Vendors
日本語
search
  2. //
  3. Reports & insights
  4. //
  5. New competition for UK policy admin vendors and more choice for insurers

New competition for UK policy admin vendors and more choice for insurers

Create a vendor selection project
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
We are waiting for the vendor to publish their solution profile. Contact us or request the RFX.
Projects allow you to export Registered Vendor details and survey responses for analysis outside of Marsh CND. Please refer to the Marsh CND User Guide for detailed instructions.
Download Registered Vendor Survey responses as PDF
Contact vendor directly with specific questions (ie. pricing, capacity, etc)
28 September 2009
Catherine Stagg-Macey
The PAS space is hotting up here in the UK. Talk of eviscerated IT investment spending has been vastly overstated. Before the crisis really kicked off, insurers around the world were looking at how to address legacy core systems, and the level of RFI activity and PAS deals supported this. The recent announcement of Allianz UK and TIA was an example of a large UK insurer taking on the challenge of the legacy drag effect. Today, this was followed by the announcment of Axa Commercial replacing the current mainframe system with Duck Creek's Example platform. Deal activity levels in the UK have seen a lull in the last twelve months, but Celent sees these two deals as a sign of the new times. Insurers will look to get back on track in IT investment as soon as possible, and most will have to face the challenge of replacing outdated core systems or at the very least, consolidating to a few of the best systems in house. Both these examples highlight the investment that has been going on for sometime by policy admin vendors from outside the UK. Celent's view is that the UK market has been underserved by PAS vendors for some time now, and an increase in competition can only mean more choices for the insurer.

Comments

  • [...] that the Tier 1 players are investing even in this current climate. As discussed in last weeks post where we commented on Axa’s IT investment, there is significant momemtum in large investment [...]