Analyst Corner

Infosys McCamish (VPAS) Received Highest Scores in 2 Out of 5 Use Cases in Gartner’s 2019 Critical Capabilities Report

“Improved business agility, legacy system inflexibility, and time to market are top reasons why CIOs from North American life insurers seek a new policy administration system. While most life insurance PAS architectures in North America are based on SOA principles, few vendor’s services are independently deployable with a level of granularity that implements a single feature or function. Almost half of Magic Quadrant vendors self-identify their solution as being monolithic.

Life insurance CIOs need to assess that their policy administration system (PAS) has technical and architectural characteristics that support adaptability and change. Finding the right PAS is no easy task for CIOs. The North American life insurance policy administration system market is characterized by large and small vendors, most of which have a long heritage, each having a variety of capability nuances that CIOs will need to weigh. Features and functions, such as portals, business intelligence and analytics, might be useful PAS add-ons for some CIOs, but not for others.”

Infosys McCamish (VPAS) received highest scores in 2 out of 5 Use cases in 2019 Critical Capabilities for Life Insurance Policy Administration Systems, North America. We received highest score in:

  1. Group/Worksite Enrollment, Claims and Billing – 4.41/5
  2. Individual/New Business Onboarding/STP – 4.32/5

Our scoring in other 3 Use cases is as follows:

  1. New Product Development/Launch – 3.63/5
  2. Policy/Contract Change – 3.79/5
  3. Digital User Support – 3.52/5

Please click here to read the full report.

Attribution:

Gartner, Critical Capabilities for Life Insurance Policy Administration Systems, North America, Richard Natale, 9 September 2019

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