Guidewire received the most positive feedback in an Aite Group survey of 19 P&C claims executives by Stephen Applebaum, senior analyst Property & Casualty Insurance, which revealed perceptions of claims management system software and claims analytics vendors.
Guidewire was the only vendor to be perceived “positively” by more than half of the respondents, Aite says. SAP, followed by Fiserv and Accenture, also received noticeably positive feedback; “Don’t know” was the most popular response for the other vendors listed in the claims management category.
When it came to insurers’ perceptions of claims management costs, the responses were nearly identical with Guidewire leading the way.
The survey, titled "North American P&C Vendors: Partners in Claims Excellence," also asked the same questions of claims analytics solution vendors. Verisk/ISO was perceived most positively in terms of both performance and cost. In terms of perceived analytics performance, IBM followed in second; SAS and CSC tied in third with LexisNexis just behind them.
The report noted that none of the respondents indicated using IBM’s SPSS system (as was the case with Detica’s NetReveal, which received one positive nod and seven “Don’t know”s), yet there were plenty of positive perceptions of IBM’s solution, “which suggests [the product is] being effectively used and marketed within the industry.”
When it comes to the cost of analytics solutions, Verisk took the top spot again, while MSB and CSC followed in a tie for second.
Another category assessed was vendor management systems. Performance Gateway was perceived most positively in terms of both performance and cost. ClaimForce and NuGen IT were placed a distant second and third, respectively, behind Performance Gateway in both categories.
Other categories included in the report are automobile repair and property loss estimating software, casualty management software, FNOL services, insurance replacement rental cars, total loss vehicle valuation, salvage management, collision repair, independent adjusters and appraisers, litigation and subrogation management. In other words, it has a much broader claims vendor scope than just claims management systems and analytics.
The report also outlines the stark shift enterprises have taken from a product-centric model to a customer-centric one. This new paradigm has led to advertising campaigns solely bent on promoting a company’s responsiveness and quality of claims service.
Respondents to Aite’s online survey include claims executives from North American P&C insurers from all tiers and lines of business.
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