Gartner defines the non-life-insurance platform market in Europe as composed of offerings that support insurers through a combination of core systems and key technologies focused on customers, partners, data or things. These core platforms include elements such as: Core systems, including core modules for: Policy management, which provides full, end-to-end policy management and issuance functionality — including (but not limited to) quoting, rating, underwriting, policy generation and statistical reporting. Billing management, which supports the entire insurance billing and collections cycle, including (but not limited to) functionality such as electronic bill presentment and payment (EBPP). Claims management, which combines claims administration and business process management (BPM) to support every phase of the end-to-end claims process for non-life insurers, from first notice of loss (FNOL) through settlement and reporting.
A P&C insurance core platform is a single or modular solution that offers a complete system of record for policy issuance, billing and claims management for multiple lines of business. It also incorporates components to deliver customer, employee or partner experiences; data and analytics; integrations; and access to third-party technology solutions. * Policy management, which provides full, end-to-end policy management and issuance functionality — including quoting, rating, underwriting, policy generation and statistical reporting * Billing management, which supports the entire insurance billing and collections cycle, including functionality such as electronic bill presentment and payment (EBPP). * Claims management, which combines claims administration and business process management (BPM) to support every phase of the end-to-end claims process for property and casualty (P&C) insurers, from first notice of loss (FNOL) through settlement and reporting.
Software as a service (SaaS) property and casualty (P&C) insurance core platforms enable insurers to support the administration of a range of P&C insurance products. They provide full product life cycle support by offering functionality, applications, services and content in a secure, cloud-based environment, offered as a service using subscription pricing. They encompass a single predefined and marketed core solution, either as a suite of preintegrated modules or a single application, supporting policy administration, billing and claims management. They also incorporate additional components to deliver customer, employee or partner experiences; data and analytics; integrations; and access to third-party technology solutions. SaaS P&C insurance core platforms enable P&C insurance companies to manage and administer the entire life cycle of insurance policies and scope of products. They are mission-critical systems for insurance companies, foundational for digital optimization and enablers for digital transformation.