Policy Administration Systems: North American Individual Life Insurance Edition

In this eighth installment of Celent's biennial look at policy administration systems (PAS) available to life insurers in North America, we profile23 PAS in use or being marketed for North America individual life, pension, and annuities products. This analysis of vendors is targeted at insurers looking to update their core back office system to meet the digital needs of the future. There are 11 vendors or systems that qualified for Celent's ABC rankings and another 12 that are profiled but not included in the ABC analysis. Some vendors also appear in Celent’s companion reports profiling these systems in Asia Pacific, Europe/Middle East/Africa, and Latin America.

Although this report represents the majority of PAS platforms available in the North American market, there is a small subset of platform providers that chose not to participate.

Figure 1: Policy Administration System Components and Functionality

Source: Celent