User Guide for CELENT models including: Guidewire Claim Center, Guidewire Claim Center, Claim Center, Center
CELENT.WordReport.20210601.7
Carnahan, Karlyn
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032824 Claims Systems Guidewire APAC Reprint 2024 This is an authorized reprint of an excerpt from a Celent report. The reprint was prepared specifically for Guidewire, but Celent retained full control of the content. For additional information, please contact info@celent.com.
CLAIMS SYSTEMS VENDORS: ASIA PACIFIC P&C INSURANCE 2024 XCELENT AWARDS
POWERED BY VENDORMATCH
Max Ang February 29, 2024
Claims Systems Vendors: Asia Pacific P&C Insurance
Executive Summary
CONTENTS
Executive Summary ................................................................................3
Introduction ...........................................................................................4
Report Methodology ..............................................................................5
Evaluation Process ................................................................................................. 5 About the Profiles .................................................................................................. 5 Limitations ............................................................................................................. 6
Technical Capability Matrix and XCelent Awards....................................7
The Celent Technical Capability Matrix ................................................................. 7
Profiles .................................................................................................10
Guidewire Software: Guidewire ClaimCenter .......................................11
Concluding Thoughts ............................................................................21
For Insurers .......................................................................................................... 21 For Vendors ......................................................................................................... 21
Related Celent Research.......................................................................23
Leveraging Celent's Expertise ...............................................................24
Support for Financial Institutions ........................................................................ 24 Support for Vendors ............................................................................................ 24
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Claims Systems Vendors: Asia Pacific P&C Insurance
EXECUTIVE SUMMARY
Executive Summary
This report provides an overview of the claims administration systems available in Asia Pacific for property-casualty insurance carriers.
This authorized reprint contains material excerpted from a recent Celent report profiling and evaluating 16 different property and casualty claims systems available in APAC. The full report is 172 pages long and provides an overview of their functionality, customer bases, lines of business supported, technology, implementation, pricing, and support. This report was not sponsored by Guidewire in any way.
This reprint was prepared specifically for Guidewire , but the analysis presented has not been changed from that presented in the full report. For more information on the full report, please contact Celent at info@celent.com.
This year's XCelent award winners for Advanced Technology in APAC are: Bytesforce and Sapiens IDIT
This year's XCelent award winners for Breadth of Functionality in APAC are: Guidewire ClaimCenter and Sapiens IDIT
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Claims Systems Vendors: Asia Pacific P&C Insurance
INTRODUCTION
Introduction
Often referred to as the "moment of truth," the claim represents the fulfillment of the policy's promise: that customers will be indemnified and made whole after a loss. At the same time, claims are costly the biggest cost center of insurance, where the most revenue flows out, in the form of the payout to the customer. This means that the costs around claims are often targets for optimization. And it's in the selection and implementation of the claims administration platform where that optimization begins.
Extended claims cycle time correlates with dissatisfaction with an insurer. All the pressures that drive automation and digitalization elsewhere in the insurance value chain are magnified by the sheer volume of money associated with the claims process. Managing all these factors is asking a lot of a system. Therefore, when selecting a claims system, insurers must tread carefully.
Carriers' interest in claims is evidenced by Celent's 2024 Property/Casualty CIO Priorities and Pressures survey, where 36% of respondents noted they were currently replacing, beginning replacement, or making significant enhancements to their core claim system, and a further 21% said they had recently replaced their system.
This report profiles many of the property casualty claims administration systems available in Asia Pacific today. This report should help insurers define their core systems requirements and, where appropriate, create a shortlist of vendors for evaluation. Expanded claims functionality and improved technology mean that insurers continue to have a wide set of systems and vendors to consider when looking for a solution to fit their needs. Insurers are encouraged to contact the authors of this report through analyst access to learn more about the vendors and solutions.
In addition to this report, a companion report has been produced that in the past had been rolled into this report. Coming out alongside this one is "So You Want to Buy A Claims System", which outlines the latest developments in functional and technical capabilities in claim systems, along with a glossary and key components guide.
