SaaS Policy Administration Systems: The Time Is Now

SaaS Policy Administration Systems: The Time Is Now
SaaS has broken out of the enterprise category, and is making real headway in the heart of the insurance application stack: policy administration systems. Celent research on North America property/casualty policy administration systems finds that:
  • 42 out of 45 profiled North America policy administration systems can be licensed on a SaaS basis
The number of policy admin systems that have actually been SaaS licensed is smaller, but still impressive:
  •  Just under half (42%) of the policy administration systems have one or more insurers with a SaaS license
A deeper dive into the numbers shows that there is a lot of variability among policy administration systems regarding the proportion of SaaS licenses to all licenses—as measured by the Celent Insurance System SaaS Score, CISSS (SaaS licenses as a percent of all licenses)
  • About three-fifths of these systems have a CISSS score between 5% and 33%
  • And one-third have a CISSS score from 90% to 100%
With this solid foundation, SaaS’ core system growth prospects look bright.
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