P/C Claims System Vendor Profiles

by Donald Light, September 24, 2004

Abstract

 

San Francisco, CA, USA September 24, 2004

Claims is a core process for property/casualty insurers幼laims payments and expenses dominate their financial results. Claims is also the most complex core process, touching multiple internal and external organizations, applications, and databases.

Deciding to replace a core claims process is a difficult decision. Insurers must weigh the pain and cost of the transition against gains in efficiency, flexibility, and accuracy. Once the decision is made, the question becomes, "Which replacement system?" (Very few insurers can or should (re)build their claims systems from scratch.)

In a new report, , Celent analyzes the leading vendors in the space, giving insurers a head start on the vendor selection process. The report provides a rating of each solution on a scale of 1 to 5, based on functional breadth, technology flexibility, and market position.

"There are several strong options in this space. These vendors and solutions offer different combinations of functional breadth, technology flexibility, and market position," comments

Donald Light, senior analyst in Celent痴 insurance group and author of the report. "There is no default leader. Insurers must carefully consider the features, technology, and organizational fit of each solution and vendor to their specific context before making a decision."

The report profiles 14 comprehensive claims solutions from 12 vendors

Vendors and Solutions Profiled

Vendor/Solution

Accenture Claim Components
CGI GIOS Claims Management
CGI INSideOUT Claims
Corporate Systems CS ClaimsPro
CSC Advanced Claims
CSC Exceed Claims
Delphi Technology Inc. OASIS Claims Management
Exigen Insurance Process Backbone
FINEOS Claims Manager
Fiserv Insurance Solutions Claims Workstation
Guidewire ClaimCenter
Source: Celent analysis
Vendors and Solutions Profiled

Vendor/Solution

Insurity Pyramid.NET
SAP Insurance Claims Management
The Innovation Group TiG Claims
Source: Celent analysis

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

 

San Francisco, CA, USA September 24,  2004

P/C Claims System Vendor  Profiles

Return to report Abstract

 

EXECUTIVE SUMMARY 3
INTRODUCTION 4
FINANCIAL IMPACT OF CLAIMS 5
CLAIMS PROCESSES AND TECHNOLOGY 6
PROFILES 10
  Accenture: Claim Components Solution 11
  CGI: GIOS Claims Management 14
  CGI: InsideOut 17
  Corporate Systems: CS ClaimsPro 20
  CSC: Advanced Claims 23
  CSC: Exceed Claims 26
  Delphi Technology Inc: OASIS Claims Management 29
  Exigen Insurance Process Backbone 32
  FINEOS Insure Claim Manager 35
  Fiserv Insurance Solutions: Claims Workstation 38
  Guidewire ClaimCenter 41
  Insurity: Pyramid.NET 44
  SAP: Insurance Claims Management 48
  The Innovation Group: TIG Claims 51
COMPARATIVE CHARTS 55
CONCLUDING THOUGHTS 60
OBJECTIVITY & METHODOLOGY 61

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