Toronto, CANADA, July 12, 2004, illustrate inc, a leading developer of policy illustration solutions to the Canadian life insurance industry was recently one of eight companies analysed and profiled in an independent study conducted by Celent Communications. The report, released in June, profiles in detail the technology, overall functionality and service offerings of eight providers of illustration software to the life insurance and annuity industry in North America. In gathering information for the study, Celent examined the products and services of leading illustration system vendors and conducted client reference interviews for each participant.
The Celent report identifies trends that will drive decision-making around illustrations for the next few years, including: an emphasis on vendor-based components over totally-custom systems; continued slow migration to Web-based systems; growing interest in common calculation engines; slow consolidation on vendors that provide more robust capabilities, and; improved integration across all new business functions.
In concluding the profile of illustrate inc in the vendor report, Celent stated, “Celent believes that illustrate inc’s intense focus on client needs, the company’s expertise in the Canadian market, its philosophy of providing user-level tools, and continued improvements to its core products make the company a solid option for Canadian carriers.”