Profiling the Vendors of Web-Enabled Policy Administration Systems
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.
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 Contents
New York, NY, USA October 30, 2001
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