Analyst Corner

Infosys McCamish named a Leader in Gartner’s 2019 Magic Quadrant for Life Insurance Policy Administration Systems, North America

One of the most critical factors for a stable and adaptable digital business technology platform is having scalable core systems that support continuous change. With the anticipated changes in the customer expectations and technology over the next ten years, CIOs will need to go for an adaptive digital technology framework in order to stay relevant in the business, and core insurance systems need to fit within that framework. As most life insurance IT system portfolios are not architected to support digital businesses, life insurance CIOs need to lay the groundwork for the iterative evolution of their digital business technology roadmap by modernizing their core systems. Keeping a lens into the North American market of life and annuity (L&A) insurers, Infosys McCamish has been named as a Leader in Gartner’s Magic Quadrant for Life Insurance Policy Administration Systems (PAS), North America 2019.

This report evaluates the North American market and vendors providing PASs. The evaluation will help life insurance CIOs and enterprise architects who are considering options for modernizing their core systems understand whether specific vendors would be able to address their current needs and those of their future initiatives.

Leader in Gartner’s 2019 Magic Quadrant for Life Insurance Policy Administration Systems

This graphic was published by Gartner, Inc. as part of a larger research document and should be evaluated in the context of the entire document. The Gartner document is available upon request from Infosys.

Key highlights

  • Infosys McCamish’s VPAS system provides support for L&A products, including individual and group, variable, fixed, indexed, and repetitive payment products as well as health and welfare products such as critical illness
  • Supporting 37 production customers in North America, including two in Canada, VPAS has one of the widest varieties of implemented insurance products across all life insurance product categories in its base system, providing an excellent starting point for insurance product configuration
  • Infosys McCamish has a proven private cloud-hosting ability, making it appealing to CIOs who are seeking an off-premises private managed solution
  • Infosys McCamish has a solid track record of successfully completing very large implementations, requiring hundreds of product builds, as well as single product launches for traditional and D2C product distribution
  • Infosys McCamish has one of the top third best-of-breed workflow and process management capabilities in the North American market, powered by Pegasystems; VPAS is fully integrated with Pega, and comprehensive workflow capability is embedded
  • The VPAS platform has well-developed group insurance capabilities, supporting core group insurance functionalities such as mass enrollment and list billing, and more advanced capabilities such as self-service enrollment and billing

Attribution:
Gartner, Magic Quadrant for Life Insurance Policy Administration Systems, North America, Richard Natale, 5 August 2019

Disclaimer:
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Register to read the full report.