Boston, November 17, 2016 - Aite Group has released the findings for the top 2016 insurance policy administration system vendors, identifying the leaders in nine different award categories. Insurance carriers rely heavily on their PAS to help them conduct their everyday business. When selecting a PAS vendor, carriers often just review a system’s specifications, but many PAS vendors’ offerings have become very similar over the years, making it tough for carriers to distinguish among offerings.
Aite Group’s PAS award categories examines the firms behind the software to help carriers get a sense of what the vendor focuses on, how financially stable a vendor is, where its priorities lie, and what types of clients it typically works with.
“A PAS is often one of the largest investments an insurance carrier will make. Thus, it is critical that a carrier have as much information as possible at its disposal. Understanding the software is important, but equally important is understanding the company behind the software,” says Aite Group senior analyst Jay Sarzen.
Aite Group’s latest report, U.S. P&C Insurance Policy Administration System: Selected Performance Metrics, profiles 24 vendors and, based on the vendors’ priorities and stability, awards gold, silver, or bronze medals to the top three vendors in each category.
Of the 24 vendors profiled, 19 vendors received one or more of the Aite Group PAS awards: Adaptik, BriteCore, Duck Creek, EIS, Guidewire, Insurity, Majesco, Maple Technologies, Maximum Processing, NTT, Oceanwide, OneShield, PCMS, Prime TGI, SAP, Sapiens, Solartis, and Unirisx.
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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 on the web and connect with us on Twitter and LinkedIn.