Fiserv was one of five policy administration system suppliers evaluated by Gartner in the report for market understanding, product strategy, system capabilities, overall viability and customer experience. In the report, Gartner states insurers that avoid dealing with aging policy administration systems will not be able to adapt quickly to business changes or build and deliver products and services quickly, accurately and cost-effectively.
The Java-based Policy STAR solution by Fiserv is a single system supporting 17 personal and commercial lines of business and providing insurance carriers efficient, flexible policy administration. The system can be configured to support a variety of products without technicians, which enables insurers to quickly deliver new products to market. System users have online, real-time capability for quote and policy processing functions. Policy STAR features an open architecture, which allows integration with existing systems.
âWe are pleased to receive this rating as a supplier of an advanced policy administration system that assists insurers in conducting business effectively on a daily basis,â said Gary Sherne, president of P&C Systems Solutions for Fiserv Insurance. âFiserv is committed to enhancing Policy STAR and will concentrate on capabilities that will help move us into a âStrong Positiveâ rating in the future.â
The MarketScope is copyrighted February 22, 2007 by Gartner, Inc. and is reused with permission. The MarketScope is an evaluation of a marketplace at and for a specific time period. It depicts Gartnerâs analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the MarketScope, and does not advise technology users to select only those vendors with the highest rating. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.