Life/Annuity/Benefits Policy Administration Systems

Report Summary

Life/Annuity/Benefits Policy Administration Systems

Deb Zawisza
Senior Principal
Nancy Casbarro
Senior Principal
Robert McIsaac
Head of Life Insurance, Annuities, and Benefits

June 2021 - New life/annuity/benefits PAS deployments are part of a broader strategy for line of business management, allowing for the quick implementation of new (and sometimes greenfield) operations without becoming encumbered with legacy business processes or structures. This report provides an overview of the available policy administration systems and suites for US life/annuity/benefits insurers. The report contains profiles of 23 vendor solutions, summarizing the vendor organization, technology used, differentiators, client base, lines of business supported, deployment options, implementation approaches, upgrades/ enhancements, and key functionality.

Vendors included: Accenture, Andesa Services, CalcFocus, Concentrix Corporation, DXC, EIS, EXL, FAST (a Verisk company), FINEOS, FIS, Infosys McCamish Systems LLC, iPipeline, LIDP, Majesco, Management Data Inc, Mphasis, Oracle, Penn River, Sapiens, Socotra, Tata Consultancy Services, and Vitech Systems Group.

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