Policy Administration Systems: North American Individual Life Insurance Edition

4 July 2023

Nanda Rajgopal

2023 XCelent Awards, Powered by VendorMatch

Abstract

In this ninth installment of Celent's biennial look at policy administration systems (PAS) available to life insurers in North America, we profile 22 PAS in use or being marketed for North America individual life, pension, and annuities products. This analysis of vendors is targeted at insurers looking to update their core back office system to meet the digital needs of the future. There are 10 vendors or systems that qualified for Celent's ABC rankings and another 12 that are profiled but not included in the ABC analysis. Some vendors also appear in Celent’s companion rep0orts profiling these systems in Asia Pacific, Europe/Middle East/Africa, and Latin America.

Although this report represents the majority of PAS platforms available in the North American market, there is a small subset of platform providers that chose not to participate. Vendors and systems included in this report include: Accenture: Accenture Life Insurance Platform (ALIP); C2L Biz: SymbioSys (Life PAS); Calcfocus: Achieve; DXC Technologies: DXC ASSURE for Life and Wealth; Equisoft: Equisoft Manage; Evari: Evari Life Insurance; EXL: LifePro; FinTechOS: FinTechOS Platform; Genasys: Software Key to Insurance (SKi); Haven Technologies: Haven Administrator; Infosys: VPAS; Infosys: NGIN; Instanda: Instanda; LIDP: Titanium; Management Data Inc.: FIMMAS; Oracle: Oracle Insurance Policy Administration (OIPA); Penn River: Penn River Life and Annuity Platform; Sapiens: Sapiens CoreSuite L&A; Socotr: Socotra; TCS: TCS BaNCS for Life & Pension; Verisk FAST: Verisk’s FAST Platform; and Zinnia: Zahara.