Claims System Vendors: North American P/C Insurance 2011

by Donald Light, January 26, 2011

Abstract

Who are the leading claims system vendors in 2011: in technology, functionality, customers, and service? This report, with XCelent Awards, provides the answers.

In a new report, Claims System Vendors: North American P/C Insurance 2011, Celent looks at 22 core claims solutions. Sixteen have full profiles, and are ranked in the ABCD Vendor View grids. Six have shorter profiles and are not ranked. The report also has the first four claims systems XCelent Awards for Technology, Functionality, Customer Base, and Service.

In addition to the awards and the solution profiles the report describes the basic claims lifecycle and supporting functionality (as shown below); as well as 15 examples of indicative advanced functionality.

The report also discusses trends and predictions for claim systems.

“Since the publication of the first Celent Claims Vendor report in 2004, the replacement of legacy claims systems is proceeding at a substantial pace,” said Donald Light, Senior Analyst with Celent’s Insurance Group and author of the report. “An insurer considering a new core claims system today has many strong and attractive choices. This report provides a starting point for identifying those solutions that merit closer looks.”

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 subsidiary 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

3

Introduction

4

Core Claims Systems: Definition and Functionality

5

Trends and Predictions for Core Claim Systems

8

Report Methodology

10

Celent’s ABCD Vendor View and the XCelent Awards

11

About the Profiles

15

Accenture: Accenture Claim Components

16

Aon eSolutions: iVOS

22

BlueWave Technology: PipelineClaims

28

CSC: Advanced Claims

34

CSC: Exceed Claims

40

Delphi Technology: OASIS Claims Management

47

Exigen Insurance Solutions: ClaimCore

53

Guidewire Software: ClaimCenter

59

Innovation Group: Insurer Claims

66

ISCS: SurePower Innovation Claims

73

LexisNexis Insurance Software Solutions: Claims Decisions

79

PCIS: Claims Vision

85

SAP: SAP Claims Management

90

StoneRiver: Claims Workstation

96

Tata Consultancy Services: TCS BaNCS Insurance

103

Wyde Solutions: Wynsure Claims

109

Additional Solutions

115

CS STARS: STARS Enterprise

116

DAVID Corporation: NavRisk Claims

119

eBaoTech Corporation: GeneralClaim

122

FINEOS Corporation: FINEOS Claims

125

Oracle : Oracle Claims

Paradox Technology Solutions: ClaimsExpert

131

Comparative Charts

133

Concluding Thoughts

137

Leveraging Celent’s Expertise

143

Related Celent Research

144

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