Profiling the Vendors of Web Front-End Systems for Property/Casualty Carriers

September 10, 2002

Abstract

New York, NY, USA September 10, 2002

Profiling the Vendors of Web Front-End Systems for Insurance Carriers

First comprehensive study of over 30 insurance Web systems vendors

Celent痴 new reports on Profiling the Vendors of Web Front-End Systems for Insurance Carriers provide insurers with detailed analyses of the offerings of over 30 vendors.

"Carriers are turning to vendors for web front-end technology projects," said Celent senior analyst Matthew Josefowicz, lead author of the two-volume report. "The major drivers for making the buy-versus-build decision are the same as they have always been: lack of internal capabilities, speed, and cost. In addition, a critical mass of vendor-supplied products is now reaching maturity."

Insurers are embracing the Web to increase efficiency and reduce costs in communications with agents, policyholders, and shoppers. Celent predicts that by 2005, the majority of U.S. insurers will offer agent and policyholder Web portals for new business, self-service, field-force management, and document distribution, and that most carriers will offer some features for online shoppers, if only to provide a "quick-quote" and refer them to an agent. Although perhaps 15-20% of carriers are likely to replace their old core policy administration systems with fully Web-enabled solutions over the next few years, far more carriers are seeking to create Web-based interfaces to their existing back-end systems.

The reports are designed to inform carriers who are considering launching or upgrading a Web front-end solution about the process they are facing and some of the major vendor-provided solutions that they should consider. The report is available in two editions, one each for property/casualty and life/health.

Eight vendor solutions, which serve both property/casualty and life/health clients, are profiled in both editions of the report: CheckFree, Duckcreek, DWL, edocs, FINEOS, Jacada, S1, and SAP.

The life/health edition profiles an additional 16 L/H focused solutions for a total of 24. These include solutions from: Allfinanz, CGI, Fipsco/Fiserv, Impactools, Insurance Technologies, NaviSys, Connecture, Connextions, eHealth Systems, Genelco, HealthAxis, Riverwood, Selectica, CSC, Global IQX, and InSystems.

The property/casualty edition profiles an additional 8 P/C focused solutions for a total of 24. These include solutions from: AgencyPort, Allenbrook, AscendantOne, CSC, ePolicy Solutions, SEEC, Sengen, and Sherwood International.

Each profile contains company background information, including size, location, and description of main business; specific product information and functionality including areas of focus; technical specifications including programming language, platform, and database types supported, as well as scalability testing; information on current clients and target client types; as much detail about pricing and deal as available; and brief summaries of client reference evaluations and impressions. In addition, each profile contains a detailed full-page functionality matrix.

Since the offerings of the vendors covered in these reports and the requirements of carriers vary so widely, it is impossible to rank or recommend specific solutions. The report provides comparative charts and tables for carriers to see critical comparative information at a glance: functionality breadth, technology, cost, and product maturity/number of clients.

A table of contents for both reports is available online. Click here for the life/health edition, here for the property/casualty edition.

of Celent Communications' Property/Casualty Insurance and Life/Health Insurance research services can download the report electronically by clicking on the icon to the left.

        

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 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

 

New York, NY, USA September 10, 2002

Profiling the Vendors of  Web Front-End Systems  for Property/Casualty  Carriers

Return to report Abstract

 

EXECUTIVE SUMMARY 4
INTRODUCTION 6
  Use of the Web 6
  "Web Front-Ends" 6
  Use of Vendor-Provided Solutions 7
  About This Report 7
PROJECT GOALS 8
CALCULATING ROI 10
  Elements of Formal ROI Calculations 10
BUY V. BUILD 12
SELECTING A VENDOR 14
PROJECT CHALLENGES 16
THE PROFILES 19
  The Solutions and Companies 19
  Profile Contents 19
  Functionality Matrices 19
PROPERTY/CASUALTY-FOCUSED SOLUTIONS 22
  AgencyPort: KeyOnce 22
  Allenbrook: AIM (Allenbrook Internet Module) 24
  AscendantOne: Solution Suite and Insurance Relationship Management 26
  CSC: iSolutions 28
  ePolicy Solutions: RightRisk 30
  SEEC: Axcess for Insurance 32
  Sengen: Online Policy Issuance & Admin, Underwriters Desktop 34
  Sherwood: Fronttier 36
GENERAL SOLUTIONS 38
  CheckFree: I-Solutions 38
  Duckcreek: Example Express 40
  DWL: DWL Insurance 42
  edocs: EASuite 44
  FINEOS: Agent/Broker Portal, Customer Portal 46
  Jacada: Jacada Integrator and Jacada Interface Server 48
  S1: S1 Insurance 49
  SAP: MySAP Enterprise Portal 51
VENDOR COMPARISONS & CHARTS 53
  Functionality Breadth 53
  Technology 55
  Cost 55
  Product Maturity/Number of Clients 57
CONCLUDING REMARKS 58
  For Carriers 58
  For Vendors 59

 

        

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