Find Indiviual / Group Life / Annuity / Pensions / Health Policy Administration and Servicing (PAS) systems on our financial technology solutions research platform. Use the directory for vendor discovery and use our guide to analyze, research, compare, and evaluate software including reports and RFIs on functionality used by financial institutions including insurers.
A policy administration system is a system of record containing current and historical information about policies issued by a life insurer. The system can also support other functions going from the front end like policy holder or medical providers portals to back-end components such as underwriting, claims, billing, etc. These are the core systems for an insurer and typically do the following: automatic processing such billing, anniversary processing, premium calculations, regulatory compliance, accounting extracts, and commission calculation, and processes policy changes, payments, withdrawals, fund updates, and nonforfeiture.