Novarica ACE RankingsT Document “Average Customer Experience” to Help Insurers Evaluate Technology Vendors Based on Peer Experience

Each Ranking is Based on the Results of an Independent Customer Satisfaction Survey of At Least Five Insurers

September 8, 2008 (New York): Novarica, a division of Novantas LLC, today announced the launch of its Novarica ACE Ranking™ reports, which document the Average Customer Experience of insurers with various technology solutions.

“While insurers have many sources of information about potential technology solution providers, from analyst opinions to whitepapers to press articles, none of them provide an independent view of what is most important to all insurer CIOs – peer experience,” said Matthew Josefowicz, director of the insurance practice at Novarica, and lead researcher of the Novarica ACE Rankings project. “Our goal is to provide a quantitative, independent average ranking of customer experience across the critical areas of staff, organization, functionality, and technology for each and every significant insurer software solution on the market. The reports provide average scores on 35 different customer satisfaction questions.”

Unlike other rankings of solution providers, the Novarica ACE Rankings™ are based on the same number of customer survey responses for each solution, and only consider input from insurer executives with direct experience with that solution. Novarica verifies every response with the insurer directly.

Novarica ACE Rankings™ are produced independently and are not sponsored by vendors. Novarica solicits rankings directly from its own network of insurer contacts as well as offering vendors the opportunity to direct clients to the survey. Vendors have no input into the results of the survey other than the opportunity to send clients to the survey link. Individual client responses are kept confidential from the referring vendor.

Novarica today also announced the publication of the first four Novarica ACE Ranking™ reports:

  • CSC Exceed Billing, a billing solution for insurers, which ranked an 89 overall with slightly higher scores for overall customer satisfaction and staff and slightly lower scores for technology.
  • Guidewire ClaimCenter, a claims management system, which also ranked 89 overall, with slightly higher scores for overall customer satisfaction and technology, and slightly lower scores for functionality and organization.
  • Hyland Software OnBase, a document management solution used by many insurers, which ranked 97 overall, with slightly higher scores for overall customer satisfaction, functionality and organization, and a slightly lower score for staff.
  • iPartners Insurance Scorecard, a SaaS business intelligence platform, which ranked 95 overall, with slightly higher scores for overall customer satisfaction and staff, and slightly lower scores for technology and functionality.

Rankings for at least a dozen other solutions are currently in progress. Novarica intends to produce over 100 ACE Rankings in the next 12 months.

About Novarica

Novarica provides information, insights, and perspective on markets, operations, and technology to financial services and insurance executives and project teams. The company delivers its service through published research, retained advisory services, and project-based consulting. Novarica’s research includes market and trend analyses, best practices research, case studies, and neutral independent analyses of insurance software vendors. Novarica is a division of Novantas, LLC, the leading management consultancy and information services provider for the financial services industries.