P/C Claims System Vendor Profiles : Report Published by Celent

San Francisco, CA, USA – Claims is a core process for property/casualty insurers�claims 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, P/C Claims System Vendor Profiles, 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�s 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

Each profile includes information about the vendor itself, including how its claims solution fits into its product portfolio; the solution�s compatibility with various platforms; integration options; configurability; time and cost of implementation; references; and a summary of value and specific issues. Each also has tables illustrating how comprehensively the solution addresses the core claims adjustment and management processes.

The 62-page report contains 30 tables and 6 figures. A table of contents is available online.

Contact info@celent.com for more information.

Celent

Celent’s service offering falls into two categories, consulting and research, each of which is dedicated to technology in the financial services industry. We help banks, brokerage firms and insurance companies use IT to enter new markets in the shortest possible timeframes. All of our services are geared towards facilitating better informed, faster decision making. For more information visit www.celent.com or contact info@celent.com.