On a macro level, Latin American economy has little improved since our report two years ago. This has made insurers keep updating and modernizing their core systems at the same pace as the last few years.

Core system modernization is about establishing a platform that will allow an insurer to execute the business decisions it needs to succeed in an increasingly unknowable, but probably disruptive, future. Innovation is difficult to pull off unless it is built on the solid foundation of a modern, data-rich, and configurable policy administration system.

This report is the seventh in Celent’s biennial look at policy administration systems (PAS) available to life insurers in Latin America. This report profiles 15 PAS in use or being marketed for Latin American life and annuities products.