Austin, TX, USA, Jan. 20, 2026 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Life Insurance Policy Administration Systems Market Size, Trends and Insights By Technology (Cloud-Based, On-Premise, Hybrid), By Type (Individual Life Insurance, Group Life Insurance), By Application (New Business Processing, Underwriting, Policy Administration, Claims Management, Billing and Accounting), By Deployment (Single-Tenant, Multi-Tenant), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025 – 2034” in its research database.
“According to the latest research study, the demand of the global Life Insurance Policy Administration Systems Market size & share was valued at approximately USD 3.1 Billion in 2024 and is expected to reach USD 3.2 Billion in 2025 and is expected to reach a value of around USD 5.9 Billion by 2034, at a compound annual growth rate (CAGR) of about 6.8% during the forecast period 2025 to 2034.”
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Overview
According to industry experts at CMI, Innovations such as robotic process automation, cloud-native solutions, and application programming interface (API) technology are transforming policy, claims, underwriting, and customer service management across the globe in the insurance industry and in related sectors, like fintech, insurtech and global policy management.
Contemporary policy management (PM) software and service solutions (PAS) support unprecedented levels of data and information interoperability, real-time and automated process management, and secure digital transactions. The emergence of mobile-first insurances, interlinked economies of cloud technology, and digital financial infrastructures is making multiplicative improvements in the global real-time order execution, reliability, and precision of insurance policy management.
Key Trends & Drivers
- Growth of APIs, Artificial Intelligence, and Insurance Cloud Technology: PAS developers like Majesco, Sapiens, Oracle, and FIS are embedding automation of underwriting, policy, claim, and compliance processes through the application of AI, predictive analytics, and low-code API technologies. These solutions enable fraud management, automated report generation, and real-time policy touchless servicing for insurance organizations, which in turn improve operational transparency and efficiency in addition to process speed.
- Broadening Across Insurance Enterprises and Insurtech Ecosystems: In response to the expansion of digital insurance offerings, global insurance organizations, domestic insurance participants and Insurtech new ventures are modernizing insurance policy management with cloud solutions as their legacy systems are being replaced. With cross-board alliance, cloud systems, and micro-structured application software, global insurance systems are enabling digital-first insurance offerings.
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- Analytics, Real-Time Monitoring & Intelligent Workflows: AI-enabled claims monitoring, automated document processing, behavioral risk scoring, and real-time dashboards provide greater visibility and accuracy throughout the insurance value chain. PAS provides greater control, less manual processing and errors, and smoother work and customer journey hands off to insurers and policyholders.
Report Scope
| Feature of the Report | Details |
| Market Size in 2025 | USD 3.2 billion |
| Projected Market Size in 2034 | USD 5.9 billion |
| Market Size in 2025 | USD 3.1 billion |
| CAGR Growth Rate | 6.8% CAGR |
| Base Year | 2025 |
| Forecast Period | 2025-2034 |
| Key Segment | By Technology, Type, Application, Deployment and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
(A free sample of the Life Insurance Policy Administration System report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- The updated report for 2025 includes an introduction, an overview, and an in-depth industry analysis.
- Provide detailed chapter-by-chapter guidance on the Request.
- Updated Regional Analysis with a graphic Representation of Size, Share, and Trends for the Year 2025
- Includes Tables and figures have been updated.
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the Life Insurance Policy Administration System report has been modified to include the COVID-19 impact study prior to delivery.)
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SWOT Analysis
- Strengths: The major players – Oracle, Majesco, Sapiens, FIS, and DXC Technology – developed strong global presence and sophisticated AI, cloud technology, and analytics. These companies’ scalable PAS technology provides automation, regulatory compliance, flexible product configuration, and operationally efficient PAS technology to insurers around the globe.
- Weaknesses: Some factors, including high costs of modernization, migration of legacy systems, and regulatory changes differ across geographies. These factors slow the adoption of the technology, especially for mid-tier players. Other users of PAS technologies may find it hard to follow the rules for integration, operations, and compliance.
- Opportunities: Digitalization of operational processes in insurance providers in the Asia Pacific, Latin America, the Middle East, and Africa is in the surging demand for cloud native PAS technologies. The focus is on automated underwriting, AI-enabled claims, and digital distribution channels. Both mid-tier and large players in insurance have noted an increase in PAS adoption for efficiency and customer experience.
