North American Policy Administration Systems 2011: Life, Health, and Annuities ABCD Vendor View
Celent provides a detailed look at 18 policy administration systems for life, health, and annuities.
In a new report, North American Policy Administration Systems 2011: Life, Health, and Annuities ABCD Vendor View, Celent looks at policy administration systems available to insurers in North America. The report is part of a series on policy administration systems (PAS) in North America, EMEA, and Asia.
"The life and annuity policy administration market continues to evolve," says Craig Weber, Senior Vice President of Celent's Insurance group and coauthor of the report. "Every vendor we looked at this year has improved its offering in some way, and changes in company ownership have altered the landscape significantly. Even if you think you already know the players, this refreshed analysis will bring new insights."
“This report is intended to help insurers compare vendors on a wide range of factors. Additionally, insurers can evaluate a vendor relative to their IT strategy by looking at hard and soft critical factors such as the availability of certain technical or functional features as well as the vendor’s availability of services that the insurer will require as part of system implementation and integration,” adds Karen Monks, Analyst with Celent’s Insurance group and coauthor of the report.
This report features Celent’s ABCD Vendor View. The ABCD Vendor View presents comparative views of the vendor marketplace in four areas: advanced technology and technical flexibility, breadth of functionality, customer base, and depth of client services and solutions. The report also describes the core processes in a modern policy administration system, as well as the supporting capabilities and additional point solutions provided by vendors.
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
Accenture: Accenture Life Insurance Platform (ALIP)
CSC: Wealth Management Accelerator
ExlService Holdings, Inc. EXL LifePro
FIS Software: ALIS
HP Enterprise Services: INGENIUM
InsPro Technologies LLC: InsPro Enterprise
MajescoMastek: Elixir North America Policy Administration System
Management Data, Inc. FIMMAS
McCamish Systems, an Infosys Company: VPAS
Oracle: Oracle Insurance Policy Administration for Life and Annuity
Rudd and Wisdom, Inc.: QL.Admin
SnGard Data Systems: iWorks Compass
Wyde Solutions: Wynsure
FAST: FAST Insurance Components
HP Enterprise Services; RADIENCE
IBM/Genelco Software Solutions: IBM Genelco Insurance Administration Solution (IBM GIAS)
Leveraging Celent’s Expertise
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