Exigen Insurance Solutions®, a leading provider of insurance core systems delivered through an outcome-aligned business model, today announced it is the winner of the XCelent Award for Breadth of Functionality in Celent’s new Policy Administration System Vendors: North American Personal P/C 2011 report, which profiles 34 policy administration solutions.

“Exigen PolicyCore™ distinguished itself as an industry leader in this report, demonstrating the broadest functionality available to the market and an advanced technology set that together delivers big business value to insurers,” said Ben Moreland, senior analyst in Celent’s insurance practice and co-author of the report. “Exigen should be considered for any insurer’s short list for policy administration system alternatives and provides the end-to-end solution with BillingCore™ and ClaimCore™ for insurers that desire one integrated suite solution for all their insurance process requirements.”

“Exigen provides a very robust and easy to use policy administration solution with PolicyCore for the personal lines product space. They are growing their customer base on the commercial side as well,” states the report. “All references gave high marks for the underwriting, rating and service desktop, workflow and document automation features and functions. Most other feedback was very positive across the remaining features and functions. One reference went so far as to state they ‘wouldn’t change anything’ about the product, and another stated that product management and knowledge of business were two of Exigen’s strengths above their competitors.”

Highlighted in the report is Exigen Insurance’s Aligned Business Model, which is its preferred license model. The model is outcome-based and ties remuneration to successful implementation and operation of the solution. “The Aligned Business Model is a clear market differentiator for us,” says Fazi Zand, VP, marketing and business development, Exigen Insurance. “It has proven to be popular with customers for its ability to reduce implementation and operational risk and cost, and to drive rapid implementation.”

Commenting on the award, Gwen Spertell, president of Exigen Insurance Solutions, stated, “We are delighted that Celent recognizes our leadership role in providing insurers with solutions that deliver wide and deep value to their businesses. We are very appreciative of our customers whose support and partnership has helped us to continuously improve and enhance PolicyCore as the market-leading, value-oriented option for policy administration system replacement.”

To download a copy of the full report on PolicyCore, click here.