Policy Administration Systems for Commercial Lines P/C Insurers
US 2009
ANALYST REPORT
This report is the third in Celent’s biennial looks at policy administration systems available to insurers in North America. Since the first report in 2005 and the second in 2007, activity level has remained high among both insurers and policy administration system vendors.
In the two years from January 2007 to December 2008, over 220 insurers had licensed a new policy administration system. And at the end of 2008, over 100 insurers were in the process of implementation.
The full report profiles 38 policy administration systems in use for commercial lines, with 30 full profiles and 8 limited profiles. There is a companion Celent report, Policy Administration Systems for Personal Lines P/C Insurers US 2009, covering personal lines systems.
About two-thirds of the profiled vendors have issued a major new release: that upgraded their technology platform, broadened their range of functionality, or both since 2007. Essentially all vendors have made a major investment in enabling their solution to work in an insurer’s SOA environment. Many solutions have also made important advances in usability and personalization—with benefits for new and experienced underwriters and service representatives. System administration capabilities for configuring products, rules, work flow, document management, and UIs have also improved—although overall
these changes have occurred at a more modest pace than improvements for end users.
An insurer considering a new policy administration system today can choose among a number of attractive and capable systems. This report allows such an insurer to see what solutions might meet both its business needs and its technology standards.
In the two years from January 2007 to December 2008, over 220 insurers had licensed a new policy administration system. And at the end of 2008, over 100 insurers were in the process of implementation.
The full report profiles 38 policy administration systems in use for commercial lines, with 30 full profiles and 8 limited profiles. There is a companion Celent report, Policy Administration Systems for Personal Lines P/C Insurers US 2009, covering personal lines systems.
About two-thirds of the profiled vendors have issued a major new release: that upgraded their technology platform, broadened their range of functionality, or both since 2007. Essentially all vendors have made a major investment in enabling their solution to work in an insurer’s SOA environment. Many solutions have also made important advances in usability and personalization—with benefits for new and experienced underwriters and service representatives. System administration capabilities for configuring products, rules, work flow, document management, and UIs have also improved—although overall
these changes have occurred at a more modest pace than improvements for end users.
An insurer considering a new policy administration system today can choose among a number of attractive and capable systems. This report allows such an insurer to see what solutions might meet both its business needs and its technology standards.
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