Prominent Analyst Firm Recognizes Pegasystems for Insurance Claims Solution
CAMBRIDGE, Mass. – April 12, 2012 – Pegasystems Inc. (NASDAQ: PEGA), the leader in Business Process Management (BPM) and software for customer centricity, today announced it has been recognized in a report issued by Gartner, a leading independent technology research firm. Pegasystems was placed in a select group in the report titled, “MarketScope for North American Property and Casualty Insurance Claims Management Modules.”*
Gartner research and client inquiry demand show a continued interest among North American property and casualty insurers in deploying stand-alone claims management modules to replace legacy claims systems supporting commercial, personal and specialty lines of business, the report states. It is critical that buyers select vendors with a compelling industry vision, a modern technology architecture, an ability to execute, and a commitment to innovation and continued product enhancement.
Insurers leveraging Pega’s innovative, customer-centric technology have created competitive advantages by improving the operational efficiency of their claims organizations. Pega clients deploy innovative claims solutions designed to drive efficiencies across lines of business, channels and geographies. The results are differentiated claims solutions that reduce leakage and indemnity costs while simultaneously improving the service experience.
According to the report, “To achieve the most business value, claims management systems must support the entire claims lifecycle. This includes a set of functions, tasks and subtasks that handles first notice of loss (FNOL), claims setup, reserves, assignment, investigation, litigation, settlement, and administration and reporting. …More advanced solutions include rule engines and workflow capabilities to automate activities, and they incorporate data and analysis from third-party systems and services to achieve faster, more informed decisions.”
Quote & Commentary:
Leo Sugg, Insurance Business Leader for Pegasystems
“We believe being listed by Gartner in this well-followed report affirms the many successes our insurance clients have achieved, including increased customer loyalty and faster, more efficient claims handling, from first notice of loss to subrogation. Our Build for Change® technology drives a myriad of efficiencies for insurers, and those who take a customer-centric approach continually see improved and predictable business outcomes.”
To read more about Pega insurance customers’ successes, visit: http://www.pega.com/about-us/company/customers
About the MarketScope
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
*Jeff Haner, Gartner, “MarketScope for North American Property and Casualty Insurance Claims Management Modules”.