BSB has been positioned the furthest for 'ability to execute' within the Challengers quadrant

Louvain-la-Neuve, 25 November, 2013 - Of 40 providers of life insurance administration systems tracked across Europe, Gartner, Inc has evaluated 14 providers and positioned BSB as a "Challenger" in its "Magic Quadrant for European Life Insurance Policy Administration Systems" for the fourth consecutive year and published on August 6th , 2013.

"BSB's positioning by Gartner in the Magic Quadrant is very rewarding and we see this as market recognition of the added value delivered by Solife software and confirmation of the relevance of our continuous investments in delivering a unique package" says Nicolas Bonmariage, Product Strategy Manager, BSB.

Gartner's 2013 Magic Quadrant is a snapshot of the market for European life insurance policy administration systems. Gartner based its evaluation on a "vendor's ability to execute" and the "completeness of vision". Challengers are positioned on the "ability to execute" axis where there are five of seven criteria weighted "high" by Gartner and BSB is positioned the highest in this category. This specific evaluation covers the product and or service itself (like quality, feature sets and skills), the vendor's viability (the capacity to continue investing in the product), its sales executions and pricing (sales performance), its market responsiveness and track record (ability to respond to market and customers needs for change), marketing execution, the customer experience, and operations.

Gartner takes into account the vendor's product offering and overall strategy coupled to planned initiatives and product roadmap. The ability to adapt to market changes is also considered in the assessment. 

Flexibility and cost control are the cornerstones of Solife, which is designed to manage all types of life insurance contracts at individual and group level. It is a packaged offer, which combines market agility with a low cost base, flexible distribution tools and a rich set of web-based services.

Solife supports the development and launch of new products and their management and is also central to BSB's Closed Books Plus offer for the conversion of Closed Books onto an outsourced platform. This approach transforms insurers' business by giving them access to a modern PAS and a platform purposely designed to lower the operational burden and cost of managing run-off policies. Solife is used by almost 30 insurance companies in 14 countries.

Source: Gartner, Magic Quadrant for European Life Insurance Policy Administration Systems, Juergen Weiss, August 6, 2013.

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