US Property/Casualty Rating Systems: ABCD Vendor View, 2009

by Michael Fitzgerald, August 26, 2009
Vendor Reviews
North America

Abstract

Stand alone rating systems continue to become more sophisticated, and rating engines are responding to this challenge. Many solutions have been extended to contain product features other than rating, such as forms, eligibility and underwriting rules.

 

This report, US Property/Casualty Rating Systems: ABCD Vendor View, 2009, is designed to help carriers take a fresh look at the various players that are active in the stand alone rating applications space. The goal in conducting this detailed data analysis and in talking to key players is to provide comparative data that helps carriers shortcut the process of evaluating rating engine vendors.

"Speed to market and product flexiblity continue to be competitive levers in the industry," says Mike Fitzgerald, senior analyst and author of the report. "Rating solutions that support these business goals continue to gain traction in the market."

Celent analyzes 8 products from 8 vendors using its ABCD analysis framework to present a comparative view of the vendor marketplace that visually represents four elements: Advanced technology and technical flexibility, Breadth of functionality, Customer base, and Depth of client services and solutions. Vendors included in this report are: AQS, CGI, CSC, DRC, Duck Creek, ISO Rating Service, Oracle and StoneRiver.

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

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