Top priorities include cloud/SaaS deployments and digital experience
Novarica profiles 15 vendor solution providers
Boston, MA (Dec. 4, 2018) – Insurers are taking a renewed look at billing capabilities and their impact on the customer experience. Inflexible legacy billing systems can inhibit growth and ability to meet customer and agent expectations. Vended property and casualty billing solutions are maturing, giving carriers better options for a billing system modernization. A new report from research and advisory firm Novarica, Property/Casualty Billing Systems, provides an overview of the available stand-alone billing systems for US property/casualty insurers, including profiles of each of 15 vendor solutions.
“At least half of insurers now consider billing to be a customer service issue, rather than a purely financial issue,” said Martina Conlon, Senior Vice President of Research and Consulting, and co-author of Novarica’s new report. “The customer service bar has been raised by the retail market through companies like Amazon, by banks such as Bank of America, and by insurance carriers like Progressive and GEICO. Online self service is now a baseline expectation of a competent provider, and expectations for mobile self service continue to increase, making billing a critical component of digital transformation.”
Vendors included: Axiom, Billing Management Services, Decision Research Corporation, Duck Creek Technologies, DXC Technology, EIS Group, Guidewire, Input 1, Insuresoft, Majesco, OneShield, Policy Administration Solutions, Sapiens, SpeedBuilder Systems, and West Point Insurance Services.
A preview of the brief is available online.
Summary
This report provides an overview of the available stand-alone billing systems for US property/casualty insurers. The report contains profiles of each of 15 vendor solutions, summarizing the vendor organization, technology used, differentiators, client base, lines of business supported, deployment options, implementation approaches, upgrades/enhancements, and key functionality.
Click here for the table of contents or to access the report.
About Novarica
Novarica helps more than 100 insurers make better decisions about technology projects and strategy through retained advisory services, published research, and strategy consulting. Its knowledge base covers trends, benchmarks, best practices, case studies, and vendor solutions. Leveraging the expertise of its senior team and more than 300 CIO Research Council members, Novarica provides clients with the ability to make faster, better, more informed decisions. Its consulting services focus on vendor selection, custom benchmarking, project checkpoints, and IT strategy. For more information, visit www.novarica.com.
Source: Novarica
Tags: Cloud, customer experience (CX), Novarica, Software as a Service (SaaS)
