(4 votes, average: 4.5 out of 5)
Loading ...Gartner released a market overview specific to the insurance incentive compensation industry. For those who haven’t seen it or don’t have access to it, here is a summary of what I found to be the most interesting facts:
- There are 9 main ICM vendors in the life, property and casuality (P&C), and health insurance industry: ActekSoft, Callidus Software, CSC, CSSI, MajescoMastek, SAP, SunGard, Synygy and Versata.
- 2009 saw 30 new ICM insurance deals, 27 of which were in North America.
- Callidus Software closed 10 of these deals, while CSSI closed 7 and ActekSoft closed 5. (Callidus acquired ActekSoft two weeks after the release of this research).
- Gartner predicts another 30 deals for 2010.
- ActekSoft/Callidus received a positive rating, and so did Versata.
- I was surprised to find out that MajescoMastek only has customers in Europe and Asia.
- Of the 9 companies that made the list, Synygy received the lowest rating (caution).
The report notes that there is no clear leader in the insurance ICM space. However, now that Callidus Software and ActekSoft are one, combining their clients in the insurance industry yields an impressive count of 55. The runner-up in the list is SunGard with 32 clients.
If Callidus / ActekSoft manage to get their fair share of new customers in 2010, it looks like the space has found its leader!
Hello Julien. Thanks for sharing the data. The insurance vertical is clearly an important arena for SPM vendors in 2010. Due to the complexity of channel sales within the vertical, SPM is uniquely suited to drive strategic initiatives for insurance carriers. Merced Systems made our mark in 2009 with key wins at several large national P&C carriers and we are planning to expand our presence in the SPM space by entering the race for leadership within this vertical. What I was impressed with the most in 2009 was the appetite from executive leadership at large carriers for change management services. I spent much of last year supporting change initiatives to increase the immediate value received from SPM and I am looking forward to continuing those efforts. It should make the race for leadership in this vertical the one to watch in 2010.