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  5. Life Insurance Policy Administration Systems: Are implementation expectations being met?

Life Insurance Policy Administration Systems: Are implementation expectations being met?

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22 April 2020
Karen Monks

2020 North American Edition

Abstract

In an about face from the 2017 results, customer feedback from clients of life insurance policy administration systems in North America gave much improved ratings to their vendors and systems. Technology, functionality, configuration and integration capabilities have improved. Advancements in APIs and cloud deployments have helped improve client perceptions of systems.

Forty-three North American life insurers provided an evaluation of a policy administration system sold by one of the vendors in the Celent's 2019 North American individual life PAS report and the upcoming North American group life PAS report. Client references were provided by the vendors as part of the Celent ABCD evaluation process. To provide a time-series view on trends, Celent compares the 2019 results with prior survey data from 2017, and for some areas, 2015 and 2013.

Insurer Satisfaction with Vendor Implementation Services and Support, 2015–2019

Sources: Celent 2019, 2017, and 2015 NA Life/Annuity/Pension PAS Vendor Reference Surveys

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