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

Celent profiles 19 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 eight systems that qualified for Celent's ABC rankings and another eleven that are profiled but not included in the ABC analysis.

To help financial institutions better understand the vendor landscape and compare vendors, Celent developed its ABC methodology, which positions and awards vendors across three dimensions: Advanced Technology, Breadth of Functionality, and Customer Base and Support. Eight systems fully met the inclusion criteria for Celent’s ABC vendor view as described in the “Report Methodology” section of this report. Ten additional vendors that did not meet the ABC criteria are also profiled; these vendors are either new market entrants or, for a variety of reasons, did not fully meet the inclusion criteria. For a full list of vendors in this report, see the Table of Contets.

Policy Administration System Components and Functionality

Source: Celent