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Claims Systems Vendors: Asia Pacific P&C Insurance
REPORT METHODOLOGY
Report Methodology
In this report, Celent's objective is to include as many as possible of the leading claims administration systems being used or actively sold to insurers in APAC. Celent actively reviews vendor systems in the insurance software market and invites the vendors to participate in reports like these.
Evaluation Process
To analyze the capabilities of claims administration solutions that are active in the insurance marketplace, Celent sent an invitation to participate in this year's report to a broad set of claims vendors. There was no cost for vendors to participate.
Each participating vendor completed an online RFI in Celent's VendorMatch/RFX platform. The RFI requested information about the features provided in the solution, the technology and architecture, the current client base, the pricing models, and the vendor itself. RFIs were completed on sixteen products for APAC.
After completing the RFI, each vendor provided a 60- to 90-minute briefing and demo for Celent focusing on usability and functionality for everyday users, product and rules configurability for IT and system administration users, and the system's overall architecture.
The RFIs, demos/briefings, and reference surveys provided quantitative and qualitative data that was used in the analysis of these vendors. This process is described in the next section.
Vendors had an opportunity to review their profiles for factual accuracy and to provide their own perspectives but were not permitted to influence the evaluation.
Some of the vendors profiled in this report are Celent clients, and some are not. No preference was given to Celent clients for either inclusion in the report or in the subsequent evaluations.
About the Profiles
Each profile is structured the same way. Profiles present information about the vendor and its claims administration system offerings, geographic presence, and client base. Charts are used to provide more detailed information about specific features, such as lines of business supported, technology, and partnerships.
Each profile also includes an analyst opinion based on the information from the demo and RFI. The profiles are presented in alphabetical order.
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Claims Systems Vendors: Asia Pacific P&C Insurance
Report Methodology
Limitations
Celent recognizes that the strength of any claims administration system is somewhat dependent on an insurance company's needs and business. A solution ranked low in Celent's rankings may be a perfect fit for several insurers for various reasons, including price, business-specific functionality, target customer base, existing technology environments, or simple preference. For this reason, these rankings are purely the opinion of Celent. Insurers should use them in the context of their own specific situations.
Celent believes that this study provides valuable insights into current offerings in claims administration solutions. However, readers are encouraged to consider these results in the following context: the vendors self-reported. Participants in the study were asked to indicate which claims administration capabilities were provided in addition to providing generic information about their client base. Celent did not fully confirm the details provided by the participants, although the vendor demos allowed us to partially confirm some of the information.
A detailed list of vendors profiled in this report is shown in Table 1.
Celent used its unique VendorMatch platform to gather RFI data from each vendor. VendorMatch is the world's largest vendor and solutions data store--combined with analytical tools--to help financial institutions find, evaluate, and select a solution. Each profile contains a link to the solution's VendorMatch profile.
The RFI for this market research gathered information across multiple dimensions, including:
· Company information · Product overview · Specific information about the vendor and the system--including, among others:
Functionality Technology Implementation and support Commercial terms Customer base
As part of the VendorMatch RFI process, Celent gathered much more information about each solution than is reflected in this report. Subscription clients can leverage analyst access to connect with the author and learn more about the vendors. They can also use Celent's VendorMatch platform to review a vendor's online company and product profiles. Since the online database can be updated at any time, the online data may be more current than this report.
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Claims Systems Vendors: Asia Pacific P&C Insurance
Technical Capability Matrix and XCelent Awards
TECHNICAL CAPABILITY MATRIX AND XCELENT AWARDS
The Celent Technical Capability Matrix
We've placed each solution into one of five categories based on the sophistication and breadth of its technology and functionality. Solutions are not ranked within the assigned category; they are listed alphabetically.
The five categories are:
· Luminary: Excels in solution capabilities; generally has a leading market presence.
· Technology Standout: Excels in technology modernity, although often without the same depth of features as leading competitors. Frequently newer, these solutions have chosen a focused set of functions with which to begin their journey.
· Functionality Standout: Excels in functionality and likely to have a large installed base. Often more established, these solutions have built out a robust set of features over many years.
· Noteworthy Solution: Potential challengers to the more established competition. They may occupy a niche place in the market, whether by targeted use case, sectorleading features, client size, or geography.
· Developing Solution: Typically new to the market. They may have the potential to mature into a market challenger.
