Life/Health Policy Administration Systems Vendors: 2003

November 11, 2003

Abstract

New York, NY, USA November 11, 2003

Between 2002 and 2006, Celent anticipates that North American life/health insurance carriers will have spent US$350 million on policy administration systems (PAS).

In a new report, " ," Celent examines North American PAS market trends and profiles and compares 20 PAS offerings from 16 vendors, recommending four top choices of vendors for the life/health segment.

The report examines the business drivers behind PAS purchases, including the need for Web enablement, consolidation and integration, product development, and business process improvement.

"With prices low and system functionality more robust than ever, its a great time for carriers to look at replacing or augmenting their policy administration systems. However, they need to be cautious about selecting a system that meets their needs now and in the future" said Chad Hersh, a senior analyst in Celent痴 insurance practice and co-author of the report.

The 16 vendors profiled in this report include: Accenture, AdminServer, Amerillium, Bsolve, CGI (Flexinsure and GIOS), Consis, CSC (CyberLife, FutureFirst, and VANTAGE), Duck Creek, FiServ LIS,

Genelco, LIDP, NaviSys, Sherwood (Amarta LIFE and FrontTier Group), SolCorp, SunGard, and Tata.

The 65-page report contains 6 figures and 23 tables.

A is available online.

of Celent Communications' Life/Health 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.

        

Send mail to info@celent.com with questions or comments about this Web site.

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

 

New York, NY, USA November 11, 2003

Life/Health Policy  Administration Systems  Vendors: 2003

Return to report Abstract

 

EXECUTIVE SUMMARY 3
INTRODUCTION 4
BUSINESS DRIVERS 6
MARKET OVERVIEW 9
VENDOR PROFILES 12
  Key Functionalities 13
  Accenture: Accenture Insurance Solution (AIS) 14
  AdminServer: AdminLife & Annuity 16
  Amerillium: CIS-Life 19
  Bsolve: Glacier Insurance 21
  CGI: Flexinsure 23
  CGI: GIOS 25
  Consis: ACSEL-E 28
  CSC:CyberLife 30
  CSC: FutureFirst 31
  Duck Creek: Example Platform-Transact 33
  FiServ LIS: ID3 37
  Genelco: Genelco Life+ 39
  LIDP: The Administrator 41
  NaviSys: Home Office Administration 43
  Sherwood: Amarta Life  45
  Sherwood: FrontTier Group 47
  SolCorp: Ingenium 49
  SunGard Insurance Systems: Compass 51
  Tata Consultancy Services (TCS): Integrated Insurance Management Systems (IIMS) 53
COMPARATIVE CHARTS AND ANALYSIS 55
RECOMMENDED SOLUTIONS 61
CONCLUDING THOUGHTS 63
OBJECTIVITY & METHODOLOGY 64

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