Latin American Policy Administration Systems 2013: General Insurance ABCD Vendor View

by Juan Mazzini, March 7, 2013
Vendor Reviews
Latin America

Abstract

In the last few years, the vendor landscape for policy administration systems in Latin America has changed significantly. It has moved from a market largely served by local and regional vendors, with most of their customers (96%) in the region, to a more global playing field.

In the report Latin American Policy Administration Systems 2013: General Insurance ABCD Vendor View, Celent looks at policy administration systems available to insurers in Latin America. The report is part of a series on policy administration systems (PAS) in Latin America, North America, EMEA, and Asia.

Vendors serving the Latin American market currently have 50% of their customers outside of Latin America. The market shift is mostly explained by the fact that almost 75% of the solutions described in this report were not present in the region five to seven years ago, but have a significant presence in other geographies such as North America, Europe, or Asia-Pacific.

“While growth is the main driver of core systems replacement, efficiency gains are still high on insurers’ priority lists, as there are many areas for improvement—mainly as the result of existing inflexible systems,” says Juan Mazzini, Senior Analyst with Celent’s Insurance Group and author of the report.

This report profiles 20 policy administration systems in use for general insurance products. It names the winners of the XCelent Awards using Celent’s ABCD Vendor View, which is our 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. The report also describes the core processes in a modern policy administration system, as well as the supporting capabilities and technology of vendor solutions.

This 184-page report contains 11 figures and 89 tables.

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

5

Report Methodology

8

Celent’s ABCD Vendor View

11

About the Profiles

14

An Overview of the Solution Spectrum

15

The Vendors

18

Full Profiles

19

Axxis Systems: SIS.net

20

Consis International: Acsel-e

29

InMotion-GIT: Visual Time

40

SISTRAN: SISE

51

TIA Technology A/S; The TIA Solution

61

Limited Profiles

71

CSC: GraphTalk A.I.A

72

CSC: Integral

79

eBaoTech Corporation: eBaoTech GeneralSystem

86

Exigen Insurance Solutions: Exigen PolicyCore

93

Fadata: INSIS

100

Guidewire Software Inc.: PolicyCenter

106

I4PRO Informática LTDA: i4PRO ERP

114

Indra Systems, S.A.: iONE

120

Tata Consultancy Services: TCS  BaNCS

126

Entrants

133

Accenture: Accenture Duck Creek Policy Administration

134

Combined Computer Services (CCS): Level 7

143

Diasoft: FLEXTERA Insurance

149

I2S Informática - Sistemas e Serviços SA: Global Insurance Solution (GIS)

155

Innovation Group: Insurer Policy

161

SAP: SAP Policy Management

167

Comparative Tables

173

Concluding Thoughts

176

Leveraging Celent’s Expertise

178

Related Celent Research

179

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