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Claims Systems Vendors: Asia Pacific P&C Insurance
Technical Capability Matrix and XCelent Awards
Figure 1: Celent Technical Capability Matrix Asia Pacific
Source: Celent
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Claims Systems Vendors: Asia Pacific P&C Insurance
Technical Capability Matrix and XCelent Awards
XCelent Award Winners
For the best of the best, taking into account not only their prowess in either technology or functionality, but also their customer base and the Celent analyst opinion drawn from their live demo, we once again are awarding the XCelent award. We award an XCelent award to the top performers in Advanced Technology and we also award the top performers in Breadth of Functionality with an XCelentAward. The winners of the XCelent 2024 Awards for Claims Administration Systems for the APAC region are:
This year's XCelent award winners for Advanced Technology are: Bytesforce and Sapiens IDIT
This year's XCelent award winners for Breadth of Functionality are: Guidewire ClaimCenter and Sapiens IDIT
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Claims Systems Vendors: Asia Pacific P&C Insurance
PROFILES
Profiles
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Claims Systems Vendors: Asia Pacific P&C Insurance
Guidewire Software: Guidewire ClaimCenter
GUIDEWIRE SOFTWARE: GUIDEWIRE CLAIMCENTER
Company and Product Snapshot
Table 1: Company Snapshot Year Founded Headquarters Number of Employees Revenues (USD) Financial Structure
VendorMatch Link
Source: Vendor RFI
2001 San Mateo, California 3,415 $8.126B Public company NYSE: GWRE https://www.celent.com/vendormatch/discover y/solutions/427621242
Table 2: Product Snapshot Name Year Originally Released Current Release and Date of Release Revenue Derived from the Product
R&D Expense
FTEs Providing Professional Services for Product Notable Clients
Source: Vendor RFI
Guidewire ClaimCenter
2003
Innsbruck 2023.3 | December 2024
Please refer to their Investor Relations site for all available financial information: http://ir.guidewire.com They do not report on revenue by product.
More than 35% of product revenue and slightly more than 30% of Guidewire's total revenue for FY23 was invested in research and product development
Guidewire does not provide this information at a product level.
Nationwide, Metlife, CNA, Aviva, Zurich, Allianz, AXA Asia, IAG, Icare, San Cristobal, Sancor Argentina, Suhai Brazil
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Claims Systems Vendors: Asia Pacific P&C Insurance
Guidewire Software: Guidewire ClaimCenter
Celent Opinion
Summary
Guidewire ClaimCenter stands out as a top-tier, fully cloud-native claims management solution, ideally suited for insurers seeking a comprehensive system with advanced features and extensive configurability. It excels in analytics, service management, and financial management, supported by a robust partner ecosystem. This system is especially suitable for organizations with skilled IT teams, looking to leverage cutting-edge, cloud-based technology for sophisticated claims management.
Strengths
· Guidewire ClaimCenter has made remarkable strides toward cloud adoption, fully embracing cloud-native capabilities. This transition demonstrates their commitment to modern, scalable, and flexible solutions, keeping them at the forefront of claims management technology.
· The introduction of Autopilot Workflow Service in ClaimCenter offers advanced workflow automation, streamlining claims processing and enhancing operational efficiency. This feature underscores the system's focus on innovation and user-centric design.
· ClaimCenter is known for having robust and differentiated analytical capabilities, including the ability to create unverified policies and precisely calculate percentages at fault and total loss.
· The system allows insurers to provide comprehensive services at the time of loss, including scheduling and auto-assignment of workload. Its adept handling of models and catastrophe scenarios is a testament to its operational proficiency.
· Financial management in ClaimCenter is robust, featuring auto reserving, granular options for reserving, auto-application of deductibles, bulk payments, and the automatic calculation of liens. Its integration with ODG and strong capabilities in medical case management, litigation, and subrogation underscore its all-encompassing approach.
· Guidewire's robust partner ecosystem, featuring preintegrated and preorchestrated processes and data, is a major asset, continuously enhancing the system's capabilities and extending its reach.
· ClaimCenter offers exceptional flexibility, allowing insurers to tailor it to their specific needs. ClaimCenter can be customized to perform virtually any function, aligning with the unique requirements of any organization.
