Boston, March 31, 2016 – Legacy systems hinder the life and annuity industry’s success and prevent carriers’ agility in meeting marketplace demands. New policy administration systems not only manage the full life cycle of a product but also meet carriers’ need for new product development and mobile and digital technology. The ability to do business anywhere and on any device, and provide a best-of-breed customer experience, are table stakes that can be obtained with the right PAS.
This report is based on over 30 qualitative interviews with life insurance IT executives and vendors and provides a business view of the life and annuity industry’s need for a new PAS. It overviews vendors’ solutions and how they impact the challenges the industry is looking to overcome, how they differentiate their products, and how carriers can identify the best solution to fit their needs. It also profiles the following vendors in detail: Accenture, Andesa Services Inc., Concentrix Insurance Solutions, Computer Sciences Corporation, EIS Group, EXL, Fast, FIS, InsPro Technologies, LIDP Consulting Services, Majesco, Management Data Inc., Oracle Corporation, Sapiens, se2, Step Solutions, StoneRiver Inc., Vitech Systems Group Inc., and Wyde.
This 49-page Impact Report contains eight figures and four tables, and it mentions LIMRA. Clients of Aite Group’s Life Insurance service can download this report.