Boston, March 28, 2018 – Life insurance carriers are looking to develop more digital claims processes to support the beneficiary experience as well as to improve on the operational costs. But life insurance carriers in the U.S. looking to improve their current tools without replacing their core policy administration system have limited options. Only a handful of technology vendors, recognizing the need to support the U.S. life insurance industry’s mission to upgrade claims tools as well as carriers’ inability or refusal to invest in a complete PAS, offer stand-alone claims systems.
Leveraging the Aite Impact Matrix (AIM), a proprietary Aite Group vendor assessment framework, this report evaluates the overall competitive position of five vendors offering stand-alone claims systems to the U.S. life insurance industry: EIS, FINEOS, Intellect SEEC, Oracle/Equisoft, and Vitech. This report is based on 24 qualitative Aite Group interviews and quantitative surveys with life insurance IT executives, and with technology vendors currently offering a stand-alone life insurance claims solution in the U.S.
This 42-page Impact Report contains 16 figures and 11 tables. Clients of Aite Group’s Life Insurance service can download this report, the corresponding charts, and the Executive Impact Deck.