Gartner Research

Critical Capabilities for Life Insurance Policy Administration Systems, North America

Summary

The COVID-19 pandemic has created operational challenges for the insurance industry unlike any before. As CIOs shift from response and recovery to renewal, they will need to close policy administration capability gaps to establish a solid foundation for the future.

Published: 24 August 2021

ID: G00734625

Analyst(s): Richard Natale Rajesh Narayan

Table Of Contents

Overview

What You Need to Know

Analysis

  • Accenture (ALIP)
  • Andesa Services (AFAS)
  • DXC Technology (Assure Life and Wealth)
  • EIS (EIS Suite)
  • EXL (LifePRO)
  • FAST (FAST)
  • illumifin (CXFusion Suite)
  • Infosys McCamish (VPAS)
  • Majesco (Majesco Policy for L&A and Group)
  • MDI (FIMMAS)
  • Mphasis Wyde (Wynsure)
  • Oracle (OIPA)
  • QLAdmin Solutions (QLAdmin)
  • Socotra (Policy Administration)
  • Vitech (V3locity)
  • Rule and Calculation Management
  • New Business Management
  • Workflow and Process Automation
  • System Modularity and Integration
  • Policy Life Cycle Management
  • Digital Business Support
  • Straight-Through Processing
  • Reporting and Data Management
  • Group Enrollment Functionality
  • Group Claims Functionality
  • Group Billing Functionality
  • Individual New Business Capability
  • Group/Worksite Enrollment, Claims and Billing
  • Individual/New Business Onboarding/STP
  • New Product Development/Launch
  • Policy/Contract Change
  • Digital User Support

Inclusion Criteria

Gartner Recommended Reading

Critical Capabilities Methodology

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