Areas for Improvement
· The user interface, while functional, can be slightly improved for better user experience, as it currently includes many pop-ups and requires some scrolling.
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Claims Systems Vendors: Asia Pacific P&C Insurance
Guidewire Software: Guidewire ClaimCenter
· While Guidewire has a broad set of SI partners in North America and Europe, as they continue to expand beyond these regions, they would benefit from continuing to grow their SI partnerships in other regions.
Functionality
Table 3: Suite Availability
Availability
Policy Administration
Billing
Reinsurance
Rating Engine
Digital Tools
Distribution Management
Business Intelligence
Data Warehouse
Legend: = Integrated into the Module; = Separate Module available from this vendor; = Through another vendor; = Not available
Source: Vendor RFI
Table 4: Functionality
Category Desktop Data Services
Documents
Notes Supervisory Tools
Function
User desktop / workbench
Claims overview
Upload ACORD or FNOL
Integration and prefill with third party data Includes a correspondence and forms library Configurable business rules to support Includes a content repository and document management
Includes a notes facility
Ability to search text within notes and diaries
Escalation based on authority
Dashboard to manage employee's workload Automated underwriter assignment
In Production
Supported But Not in Production
Not Supported
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Claims Systems Vendors: Asia Pacific P&C Insurance
Guidewire Software: Guidewire ClaimCenter
Category
FNOL/FROI
Injury Management Claim Investigation
Reserving
Payments
Subrogation and Recoveries Fraud Litigation Management Vendor Management Reinsurance
Function
Out-of-office / vacation rules
Automatic task generation
Ability to consume FNOL from multiple sources
Supports submission of additional attachments
Can use party's preferred communication method
Location-based guidance at time of FNOL
Track utilization review and recertification
Can create, document, and track special programs such as return-to-work
Can display alerts
Can document the case strategy
Automatic ordering of third party data
Ability to specify automatic default initial reserves based on business rules
Multiple levels of reserve categories
Aggregate tracking (erosion of policy limits)
Deductible tracking
Recurring payments
Multiple pay parties (e.g., garnishments)
Ability to make bulk payments for a single vendor combined in a single disbursement
Separate tasks, workflow, diaries, and business rules for subrogated cases
Workflows specific to fraud and special investigations
Separate tasks, workflow, diaries, and business rules for litigated cases
In Production
Supported But Not in Production
Not Supported
Vendor management tools
Manually tag a claim when reinsurance applies
Automatically identify claims
subject to reinsurance
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Claims Systems Vendors: Asia Pacific P&C Insurance
Guidewire Software: Guidewire ClaimCenter
Category Catastrophe
TPA
Support for Lloyds Claims Processes
Function
Ability to define catastrophes
Automatic identification of cat claims
Ability to track hours/activities
Ability to manage different fee schedules Support for the Electronic Claims File (ECF2)
Support for ECF Write Back
In Production
Supported But Not in Production
Not Supported
= Available out of the box
= Configurable using simple tools for business user = Configurable using simple tools for IT user
Source: Vendor RFI
= Configurable through a scripting language/coding
= Available with integration to a third party solution
= Available with integration to a separate module provided by this vendor
= Under development / on road map
= Could develop, would be considered customization
= Not available / not applicable
Lines of Business Supported
Table 5: Lines of Business Supported
Line of Business
NA
EMEA
Personal Auto
Homeowners / Home
Renters / Contents
Umbrella
Commercial Auto
Commercial Property
Commercial Liability
Workers' Compensation
Medical Professional Liability
Other Professional Liability
Business Owners Policy (BOP)
Surety & Fidelity
Excess Policies
Directors and Officers Liability
Legend: = In production; = Supported but not in production; = Not supported Source: Vendor RFI
APAC
LATAM
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Claims Systems Vendors: Asia Pacific P&C Insurance
Guidewire Software: Guidewire ClaimCenter
Customer Base
Table 6: Client Base by Size and Deployment Option (Global)
140
51 24 11
Tier 1 20 55
Tier 2 36 26 5 1
Tier 3 37 10 9 7
Tier 4 33 73 1
Tier 5 14 3 2
Agents/Brokers
2
Self-insureds of any size
TPA/BPO service...
