U.S. P&C Core Systems Evaluation: Moving Beyond the Basics
Aite Group’s new report finds that the market for core systems platforms is healthy, with carriers in need of systems that do more
Boston, MA (Dec. 3, 2019) – While underwriting and actuarial expertise are critical for property and casualty insurance carriers, without core systems platforms, executing a carrier’s operations would be extremely cumbersome, and it is imperative for carriers to have a platform that can help them execute core business functions. Aite Group’s latest report, 2019 U.S. P&C Core Systems Evaluation: Moving Beyond the Basics, explores some of the key trends within the core systems market for P&C carriers and discusses the ways in which technology is evolving to address new market needs and challenges.
“When it comes to key functionality, a set of minimum requirements must be met in order to sustain the basic needs of the clients, and these minimum requirements are typically the same across the different regions and are found in nearly all vendors in the market,” explains Jay Sarzen, senior analyst at Aite Group. “In order to increase overall adoption and capture additional market share, vendors are focused on developing functionality that presents competitive differentiators,” he adds.
Leveraging the Aite Matrix, a proprietary Aite Group vendor assessment framework, this Impact Report evaluates the overall competitive position of 16 vendors, focusing on vendor stability, client strength, product features, and client services. This report profiles Beyontec, BriteCore, Decision Research Corporation, DXC Technology, EIS, Guidewire (Insurance Now and PolicyCenter), Instanda, Insuresoft, Insurity, Majesco, OneShield, SAP, Sapiens, Socotra, and SpeedBuilder Systems.
Click here for the online report summary or to download the table of contents.
This 94-page Impact Report contains 19 figures and 56 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 Activer Solutions, AdvantageGo, AGO, CHSI Technologies, CodeObjects, Delphi Technology, Duck Creek, eBaoTech, Ebix, Epic-Premier, Finys, FIS, Instec, Insurance Systems Incorporated, Janus Technologies, Maple Technologies, MFX Services, NTT Data, Origami Risk, PA Solutions, PCMS, Silvervine Software, Solartis, Sunlight Solutions, and Ventiv Technology.
Click here for the online summary or to download the table of contents.
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
Tags: Aite Group, core systems, Duck Creek, EIS Group, Guidewire, Insurance Systems Inc. (ISI), Insurity, Majesco, NTT DATA, OneShield, OneWorld Instech, SAP, Sapiens, United States (USA)Read the original article at Insurance-Canada.ca