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

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

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11 December 2006
Wenli Yuan

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.

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