The insurance market is the sector that is facing the digital revolution in the most disruptive way: the consumer habits have changed, new technologies have led to the convergence of traditional and new media, supplying and monitoring insurance projects must increasingly meet reliability, efficiency, speed and simplicity criteria.
Every two years, Celent, a division of Oliver Wyman, reviews vendor systems in the insurance software market. Celent has developed an ABCD framework for evaluating vendors. This is a standard representation of a vendor marketplace designed to show at a glance the relative positions of each vendor in four categories: Advanced and agile technology, Breadth of functionality, Customer base (i.e., relative number of customers), and Depth of client services.
RGI has achieved another important milestone, winning the Celent Customer based 2018 award with PASS_Insurance as part of their 2018 review of personal, commercial and specialty policy administration systems in Europe, the Middle East and Afirca. RGI PASS_Insurance is a comprehensive component-based core system which supports the entire insurance cycle with multi-company, multi-territory, multi-currency and multi-language capabilities to allow the processing capabilities in core insurance areas including policy administration, product design, new business underwriting, billing, Life, Non-Life, claims and distribution management.
A platform capable of combining all of the main business lines and processes with a flexible underwriting and distribution solution helping the Insurer to adapt, in the fastest and most efficient way possible, to changes in the market.
“PASS_Insurance has grown up in a very digital and challenging market” says Nicolas Michellod – Senior Analyst at Celent. “The tool is clearly a strong fit for insurers in countries around Europe that are facing similar challenges” he adds.
“We are delighted that PASS_Insurance has been chosen, among other solutions, by the majority of Insurers in the Non-life business in EMEA, with over €21 billion of annual premium income managed. Through this we have digitalised the business of over 100 Insurers and over 300 brokers” – said Elena Pistone, Marketing, external relations and Intermediaries Director of RGI.
“With this award we have once again demonstrated our ability to support Insurers during the digital transformation process, to act as an important point of reference in the digital insurance world and to keep growing in EMEA” – concluded Elena Pistone.
Celent’s report provides an overview of the digital solutions available in Europe, the Middle East and Africa for Insurers that work in the Non-life business.
Nicolas Michellod of Celent, an expert of the European Insurance Market, has spoken about it during the last Annual Assicurazioni, the leading conference in the Italian insurance sector.