Asia-Pacific Policy Administration Systems: Property and Casualty ABCD Vendor View

by Wenli Yuan, January 22, 2014
Vendor Reviews
Asia-Pacific

Abstract

For insurers, navigating the market of property and casualty policy administration system vendors remains difficult. Celent profiles a majority of the property and casualty insurance administration systems available in the Asia-Pacific region today.

In the report Asia-Pacific Policy Administration Systems: Property and Casualty ABCD Vendor View, Celent looks at policy administration systems available to P&C insurers in the Asia-Pacific region. The report is part of a series on policy administration systems (PAS) in Europe, the United States, and Asia.

As a group, vendors continue to make important advances in usability and personalization. Many have added or upgraded web-based portal interfaces that benefit customer service representatives, underwriters, and different distribution forces. System administration capabilities for configuring products, rules, workflow, document management, and user interfaces have also improved. Expanded PAS functionality and improved technology mean that insurers continue to have a wide spectrum of systems and vendors to consider when they are looking for a solution to fit their needs. There is no single best policy administration solution for all insurers. There are a number of good choices for an insurer with almost any set of requirements.

“The Asia-Pacific IT vendor landscape is increasingly difficult to navigate and, for insurers, the selection of a PAS requires the analysis of different parameters of varying importance,” says Wenli Yuan, Senior Analyst with Celent's Asian Financial Services Group and author of the report. “Celent recommends that insurers define and rank their priorities when reviewing this important question.”

This report is not intended to provide an insurer with all the tools they need to choose the “right” policy administration system, though it can help an insurer take the first steps toward shortening a long list.

The profiles 26 policy administration systems in Asia-Pacific, with 10 full profiles and 16 limited profiles, using its ABCD Vendor View, which is a standard representation of a vendor marketplace designed to show at a glance the relative positions of each vendor in four categories: Advanced technology, Breadth of functionality, Customer base, and Depth of client services.

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

Executive Summary

1

Introduction

2

Policy Administration Systems: Definition and Functionality

3

Report Methodology

6

Celent’s ABCD Vendor View

8

About the Profiles

11

CSC: Integral POLISY

12

eBaoTech Corporation: GeneralSystem

19

Guidewire Software Inc.: PolicyCenter

25

Innovation Group: Insurer Policy

32

NTT DATA FA Insurance Systems: FirstGen

39

Sapiens: Sapiens IDIT

46

Sinosoft co., Ltd: General Insurance System (GIS)

52

SSP: SSP Pure Insurance

59

SSP: SSP Select Insurance

65

Unirisx: Unirisx Insurance Solution

71

Limited Profiles

78

3i Infotech: PREMIA General Insurance Solution

79

Accenture: Accenture Duck Creek Policy

81

Aetins: ISF General

83

Agile Financial Technologies: Agilis General Insurance

85

Exigen Insurance Solutions : PolicyCore

87

Fadata: INSIS

89

Oceanwide Inc.: Bridge System

91

RDT Limited: Landscape

93

Salix Insurance Limited: PHAROS

95

SAP AG: SAP Policy Management

97

Sequel Business Solutions: Eclipse

99

Target Group Limited IF Full Cycle

101

Tata Consultancy Services TCS BaNCS

103

Tia Technology A/S: The Tia Solution

105

Xuber: Genius

107

Xuber: Xuber Policy

109

Conclusion

111

Leveraging Celent’s Expertise

113

 

Support for Financial Institutions

113

 

Support for Vendors

113

Related Celent Research

114

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