Insuranceciooutlook

Top 10 Core Systems Solution Providers 2015

The effective implementation of core systems integrated with the latest technologies is the mantra for success in the insurance industry. Insurance companies are looking to do away with legacy systems that are rendered obsolete in this rapidly evolving technological sphere. To meet its aggressive growth agenda, insurers need a scalable system architected on the modern platform, such as Java or .NET. However, a large area of interest where investors are eying their focus on is the development of cloud, as cloud-enabled solutions can take flexibility and scalability for insurers to a whole new level.

Technological advancements are also changing customer expectations, and while it’s important to cater to the customer’s needs, the key driver for any successful business remains profitability. Hence the core systems in place need to be such that insurers retain profits while also maintaining a competitive advantage with new products and exceptional customer service. The core systems should also be able to support the full insurance lifecycle including rating, underwriting, policy administration, billing, claims, and customer engagement. Further, CIOs expect their core systems to be able to handle and house the large amount of data collected on each policyholder.

The core systems should be designed so as to have the flexibility to manage the full insurance lifecycle across multiple lines from a single platform. Keeping that in mind, Insurance CIO Outlook has extensively surveyed the market to chart out the top core system providers for the insurance industry, presenting the Top 10 Core System Solution Providers.

Company Logo Company Name Company Description
Agile Financial Technologies Provider of on-demand software solutions focused on insurance companies, enabling business prpocess consulting, outsourcing and Infrastructure and managed services
Delphi Technology Provider of Software solutions for insurance companies enabling optimization of business processes, streamlining operations and increase operational efficiency
Eis Group Provider of end-to-end core software solutions for Insurance companies helping manage cost efficiency and customer management
Fineos FINEOS is a global market leader in core insurance technology forDisability, Life, Accident and Health
Insurity Provider of Software solutions for large and small insurance companies delivering balance between rich content, flexible and modular deployment
iPipeline Provides a next-generation suite of sales distribution software to the insurance and financial services markets through its on-demand service
Majesco Provider of Insurance software solutions for core functions including policy Administration, Underwriting, New Business Processing, Billing, Claims, Product Modelling, Incentive Compensation and Producer Lifecycle Management
Sapiens Provider of software solutions for the insurance industry, with an emerging focus on the broader financial services sector
xuber Provides comprehensive suite of complementary solutions across the entire insurance value chain
Zywave Zywave offers high-impact technology solutions and services for independent insurance brokers around the world