Policy Administration System Vendors: North American Personal P/C Insurance 2011

by Benjamin Moreland,  Donald Light, September 14, 2011
Product Trends/ Reviews
North America

Abstract

Who are the leading personal lines policy administration system vendors in 2011—as measured by technology, functionality, customers, and service? This report, featuring Celent’s XCelent Awards, provides the answers.

A new report, Policy Administration System Vendors: North American Personal P/C Insurance 2011, profiles 34 policy administration systems in use for personal lines, with 25 full profiles and 9 limited profiles. There are two designated winners for each of the XCelent Awards, in the categories of Technology, Functionality, Customer Base, and Service.

In addition to the awards and the solution profiles, this report describes the basic policy administration lifecycle and supporting functionality, as well as 11 types of indicative advanced functionality.

“In the past two years, nearly all vendors have made major investments in upgrading features, functions, usability, and integration methods,” says Donald Light, Senior Analyst with Celent’s Insurance group and coauthor of the report. “There have been some upgrades to modern frameworks and languages—very few solutions run on legacy platforms.”

“An insurer considering a new policy administration system today can choose among a number of attractive and capable systems. This report allows such an insurer to see what solutions might meet both its business needs and its technology standards,” adds Ben Moreland, Senior Analyst with Celent’s Insurance group and coauthor of the report. “An insurer considering a new policy administration system today has many strong and attractive choices.”

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

Executive Summary

4

Introduction

5

Policy Administration Systems: Definition and Functionality

8

Report Methodology

13

Celent’s ABCD Vendor View and the XCelent Awards

14

About the Profiles

18

AQS: AQS Advantage

19

CGI: CGI Edge Policy

25

CSC: Exceed Policy

31

CSC: POINT IN

37

DRC: DecisionMaker Policy

44

Duck Creek Technologies: Duck Creek Policy Administration

50

Exigen Insurance Solutions: Exigen Policy Core

59

Guidewire: PolicyCenter

67

Innovation Group: Insurer Policy

74

Innovative Computer Systems: Finys inPolicy

83

Instec: quicksolver 3

89

Insurance Systems Inc.: ISI Enterprise

95

Insuresoft: Diamond

101

ISCS: SurePower Innovation Policy Administration Suite

107

LexisNexis: Policy Decisions Commercial

114

MajescoMastek: STG Policy Administration Suite

120

Maximum Processing: The Stingray System

127

OneShield: OneShield Dragon

133

PCMS: Atlas

139

Pegasystems: Pega Insurance Solution

145

Sapiens International Corporation: RapidSure

152

SpeedBuilder Systems: BindExpress Suite

160

StoneRiver: Policy STAR

167

Tritech Financial Systems: General Insurance Management System

173

Wyde: Winsure

179

Limited Profiles

185

Adaptik Corporation: PolicyWriter

186

CodeObjects: PolicyEnterprise

189

eBaoTech Corporation: eBaoTech GeneralSystem

192

Focus Technologies: INScope Policy

196

Garvin-Allen Solutions: Advanced Insurance System (AIS)

199

Prima Solutions: Prima Insure

202

SAP: SAP Policy Management

204

SISTRAN: SISE 2G Policy Administration

206

Unirisx: Unirisx—the Global Insurance Solution

209

Comparative Charts

213

Concluding Thoughts

220

Leveraging Celent’s Expertise

222

Related Celent Research

223

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