Latin American Policy Administration Systems 2013: General Insurance ABCD Vendor View
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 subsidiary of Marsh & McLennan Companies [NYSE: MMC].
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Table of Contents
Policy Administration Systems: Definition and Functionality
Celent’s ABCD Vendor View
About the Profiles
An Overview of the Solution Spectrum
Axxis Systems: SIS.net
Consis International: Acsel-e
InMotion-GIT: Visual Time
TIA Technology A/S; The TIA Solution
CSC: GraphTalk A.I.A
eBaoTech Corporation: eBaoTech GeneralSystem
Exigen Insurance Solutions: Exigen PolicyCore
Guidewire Software Inc.: PolicyCenter
I4PRO Informática LTDA: i4PRO ERP
Indra Systems, S.A.: iONE
Tata Consultancy Services: TCS BaNCS
Accenture: Accenture Duck Creek Policy Administration
Combined Computer Services (CCS): Level 7
Diasoft: FLEXTERA Insurance
I2S Informática - Sistemas e Serviços SA: Global Insurance Solution (GIS)
Innovation Group: Insurer Policy
SAP: SAP Policy Management
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