Who are the leading claims systems vendors in 2014 in the categories of technology, functionality, customers, and service?
New York, NY (Dec. 16, 2014) – In the report Claims System Vendors: North American P&C Insurance 2014, Celent profiles 31 core claims solutions. There are full profiles for 14 solutions, which are also ranked in the ABCD Vendor View. Another 17 have shorter profiles and are not ranked. The report also names the winners of the XCelent Awards.
“There is no single best claims solution for all insurers. There are a number of good choices for an insurer with almost any set of requirements,” says Karlyn Carnahan, research director with Celent’s Insurance practice and coauthor of the report. “Every insurer has its own unique mix of lines of business, geography, staff capabilities, business objectives, and financial resources. This unique combination, along with the organization’s risk appetite, will influence the list of vendors for consideration.”
“As a group, vendors continue to make significant investments in their core claims systems,” says Donald Light, research director with Celent’s Insurance practice and coauthor of the report. “The solutions are delivering more functionality, improving configuration tools, and are more connected, with SOA and web services becoming the de facto standard.”
This 183-page report, containing 95 tables and 31 figures, is available from Celent.
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 part of Marsh & McLennan Companies (NYSE: MMC).