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  5. Life Insurers’ Perception of Policy Administration Systems: 2016 EMEA Edition

Life Insurers’ Perception of Policy Administration Systems: 2016 EMEA Edition

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18 May 2016
Nicolas Michellod

Abstract

In evaluating policy administration systems and their respective vendors, perspectives from the insurers working with them are very valuable.

Seventy-three life insurers in EMEA provided their evaluation of various policy administration systems offered on the market in 2015. To provide a time-series view on trends, Celent has compared the 2015 results with prior survey data from 2009, 2011, and 2013.

In evaluating policy administration systems and their respective vendors, perspectives from the insurers working with them are very valuable.

Seventy-three life insurers in EMEA provided their evaluation of various policy administration systems offered on the market in 2015. To provide a time-series view on trends, Celent has compared the 2015 results with prior survey data from 2009, 2011, and 2013.

This report details the survey results regarding insurers’ perspectives in terms of features/functions, ease of integration, IT vendors’ implementation capabilities and professional services, configuration capabilities based a specific scenarios, and business staff involvement in system changes. The last section of the report provides our recommendations for IT vendors and insurers.

“We recommend that policy administration system vendors continue to adapt their PAS offering, considering insurance companies’ priorities and anticipating regional preferences, because they differ across countries,” says Nicolas Michellod, a senior analyst with Celent’s Insurance practice and author of the report. “Like last year, we encouraged vendors to shape different marketing messages to match insurers’ system priorities in each geography.”

This page report contains 19 figures and three tables.

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