Policy Administration Systems: North American Group/Voluntary Life Insurance Edition

5 July 2023

Nanda Rajgopal

2023 XCelent Awards, Powered by VendorMatch

Abstract

This report is the fourth in Celent’s biennial look at group and voluntary policy administration systems (PAS) available to life insurers in North America. It is targeted at insurers looking to update their core back office system to meet the digital needs of the future. There are a number of solutions to consider. Celent profiles 14 PAS in use or being marketed for the administration of North America group and voluntary life protection products, annuities, accident and health, and savings and pension products.

Although this represents the majority of PAS platforms available in the group and voluntary North American market, there is a small subset of platform providers that chose not to participate. There are nine systems that qualified for Celent's ABC rankings and another five that are profiled but not included in the ABC analysis. Vendors included in this report are CalcFocus, EIS, Equisoft, EXL, FINEOS, Infosys McCamish, LIDP, Management Data, Mphasis Wyde, Oracle, Sentro, Verisk FAST, and Vitech.

Policy Administration System Components and Functionality