Insuranceciooutlook

Top 10 Policy Administration Solution Providers - 2016

With the insurance industry going through noteworthy changes and consolidations, the need to streamline insurance policy administration has become vital for the success of a business. An efficient policy administration system can execute a number of core policy processes including rating, quoting, binding, issuing, endorsements, and renewals. What carriers need is a policy administration system that is engineered to support their needs for growth, market demands, and operational efficiencies.

Policy administration systems built on cloud are helping insurers eliminate the complications and save time. The integrated environment on cloud automates numerous processes including quote generation and renewals among others. Further, the analytics components of these solutions help diminish the underwriting loss, by assessing the risk and determining the areas to be improved.

To help CIOs and CFOs find the right insurance policy administration solution provider for their enterprise, a team of prominent CEOs, CIOs, and VCs along with Insurance CIO Outlook’s editorial board has evaluated the best players in the space. The companies featured here demonstrate an ability to develop innovative technologies combined with outstanding customer service and talent base.

In our selection, we looked at the vendor’s capability to fulfill the burning need for cost-effective and flexible policy administration solutions that will add value to the insurance landscape.

We present to you the Top 10 Policy Administration Solution Providers 2016.

Company Logo Company Name Company Description
Adacta Developing and implementing business IT solutions for insurance and financial services, pharmaceutical and biotech and utility industries
Adaptik Provides P&C insurance carriers with on-premise and cloud software solutions that empower them to efficiently handle their most vexing challenges
CodeObjects Provider of adaptable insurance software applications for both Personal and Commercial lines of business
Echo Ridge Partners Echo Ridge Partners is a collaboration of creative, innovative experts who create affordable state of the industry policy administration systems
Exaxe Provides full policy lifecycle support, from initial fact finding and needs analysis to policy administration and payment of a claim
InsPro Technologies Provides comprehensive policy administration solutions for insurers, affinity organizations and third party administrators
Insuresoft Helps insurers to improve their underwriting and other policy processes with comprehensive functionality, third-party integration tools, and flexible workflows
LIDP Provides innovative solutions for life and annuity policy administration
Maximum Processing Provides web based integrable policy, billing, claims and reinsurance administration solutions to manage complexities for large businesses as well as small firms
Tritech Financial Systems A provider of a wide range of IT services and solutions for property and casualty insurance companies