Many vendors have re-architected their billing offerings to modernize technology, normalize technical approaches, and enhance solution configurability: Aite-Novarica Group profiles 14 vendor solutions in latest Market Navigator report
Boston, MA (Nov. 16, 2021) – The retail market has raised the customer service bar. Insurers want to create retail-like experiences and customers now expect ease of use and self-service even for complex transactions. In its latest Novarica Market Navigator, Property/Casualty Billing Systems, research and advisory firm Aite-Novarica Group provides an overview of the available stand-alone billing systems for US property/casualty insurers, as well as detailed profiles of 14 vendor solutions.
“At least half of insurers now consider billing a customer service issue rather than a purely financial issue,” says Stuart Rose, Strategic Advisor at Aite-Novarica Group and co-author of Aite-Novarica Group’s new report. “Online self-service is a baseline expectation of competent providers, and more consumers than ever expect mobile self-service. These factors make billing a critical component of digital transformation.”
“Vendors are implementing next-generation user experiences for agents, insureds, and employees,” adds co-author Martin Higgins. “They are improving architectures by providing microservices and enabling headless billing function implementations. These changes aim to give insurers more control over the user experience.”
Many vendors’ billing offerings modernize technology, normalize technical approaches, and enhance solution configurability
Billing remains an essential part of service strategies, with insurers improving digital capabilities to support new payment methods, usage-based payment/billing, and the ability to deploy new products and billing plans rapidly.
Aite-Novarica Group’s new Market Navigator profiles 14 stand-alone billing systems for U.S. property/casualty insurers, summarizing the vendor organization, technology, differentiators, client base, supported lines of business, deployment options, implementation approaches, upgrades/enhancements, and key functionality. Vendors profiled are Axiom, Decision Research Corporation, Duck Creek, DXC, EIS, Guidewire, Input1, Insurity, Majesco, OneShield, Policy Administration Solutions, Sapiens, SpeedBuilder, and Ventiv.
Clients of Aite-Novarica Group’s Property & Casualty service can download this 125-page report.
Click here to access the report.
About Aite-Novarica Group
Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to hundreds of banks, insurers, payments providers, and investment firms—as well as the technology and service providers that support them. Comprising former senior technology, strategy, and operations executives as well as experienced researchers and consultants, our experts provide actionable advice to our client base, leveraging deep insights developed via our extensive network of clients and other industry contacts. For more information, visit aite-novarica.com.
Source: Aite-Novarica GroupTags: Aite-Novarica Group, billing, Duck Creek, dxc, EIS Group, Guidewire, Majesco, OneShield, Property/Casualty (P&C) insurance, report, Sapiens, United States (USA)