Deal Trends and Projections in the Life and Health PAS Market: 2016 Latin American Edition

by Luis Chipana, October 4, 2016
Product Trends/ Reviews
Latin America

Abstract

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.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Introduction

2

 

Key Research Questions

2

 

Report Approach

3

 

Report Limitations

3

The Latin American Life, Health, and Annuity PAS Market

4

 

Policy Admin Systems in Production by Size of Insurer

4

 

Client Implementations by Country

4

 

Mexico and Brazil

5

 

Established Vendor Market

6

 

Size of Vendor Client Base

6

 

Estimated Market Share

7

Recent Life/Annuity/Health PAS Software Deals

8

Life/Annuity/Health PAS Market Size Estimates

10

 

Projecting Life/Annuity/Health PAS Deals

10

 

Projecting the Life/Annuity/Health PAS Market Size

11

Conclusion

12

 

Advice for Latin American Life/Annuity/Health PAS Vendors

12

 

Advice for Latin American Insurers

12

Leveraging Celent’s Expertise

14

 

Support for Financial Institutions

14

 

Support for Vendors

14

Related Celent Research

15

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