web-Enabled Policy Administration Systems

October 30, 2001

Abstract

New York, NY, USA October 30, 2001

 

Celent Communications presents profiles of 18 next generation platforms for the domestic and international insurance industry.

Although insurance carriers are still by and large tied to legacy systems, Celent Communications anticipates that over the next five years, domestic and international insurers will spend $1.65 billion implementing Web-enabled, next-generation policy administration systems.

"The advantages to implementing next generation systems go beyond the simple addition of a Web interface," says Celent analyst Matthew Josefowicz, author of the report. "Enterprise computing, workflow engineering, and database design have made huge strides in the past 10 years. A growing number of carriers of all sizes are willing to take the risk of replacing their tried-and-true legacy systems in order to vastly improve not only their distribution channels and workflow, but also their abilities to add and update new products, and to profitably aggregate and mine valuable customer data."

The report profiles and compares 18 systems for both Life/Health and Property/Casualty companies, including both those from established companies like Allenbrook, Castek CSC, CGI, Fiserv AIS, NaviSys, Sherwood International and Rebus iS, and offerings from newer firms like ACT Insurance Systems, AscendantOne, Impactools, Milliman USA, OpenFLEX and The Computer Partnership.

A Table of Contents is available online.

of Celent Communication's Life/Health Insurance and Property/Casualty Insurance research services can download the report electronically by clicking on the icon to the left.

        

Send mail to info@celent.com with questions or comments about this Web site.

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

 

New York, NY, USA October 30, 2001

Return to Abstract

 

INTRODUCTION 3
THE MARKET 4
CONSOLIDATION OF PLAYERS 7
ASSESSING FUNCTIONALITY 8
PROFILES: COMBINED SYSTEMS 10

 

CGI: GIOS

10

 

Sherwood Int'l: Amarta

11

PROFILES: P/C Systems 13

 

Allenbrook: Phoenix

13

 

Castek: Insure3

14

 

CSC: COGEN

15

 

CSC: POINT

16

 

CSC: S3+

17

 

Fiserv AIS: Policy STAR

17

 

Rebus IS: GENIUS

18

PROFILES: L/H SYSTEMS 20

 

CSC: FUTUREfirst

20

 

NaviSys: Home Office/Front Office

21

 

SOLCORP: INGENIUM

22

PROFILES: NEWER COMPANIES (P/C) 24

 

ACT Insurance Sys: Momentum

24

 

AscendantOne: Front Office Suite

25

 

OpenFLEX: AIMS-1

26

PROFILES: NEWER COMPANIES (L/H) 28

 

IMPACTOOLS: ESEG

28

 

Milliman USA: FAST

29

 

TCP: Copernicus

30

COMPARATIVE TABLES & CHARTS 31
CONCLUDING REMARKS 36
        

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