Adminovate, Inc. (Philadelphia), a vendor of core insurance systems and consulting services to the life, health and annuity industries, and Montreal-based Xpertdoc have entered into a strategic alliance to provide an integrated offering that combines Adminovate’s forwardPAS policy administration system with Xpertdoc’s document output and client communication management solution. The partnership accords with insurers’ preference for including best-of-breed ancillary capabilities in their core system modernization efforts.
Xpertdoc’s capabilities complement rather than complete Adminovate’s capabilities, making it a richer offering, suggests Chad Hersh, a partner at research and advisory firm Novarica. “Since most policy administration don’t provide doc creation functionality, and rarely if ever include tools for form migration or include libraries of industry specific forms like ACORD or ISO forms. This is the gap that XpertDoc fills,” he comments. “Adminovate’s highly visual and graphical interface for both technical and business users lends itself nicely to integrating with an imaging and workflow solution, especially a thoroughly modern one like XpertDoc.”
forwardPAS, one of the newest policy administration systems developed for the life, health and annuity insurance industry, is described by the vendor as a fully flexible, end-to-end policy admin solution that provides unmatched speed-to-market through model driven product development. The integrated solution combines those qualities with the customer service automation capabilities enabled by forwardPAS’ modern technology architecture with the efficient, high-quality customer communications capabilities of the Xpertdoc system, according to an Adminovate statement. Both systems are cloud-ready. forwardPAS is available through a traditional license arrangement, a hosted solution, or via the SaaS delivery method.
The Adminovate/Xpertdoc alliance meets the appetite of insurance carriers who elect to buy rather than build when they modernize, according to Nicolas Michellod, a senior analyst with Celent. Of the 45 percent of insurers who choose the “buy” option, only about 30 percent prefer document automation capabilities included in a core system offering.
“This partnership between a core insurance system vendor like Adminovate and a dedicated document automation/customer communication management system vendor such as Xpertdoc is not the first in the industry and we think it is certainly not the last,” Michellod says. “We predict that more PAS vendors will look at best-of-breed components vendors to partner with and not only in the CCM area. Overall we think this trend is good for insurers and their clients and we encourage PAS vendors to improve their solutions thanks to these kinds of partnerships.”
“Adminovate and Xpertdoc have a similar view of the tremendous potential for technology in the insurance industry. It seemed a natural fit to bring our common passion for innovation and our respective solutions together to benefit insurers and help maximize the value from the most modern solutions available,” comments Chris Doggett, CEO, Adminovate. “With the Xpertdoc solution now pre-integrated with forwardPAS , we are able to provide clients additional options and capabilities for further automation and modernization of their back-office operations.”
“In times where insurers focus on digital transformation, advanced features offered by modern document automation systems like Xpertdoc Customer Communications Management Platform are key and policy administration vendors understand it is better to partner with a vendor that focuses on providing capabilities around interactive documents, multi-channel and trans-promotional communications, document tracking and others as they allow not only for better interactions with insurance customers but also optimization of processes,” Celent’s Michellod adds. “Indeed, it allows for the transfer of data from and to different components of an insurer’s application landscape with limited manual tasks. In addition, document automation system vendors have also strong capabilities to support multiple screen layouts and mobile technologies.”