Claims Systems Vendors: North American P&C Insurance 2014

by Karlyn Carnahan,  Donald Light, December 15, 2014
Vendor Reviews
North America

Abstract

Who are the leading claims systems vendors in 2014 in the categories of technology, functionality, customers, and service?

In the report Claims System Vendors: North American P&C Insurance 2014, Celent profiles 30 core claims solutions. There are full profiles for 13 solutions, which are also ranked in the ABCD Vendor View. Another 17 have shorter profiles and are not ranked. The report also names the winners of the XCelent Awards.

"There is no single best claims solution for all insurers. There are a number of good choices for an insurer with almost any set of requirements,” says Karlyn Carnahan, research director with Celent’s Insurance practice and coauthor of the report. “Every insurer has its own unique mix of lines of business, geography, staff capabilities, business objectives, and financial resources. This unique combination, along with the organization’s risk appetite, will influence the list of vendors for consideration.”

“As a group, vendors continue to make significant investments in their core claims systems,” says Donald Light, research director with Celent’s Insurance practice and coauthor of the report. “The solutions are delivering more functionality, improving configuration tools, and are more connected, with SOA and web services becoming the de facto standard.”

This 180-page report has 91 tables and 29 figures.

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

Core Claims Systems: Definition and Functionality

4

Report Methodology

9

Celent’s ABCD Vendor View and the XCelent Awards

10

Accenture: Duck Creek Claims

13

EIS Group: Claim Core

21

Guidewire: Claim Center

27

Innovation Group: Insurer Claims

34

Insuresoft: Diamond Claims

41

Insurity: Claims Decisions

47

ISCS: SurePower Innovation

55

JDi Data Corporation: Claims Manager

63

MajescoMastek: STG Claims

70

Maximum Processing: The StingRay System

76

StoneRiver: PowerSuite Claims

83

StoneRiver: Stream Claims

90

Sistema Software: SIMS Claims

97

Limited Profiles

104

B2-USA: EZ*Insure

105

Brytework, Inc.: Alyce Claims Management System

111

Cover-All: Cover-All Claims

114

CSC: RISKMASTER Accelerator

118

DAVID Corporation: NavRisk Claims

122

eBaoTech: eBao GeneralClaim

126

OneShield: OneShield Claims for Market Solutions

130

PCIS: ClaimsVISION

134

PCMS: Atlas

137

Quindell: ICE Claims

140

SAP: SAP Claims Management

144

Seibels: Claims Processing Xpert

147

STARS: STARS Enterprise Claims

152

Tata Consultancy Services: TCS BaNCS

157

TIA Technology: TIA Claims Solution

161

Vikaran Solutions: Claims Expert

165

Xchanging: Xuber Claims

169

Concluding Thoughts

173

Leveraging Celent’s Expertise

174

 

Support for Financial Institutions

174

 

Support for Vendors

174

Related Celent Research

175

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