December 18, 2018
Based on a Combination of Product Performance and Vendor Strength
Hartford, CT – December 18, 2018 — Insurity, Inc., a provider of a leading insurance platform that includes policy, billing, claims, data analytics, and digital enablement solutions, was named “Best-in-Class” for their Policy Administration Systems (PAS) in Aite Group’s latest report AIM Evaluation: PAS Vendors’ External Third-Party Data Integration Capabilities.
The Aite Impact Matrix (AIM), a proprietary Aite Group vendor assessment framework, evaluates the overall competitive position of each PAS vendor based on vendor stability, client strength, product features, and client services. The report includes thirteen of the leading PAS vendors in the property & casualty (P&C) insurance space with Insurity positioned closest to the center, representing the analysts’ highest collective rating for vendor strength and product performance. Specifically, Insurity secured best-in-class with 92% “Vendor Stability”, 97% “Client Strength” and 95% “Product Features” ratings.
“Insurity is proud to be recognized by Aite Group for our policy administration systems’ third-party data service integration capabilities,” says Michele Shepard, Chief Revenue Officer at Insurity. “As insurers begin to rely heavily on external third-party data to offer quicker and more efficient policyholder experiences, Insurity is best-positioned to provide the most seamless workflow integration enabling better decision-making across all lines of business.”
Insurity PAS solutions offer leading data capture and processing capabilities through an API-based microservices architecture. Insurity’s PAS solutions assessed in the report include:
- Policy Decisions: Supports the full policy lifecycle across all lines of business for highly-automated or heavily underwritten products on one platform, serving all user types for all distribution channels.
- Bridge Specialty: Purpose-built to handle the complexity of specialty lines of business, from quoting through renewal.
- Workers’ CompXPress: An integrated policy and billing system that allows clients to manage the entire life cycle of a workers’ compensation policy from application/quote to renewal or cancellation.
“PAS vendors are increasingly helping their carrier partners integrate external third-party data into core processes, such as underwriting and claims, as it becomes one of the defining factors of the data-driven insurance industry alongside the rising influx of new data types and growth in cloud adoption,” says Jay Sarzen, senior analyst at Aite Group. “Insurity is a leader in this area with a strong focus on its data capabilities, which includes predictive analytics and the absorption and routing of data across workflows with an open API ecosystem.”
With over 200 cloud deployments, Insurity’s cloud leadership and expansive third-party data integration services allow insurers to scale their business alongside rising data demands, and manage the data efficiently to produce actionable business intelligence within their platform.
Insurity, Inc. enables property & casualty insurers to transform their enterprise and achieve their business goals. Insurity’s core processing applications and data integration and analytics solutions are backed by rich insurance expertise and are in production with over 200 insurers, processing billions of dollars of premium each month. Insurity’s solutions address the needs of all carriers – from the Top 20 insurers to small or regional commercial, personal, or specialty lines writers, as well as MGAs. For more information about Insurity, call 860-616-7721 or visit insurity.com. Connect with Insurity on LinkedIn.