Celent consulting firm in Boston announced that it has published a report that provides a detailed look at 27 policy administration system vendors for specialty, excess and surplus lines of business from around the globe.

"This year has seen continued interest in core systems replacement among property-casualty insurers," said Celent. "In the unique and competitive specialty, excess and surplus markets, insurers require a policy administration solution that can accommodate an ever-changing set of product configurations and operating models."

The report, "Policy Administration Systems for Specialty, Excess, and Surplus Insurers," examines the vendors that serve specialty insurers in the United States, Canada, Bermuda, European and London markets, the firm said.

Celent noted that it defines specialty insurance as covering complex and/or unusual commercial risks.

"The five broad functional areas found in policy administration systems for specialty lines--underwriting desktop, rating engine, policy administration, billing and outward (or ceded) reinsurance--are also found in any complete, modern policy administration system. What differentiates the policy administration systems in this report is their ability to meet the unusual product configuration needs of specialty, excess and surplus lines of business," Celent explained.

The report provides individual profiles for each solution that covers company background, geographies served, client base, product features, lines of business supported and technology stack. The report also includes graphics with a comparative view of vendors in each geographical area for quick reference, said Celent.

Further information is available at info@celent.com.

Celent helps financial institutions formulate comprehensive business and technology strategies.

Special Reports /

Report Looks At Policy Administration System Vendors

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