Reinsurance Companies
MGAs
NA
EMEA APAC LATAM
NA EMEA APAC LATAM
9% 8%
0% 20% 40% 60% 80% 100%
NA
67%
33%
EMEA 41%
81%
19%
APAC
88%
13%
LATAM
86%
14%
42%
Personal
Commercial
Workers Comp Specialty
Source: Vendor RFI
On-premise at the customer On-premise at a partner On-premise at the vendor/software provider Private cloud Public cloud
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Claims Systems Vendors: Asia Pacific P&C Insurance
Guidewire Software: Guidewire ClaimCenter
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Table 7: Implementations by Country
Region North America Europe
Middle East Africa Asia-Pacific Central America South America Caribbean
Source: Vendor RFI
Countries Canada, United States Belgium, Denmark, Finland, France, Germany, Italy, Luxembourg, Poland, Switzerland, United Kingdom
South Africa Australia, China, Hong Kong, Japan, New Zealand Mexico Argentina, Brazil, Colombia, Peru Puerto Rico
Technology
Table 8: Technology Options
Technology Options
Responses
Code Base
GOSU: 13%; Java: 86%; Other: 1%
Integration Methods
Web services; XML (not through web services); HTML; HTTP; RESTful HTTP-style services; JSON format; MQSeries/JMS/Similar queue technology; Custom APIs; Flat files; Native messaging; Other
API Details
The API is documented
External systems can trigger an event in the
system, which can be responded to by a
workflow or business rules system
API management supports local or global
standards, such as ACORD application
creation and rendering
API sample codes are available to clients
API developer portal is available for support and descriptions
API testing portal and the ability to use scripts on website is available
The system allows API publishing in SOAP,
REST, JSON, and XML-style services as APIs
API version management is available
Access to the APIs is managed, and use of
APIs tracked by developers
Legend: = Available; = Not available
Training in extending the system is offered
Source: Vendor RFI
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Claims Systems Vendors: Asia Pacific P&C Insurance
Guidewire Software: Guidewire ClaimCenter
Table 9: SaaS Capabilities
Elements Support a multi-tenant architecture
Type of effort required to update the solution
Cadence of upgrades for multi-tenant deployments Deployment approach supports elasticity
Current APIs-related strategy
Ability of the deployment model to leverage a serverless approach Ability to enable independent services (microservices) Proportion of the system architected as microservices Support automation of development and deployment processes (DevOps) Ability to run and deploy under containers to improve the application deployment Need for containerization to run in a cloud Ability of the system's functions and capabilities to be distributed among a private cloud and a public cloud
Legend: = Yes = No Source: Vendor RFI
Availability Automated scripts Mostly automated Not disclosed Yes, within less than a day Preconnected cloud environment (fully connected and ready to use)
25% to 50%
Table 10: Change Tooling and Upgrades
Types of Changes
Availability
Business Rule Definition
Data Definition
Table Maintenance, List of Values, etc.
Interface Definition
Product Definition
Role-Based Security, Access Control, and Authorizations
Screen Definition
Workflow Definition
Legend: = Configurable via tools for business users; = Configurable via tools for IT users; = Configurable via the vendor; = Configurable via scripting; = Coding required; = Not available
Source: Vendor RFI
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Claims Systems Vendors: Asia Pacific P&C Insurance
Guidewire Software: Guidewire ClaimCenter
Table 11: Public Cloud Options
Providers
NA
EMEA
Microsoft Azure
Amazon AWS
Google Cloud Platform (GCP)
Alibaba Cloud
IBM Cloud / Bluemix
Oracle Cloud
Salesforce Cloud, Force.com, AppExchange
Other
Legend: = In production; = Supported but not in production; = Not supported Source: Vendor RFI
APAC
LATAM
Partnerships
Table 12: Implementation and Support
Type of Partnership System Integrators
Fintech Partners
Source: Vendor RFI
Partner Vendor
There are currently more than 23,000+ technology consultants, systems integrators, and solution providers. These partners provide consulting services such as business transformation and strategy, implementation, and related delivery services. For a complete listing of partners, please visit https://www.guidewire.com/partnerconnect /.
