Celent provides a detailed look at 21 core claims systems offered by 19 vendors.
San Francisco, CA, USA – December 30, 2008 – Since the publication of the first Celent claims vendor report in 2006, the replacement of legacy claims systems has continued at a substantial pace. In the past two years, the 19 vendors profiled in this report have sold over 100 core claim systems. In the second half of 2008, over 50 insurers are implementing new systems from licensed from this report�s profiled vendors.
This report features Celent�s ABCD Vendor View. The ABCD Vendor View presents 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.
The report also describes how replacing a legacy claim system with a modern one provides benefits that align with three key corporate strategies: growth, efficiency, and underwriting success.
“Since 2006 about three-quarters of the profiled vendors have issued a major new release: upgrading their technology platform, broadening their range of functionality, or both,” says Donald Light, senior analyst with Celent�s insurance practice and author of the report.
Light adds, “Essentially, all vendors have made a major investment in enabling their solution to work in an insurer�s SOA environment. Most solutions have also made great strides in usability and personalization�with benefits for new and experienced adjusters.”
The 96-page report contains five figures and two tables.
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 experienced 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 part of Marsh & McLennan Companies [NYSE: MMC]. www.celent.com.