Report overview
Life insurance policy administration software helps insurers manage life and annuity insurance policies. Life insurance policy administration systems allow insurers to develop and administer new life, annuity, pension, and health insurance products for clients. Using life insurance policy administration software systems, organizations can design new policies, calculate policy costs, and maintain a record of policies issued to clients. Some systems offer libraries of prebuilt insurance product features that reduce time to market. Life insurance policy administration software systems are commonly used by enterprise insurance organizations to manage existing policies and develop new insurance products. These systems can improve policy flexibility and administration. Life insurance policy administration software systems can be implemented either as a standalone solution or as part of an integrated insurance suite.
This report contains market size and forecasts of Life Insurance Policy Administration Systems in Global, including the following market information:
Global Life Insurance Policy Administration Systems Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global top five companies in 2021 (%)
The global Life Insurance Policy Administration Systems market was valued at million in 2021 and is projected to reach US$ million by 2028, at a CAGR of % during the forecast period.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Hardware Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Life Insurance Policy Administration Systems include Accenture, Andesa Services, Concentrix, CSC (CyberLife), CSC (Wealth Management Accelerator), EXL, FAST Technology, Infosys McCamish and InsPro Technologies, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
We surveyed the Life Insurance Policy Administration Systems companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Life Insurance Policy Administration Systems Market, by Type, 2017-2022, 2023-2028 ($ millions)
Global Life Insurance Policy Administration Systems Market Segment Percentages, by Type, 2021 (%)
Hardware
Software
Services
Global Life Insurance Policy Administration Systems Market, by Application, 2017-2022, 2023-2028 ($ millions)
Global Life Insurance Policy Administration Systems Market Segment Percentages, by Application, 2021 (%)
Insurance Company
Others
Global Life Insurance Policy Administration Systems Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)
Global Life Insurance Policy Administration Systems Market Segment Percentages, By Region and Country, 2021 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Life Insurance Policy Administration Systems revenues in global market, 2017-2022 (estimated), ($ millions)
Key companies Life Insurance Policy Administration Systems revenues share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
Accenture
Andesa Services
Concentrix
CSC (CyberLife)
CSC (Wealth Management Accelerator)
EXL
FAST Technology
Infosys McCamish
InsPro Technologies
Majesco
MDI
Mphasis Wyde
Oracle
Sapiens and Vitech Systems Group
Instanda
Andesa
