Core Claims Systems Vendors 2008

by Donald Light, December 30, 2008

Abstract

San Francisco, CA, USA December 30, 2008

Core Claims Systems Vendors: US Property/Casualty Market, 2008

Celent provides a detailed look at 21 core claims systems offered by 19 vendors.

Since the publication of the first Celent claims vendor report in 2004, the replacement of legacy claims systems has continued at a substantial pace. In the past two years, the 19 vendors profiled in this report have sold over 100 core claim systems. In the second half of 2008, over 50 insurers are implementing new systems from licensed from this report’s profiled vendors.

This report features Celent’s ABCD Vendor View. The ABCD Vendor View presents a comparative view of the vendor marketplace that visually represents four elements: Advanced technology and technical flexibility, Breadth of functionality, Customer base, and Depth of client services and solutions.

The report also describes how replacing a legacy claim system with a modern one provides benefits that align with three key corporate strategies: growth, efficiency, and underwriting success.

"Since 2006 about three-quarters of the profiled vendors have issued a major new release: upgrading their technology platform, broadening their range of functionality, or both," says Donald Light, senior analyst with Celent’s insurance practice and author of the report.

Light adds, "Essentially, all vendors have made a major investment in enabling their solution to work in an insurer’s SOA environment. Most solutions have also made great strides in usability and personalization...with benefits for new and experienced adjusters."

The 96-page report contains five figures and two tables. A table of contents is available online.

of Celent's Property/Casualty Insurance research service can download the report electronically by clicking on the icon to the left. Non-members should contact info@celent.com for more information.  

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

San Francisco, CA, USA December 30, 2008

Executive Summary 3
Introduction 5
Core Claims Systems: Definition and Functionality 6
The Case to Replace: Aligning Claims with Corporate Strategies 9
Report Methodology 12
Celent’s ABCD Vendor View 13
About the Profiles 15
Accenture: Accenture Claim Components Solution 16
Aon eSolutions: iVOSc Claims Management 20
BlueWave Technology: PipelineClaims 24
CGI: CGI Edge 27
CSC: Advanced Claims 30
CSC: Exceed Claims 33
Delphi Technology: OASIS Claims 37
Exigen Insurance Solutions: Claims Lifecycle Management 41
Fiserv Insurance Solutions: Claims Workstation 44
Fiserv Insurance Solutions: PowerSuite Claims 48
Guidewire Software: ClaimCenter 52
Innovation Group: Innovation Claims 56
Insurity: Claims Decisions 60
ISCS: SurePower Innovation 64
MajescoMastek: STG Claims 67
Oracle: Oracle Insurance Claims 71
SAP: SAP Claims Management 75
TCS Financial Solutions: TCS BaNCS Insurance 78
Emerging Solutions 81
DAVID Corporation: NavRisk Claims 82
FINEOS Corporation: FINEOS Claims 84
IDP: IDP::Claims 86
Comparative Charts 88
Concluding Thoughts 92

 

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