ACI Worldwide, FISPAN, Imburse, Prelude
InsurPay, One Inc., Vpay, Split Limit, Commerce Bank
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Claims Systems Vendors: Asia Pacific P&C Insurance
Guidewire Software: Guidewire ClaimCenter
Implementation, Support, and Pricing
Table 13: Implementation, Support, and Pricing
Typical Implementation Team Size Resource Breakdown Location of Employees
Average Time to Implementation
Pricing Models
Source: Vendor RFI
20 to 30
Vendor: 10%; Client: 30%; Third party: 60% As of July 31, 2023, Guidewire had 1,709 employees in the United States and 1,706 employees internationally. Initial Implementation: 7 to 12 months 2nd and subsequent line of business: 1 to 3 months 2nd and subsequent states/jurisdictions: 1 to 3 months Subscription-based license
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Claims Systems Vendors: Asia Pacific P&C Insurance
CONCLUDING THOUGHTS
Concluding Thoughts
For Insurers
There is no "one-size-fits-all" claims solution, but insurers can take comfort in the fact that there are myriad options to fit almost any set of requirements. An insurer seeking a new core claims system should begin the process by looking inward. Every insurer has its distinctive mix of lines of business, geography, staff capabilities, business objectives, and financial resources. This unique combination and the organization's risk appetite will influence the list of vendors for consideration.
Some vendors are a better fit for an insurance company with a large IT group that is deeply proficient with the most modern platforms and tools. Other vendors are a better fit for an insurance company with a small IT group that wants the vendor to take a leading role in maintaining and supporting its applications.
Most core claims systems bring some level of out-of-the-box functionality for various lines of business and operating models. Many systems offer powerful configuration tools to build capabilities for both known and future requirements.
We recommend that insurers looking for a claims system narrow their choices by focusing on four areas:
· The functionality needed and available out of the box for the lines of business and states desired. Check to see what is actually in production.
· Technology--the integration framework, the overall architecture, and the configuration tools and environment.
· Vendor stability, knowledge, and investment in the solution. · Implementation and support capabilities and experience.
For Vendors
There has been considerable investment among solution providers to differentiate themselves from their peers. Many of today's claims admin systems are mature. The solutions deliver robust functionality, improve configuration tools, and are more connected with APIs. Cloud implementation is also becoming table stakes.
Although these trends are beneficial for insurers, they make the competitive challenges facing vendors much more daunting.
Celent recommends vendors differentiate themselves by:
· Focusing on improving usability for both new and experienced users and managers. · Emphasizing ease of use.
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Claims Systems Vendors: Asia Pacific P&C Insurance
Concluding Thoughts
· Building an ecosystem of claims-focused established tech solutions and insurtechs that integrate with the claims admin solution.
· Making implementation faster and less expensive.
· Continuing to move to open APIs and other integration frameworks to drive the easy orchestration of processes and data across external digital capabilities.
· Continuing to build out configuration environments to put change controls in the hands of the carriers.
· Investing in AI and specifically Gen AI to compete with the advancing consumerization and worker expectations for this new technology.
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Claims Systems Vendors: Asia Pacific P&C Insurance
RELATED CELENT RESEARCH
Related Celent Research
So You Want to Buy A Claims System February, 2024
Dimensions: IT Pressures and Priorities 2024: Asia-Pacific Edition February 2024
ITC 2023 - A Summary Of Legacy Transformation Sessions February 2024
Parametric Insurance: Pioneering Resilience In The Face Of Social And Climate Change December 2023
Technology Trends Previsory: P&C Insurance, 2024 Edition November 2023
Beyond Human Intelligence: Unleashing The Power Of Large Language Models In P&C Insurance September 2023
Extracting Value From 'The Air Up There' March 2023
How SaaSy Are You?: Fact Checking the Ambiguity of SaaS Dimensions January 2023
Insurance Fraud Detection Solutions: 2022 Property Casualty Insurance Edition A Celent Solution Scape: Powered by VendorMatch September 2022
Taking a Pulse on Touchless Claims: An Industry-Wide Survey August 2022
Oman Insurance: Touchless Motor Vehicle Claims March 2022
Exploring The Wide World of P&C Claims Insurtechs Cutting Though The Noise February 2022
Unlocking The Value of Touchless Claims August 2021
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Claims Systems Vendors: Asia Pacific P&C Insurance
LEVERAGING CELENT'S EXPERTISE
Leveraging Celent's Expertise
If you found this report valuable, you might consider engaging with Celent for custom analysis and research. Our collective experience and the knowledge we gained while working on this report can help you streamline the creation, refinement, or execution of your strategies.
