AIM Evaluation: Policy Administration Systems’ Ability to Integrate External Third-Party Data

PAS vendors are helping their carrier partners integrate external third-party data into core processes

Boston, MA (Dec. 4, 2018) – Property and casualty insurance carriers around the world are being asked to provide more customized and personalized experiences for their policyholders, such as quicker and more accurate underwriting decisions or facilitated claims processes. To make this happen, carriers increasingly rely on third-party data and on a policy administration system that can integrate it. Aite Group’s newest report, AIM Evaluation: PAS Vendors’ External Third-Party Data Integration Capabilities, evaluates the overall competitive position of each PAS vendor, focusing on vendor stability, client strength, product features, and client services.

“PAS vendors are helping their carrier partners integrate external third-party data into core processes, such as underwriting and claims,” says Jay Sarzen, senior analyst at Aite Group. “They are prompted by carriers’ focus on policyholder experience and growing acceptance of a data-driven insurance ecosystem, a rising influx of new types of data, an accompanying expansion of analytical capabilities, and the rise of the cloud,” he adds.

Leveraging the Aite Impact Matrix (AIM), a proprietary Aite Group vendor assessment framework, this new report profiles Beyontec, BriteCore, Decision Research Corporation, Duck Creek Technologies, EIS Group, Guidewire, Instec, Insuresoft, Insurity, Majesco, OneShield, Sapiens, and Socotra, and recognizes specific vendors for their strengths in critical areas. It is based on detailed requests for information and interviews with client references conducted between July and October 2018.

Click here for the online report summary or to download the table of contents.

Leveraging the Aite Impact Matrix (AIM), a proprietary Aite Group vendor assessment framework, this report evaluates the overall competitive positions of 13 PAS vendors based on their ability to integrate third-party data to enhance core operational functions. The report profiles Beyontec, BriteCore, Decision Research Corporation, Duck Creek Technologies, EIS Group, Guidewire, Instec, Insuresoft, Insurity, Majesco, OneShield, Sapiens, and Socotra, and recognizes specific vendors for their strengths in critical areas. It is based on detailed requests for information and interviews with client references conducted between July and October 2018.

This 84-page Impact Report contains 20 figures and 22 tables. Clients of Aite Group’s P&C Insurance service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions AGO, CodeObjects, Delphi Technology, DXC, eBaoTech, Epic-Premier, Finys, Insurance Systems Incorporated, Maple Technologies, Megalodon Insurance Systems, NTT Data, One Inc., Oracle, PCMS, Prima Solutions, QBIS Insurance Solutions, SAP, Solartis, Trifin, and Unirisx.

To speak with Jay Sarzen about this topic, please contact pr@aitegroup.com.

About Aite Group

Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us at www.aitegroup.com.

Source: Aite Group

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