Deal Trends and Projections in the Life and Health PAS Market: 2016 Latin American Edition
Celent has released a new report titled Deal Trends and Projections in the Life and Health PAS Market: 2016 Latin American Edition. The report was written by Luis Chipana, analyst in Celent’s Insurance practice.
During the past two years, life insurers continued their trend of buying new policy administration systems for new product lines including group and voluntary. Newer systems continued to see momentum in sales.
This report provides a view of deal and trends in policy administration systems in the property & casualty market in Latin America.
“Life, annuity, and health policy admin systems in Latin America will continue at a steady pace during mid-2015 to mid-2017,” says Chipana. “While many insurers have already replaced legacy systems, there is a significant number which have not. The same business drivers which have influenced purchase decisions will continue: the need to control loss adjustment expense, the importance of reducing PAS leakage (and thereby the loss ratio), and the focus on claimant experience.”
Celent also projects the dollar value of policy administration system deals in each tier during 2016–2017. The estimates are based on the number of deals, the average first year license, and the average first year amount spent on other implementation costs (for implementation professional services, either with the distribution management system vendor or a systems integrator).
This 18-page report contains 10 figures.