Policy Administration Systems for General Insurers in Europe 2011

by Catherine Stagg-Macey,  Craig Beattie, July 21, 2011
Vendor Reviews
EMEA

Abstract

Celent profiles 42 policy administration systems vendors in Europe, with 20 full profiles and 22 limited profiles.

In a new report, Policy Administration Systems for General Insurers in Europe 2011, Celent looks at policy administration systems available to general insurers in Europe. Since the first report in 2005, activity has remained high among both insurers and policy administration system vendors. In the two years from January 2009 to January 2011, over 130 insurers had licensed a new policy administration system.

This report uses Celent’s ABCD Vendor View, which is a 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 has the first four PAS XCelent Awards for Technology, Functionality, Customer Base, and Service.

"We continue to see an influx of vendors new to the European market, particularly in the United Kingdom,” says Catherine Stagg-Macey, Senior Vice President with Celent’s Insurance Group and coauthor of the report. “The vendor market remains fragmented and challenging for the insurer buyer to navigate.”

“The continued investment in the solutions is noticeable with an average of 20% of product revenue going into R&D,” adds Craig Beattie, analyst and coauthor of the report. “This has resulted in a highly configurable systems with impressive UIs that can help insurers meet their challenging business goals.”

Vendors with a full profile include Accenture, CCS, Comarch, CSC, Duck Creek Technologies, eBao Tech Corp, Fadata, IDIT Technologies Ltd, IT Freedom, MSG, MI Ltd, Prima, Quinity, RDT, SAP, SSP (Pure), Tata Consultancy Services, TIA Systems, UniRisX, and Wyde.

Another 22 vendors are profiled in the limited profile section. There are several reasons why a vendor and solution might have a limited profile, including newness to the European market, a low number of insurers using the systems, limited references, or vendor request. These vendors include 3i Infotech, Adaptik, Atena, COR FJA, Exigen, Guidewire Software, I2S, Indra.es, Innovation Group, ITN, Javision, Metaskil/ Open Square, NITL, Oneshield, PEGA, RGI, Sapiens, SFS, SSP (Select), and Target.

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

3

Introduction

4

Policy Administration Systems: Definition and Functionality

7

The Business Case for Modern Policy Administration Systems

12

Report Methodology

14

Celent’s ABCD Vendor View and the XCelent Awards

16

About the Profiles

19

Accenture: Accenture Policy Components

20

Combined Computer Services (CCS): Level-7

28

Comarch SA: Comarch Nonlife Insurance

36

CSC: GraphTalk A.I.A

43

Duck Creek Technologies: Duck Creek Policy Administration

51

eBaoTech Corporation: eBaoTech GeneralSystem

59

Fadata: INSIS

67

IDIT: IDIT Software Suite

75

IT-Freedom Limited: ICE Policy

84

Mi Ltd.: MI Trader

92

msg systems: AG msg.PUA

100

Prima Solutions: Prima Insure

108

Quinity: Quinity Insurance Solution

115

RDT: Landscape

123

SAP AG: SAP Policy Management

131

SSP: SSP Pure Insurance

138

Tata Consultancy Service: TCS BaNCS Insurance Solution

142

TIA Technology A/S: TIA Solution

150

UniRisX: UNiRisX

159

Wyde: Winsure

166

Limited Profiles

174

3i Infotech: Premia

175

Adaptik Corporation: PolicyWriter

179

ATENA: ATENA.PARTENON Web

182

COR&FJA AG: IS P&C

185

Exigen Insurance Solutions: Exigen PolicyCore

188

Guidewire Software Inc. PolicyCenter

191

I2S Informatica – Systemas e Serviços, SAL Global Insurance Solution

192

Indra Sistemas SA; iONE

197

Innovation Group: Insurer Policy

200

ITN: Cleva

207

Javison Ltd.: Inamon

207

OneShield Inc.: Dragon Policy Administration

210

Metaskil: Open Square

213

NIIT Insurance Technologies Ltd: ipf3

216

Pegasystems Inc: Pega for Insurance

220

RGi Group: Plus Insurance

223

Sapiens International Corporation: N.V.: RapidSure

227

SFS Software: Winsure

230

SSP: SSP Select Insurance

234

Target Group Ltd.: IF FullCycle

238

Concluding Thoughts

241

Leveraging Celent’s Expertise

244

Related Celent Research

245

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