Support for Financial Institutions
Typical projects we support include:
Vendor short listing and selection. We perform discovery specific to you and your business to better understand your unique needs. We then create and administer a custom RFI to selected vendors to assist you in making rapid and accurate vendor choices.
Business practice evaluations. We spend time evaluating your business processes and requirements. Based on our knowledge of the market, we identify potential process or technology constraints and provide clear insights that will help you implement industry best practices.
IT and business strategy creation. We collect perspectives from your executive team, your front line business and IT staff, and your customers. We then analyze your current position, institutional capabilities, and technology against your goals. If necessary, we help you reformulate your technology and business plans to address short-term and long-term needs.
Support for Vendors
We provide services that help you refine your product and service offerings. Examples include:
Product and service strategy evaluation. We help you assess your market position in terms of functionality, technology, and services. Our strategy workshops will help you target the right customers and map your offerings to their needs.
Market messaging and collateral review. Based on our extensive experience with your potential clients, we assess your marketing and sales materials--including your website and any collateral.
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COPYRIGHT NOTICE
Copyright 2024 Celent, a division of Oliver Wyman, Inc., which is a wholly owned subsidiary of Marsh & McLennan Companies [NYSE: MMC]. All rights reserved. This report may not be reproduced, copied or redistributed, in whole or in part, in any form or by any means, without the written permission of Celent, a division of Oliver Wyman ("Celent") and Celent accepts no liability whatsoever for the actions of third parties in this respect. Celent and any third party content providers whose content is included in this report are the sole copyright owners of the content in this report. Any third party content in this report has been included by Celent with the permission of the relevant content owner. Any use of this report by any third party is strictly prohibited without a license expressly granted by Celent. Any use of third party content included in this report is strictly prohibited without the express permission of the relevant content owner This report is not intended for general circulation, nor is it to be used, reproduced, copied, quoted or distributed by third parties for any purpose other than those that may be set forth herein without the prior written permission of Celent. Neither all nor any part of the contents of this report, or any opinions expressed herein, shall be disseminated to the public through advertising media, public relations, news media, sales media, mail, direct transmittal, or any other public means of communications, without the prior written consent of Celent. Any violation of Celent's rights in this report will be enforced to the fullest extent of the law, including the pursuit of monetary damages and injunctive relief in the event of any breach of the foregoing restrictions.
This report is not a substitute for tailored professional advice on how a specific financial institution should execute its strategy. This report is not investment advice and should not be relied on for such advice or as a substitute for consultation with professional accountants, tax, legal or financial advisers. Celent has made every effort to use reliable, up-to-date and comprehensive information and analysis, but all information is provided without warranty of any kind, express or implied. Information furnished by others, upon which all or portions of this report are based, is believed to be reliable but has not been verified, and no warranty is given as to the accuracy of such information. Public information and industry and statistical data, are from sources we deem to be reliable; however, we make no representation as to the accuracy or completeness of such information and have accepted the information without further verification.
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For more information please contact info@celent.com or:
Max Ang
mang@celent.com
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+44.20.7333.8333
Asia-Pacific
Japan Midtown Tower 16F 9-7-1, Akasaka Minato-ku, Tokyo 107-6216
+81.3.6871.7008
Hong Kong Unit 04, 9th Floor Central Plaza 18 Harbour Road Wanchai
+852 2301 7500
Singapore 8 Marina View Asia Square Tower 1 #09-07 Singapore 018960
+65 6510 9700
References
Adobe PDF Library 23.8.53
Salesforce Salesforce Platform for Application Development | Salesforce US
Overview | Guidewire Software, Inc
Beyond Human Intelligence: Unleashing the Power of Large Language Models in P&C Insurance | Celent
PartnerConnect | Guidewire