- Threats: Increased competition from software vendors, insurtechs, and market niche policy vendors has increased market competition. Uncertainties in regulations, cybersecurity, and data privacy all carry significant risks. Rapid changes in technology may outpace an insurer’s ability to modernize IT systems, impacting the competitiveness of the insurer in the long run.
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Key questions answered in this report:
- What is the size of the Life Insurance Policy Administration System market, and what is its expected growth rate?
- What are the primary driving factors that push the Life Insurance Policy Administration System market forward?
- What are the Life Insurance Policy Administration System Industry's top companies?
- What are the different categories that the Life Insurance Policy Administration Systems Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Life Insurance Policy Administration System market sample report and company profiles?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2025−2034
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Perspective
North America Life Insurance Policy Administration Systems Market: North America is the largest and most developed PAS market due to deep insurance market penetration, digital capability, and regulatory supervision (NAIC, state insurance mandates) sophistication. Insurers modernize legacy cores, reduce processing times, automate underwriting, and improve the customer experience gap through the adoption of cloud PAS and AI. The region’s accelerated digital onboarding, predictive risk analytics, and automated claims processing all contribute to the increased adoption of PAS.
- USA: U.S. insurers report PAS API use to digitize new business processing, streamline underwriting, automate claims assessments, and ensure regulatory compliance efficiency. AI engines with risk scoring, fraud detection, and the ability to customize policies in real-time improve the underwriting process. Life insurers also improve customer lifetime value through CRM, health data exchanges, PAS, and financial planning tool integrations.
- Canada: Canadian insurers use cloud-based PAS solutions to make digital onboarding easier and keep policy management secure, efficient, and compliant with OSFI. The use cases are digital claims processing, eKYC, automated billing, and the combined multi-product policy. These areas primarily drive insurance adoption.
- Mexico: Mexico cannot ignore its expanding digitization in the insurance and regulatory sectors. Mexican insurance companies use PAS systems to have uninterrupted visibility in real time when processing underwriting, premium billing, and claims. Insurance companies gain the ability to launch new products in the cloud quickly, are compliant with all regulations, and administratively run their companies more efficiently with technology. New life and group insurance products can be launched more efficiently.
Europe: Strong regulations, including Solvency II, govern the European insurance market. The European market is digitized and has rapidly migrated to the cloud. Insurance technology in the European Market has implemented advanced solutions for the automation of PAS systems: AI and machine learning, predictive analytics for claims, risk evaluation, automation for regulatory requirements, and fraud management. European insurance companies are trendsetters, adopting PAS systems in multi-tenant systems to maximize their profit by reducing costs and increasing market scalability.
- Germany: German insurance companies use PAS systems, developed solutions, and APIs to automate their underwriting, policy compliance, and multibenefit policy automation. German companies use enhanced analytics to eliminate location barriers and improve document management.
- UK: The United Kingdom also has a digital insurance market, and insurance companies there are also using PAS systems to streamline the processes of real time policy management, automated new business underwriting, and auto-scription. New products in PAS systems are launching rapidly in cloud technology, from old products in term life to new products in life insurance for critical illness and income protection insurance.
- France: French insurers use AI-PAS to assist with improving claims evaluations and decision-making on group and individual life products, as well as automating regulatory compliance reports. PASs allow multiple channels of engagement with clients and simplify the collection of premiums.
Asia-Pacific: The rapid growth of the APAC PAS market is due to the rapid expansion of Fintech, life insurance, and digital regulations. AI driven PAS with cloud technology enables underwriting, digital claims, and real-time service. PAS operates across various regulatory frameworks. Mobile distribution embeds insurance.
- China: Chinese insurers have automated and scaled data reconciliation, claim adjudication, and policy dispatch using PAS. PAS is AI-enhanced underwriting.
- India: Indian insurers deploy AI to PAS to automate the onboarding of new businesses, fraud, and policies. Its cloud-based PAS allows scalability by insurance providers with greater speed and in accordance with the Insurance Regulatory and Development Authority of India’s measure of digital-first insurance designs.
- Japan: Japanese insurers implement PAS to attain instant policy service, integration of data among old systems, and claims. Health data systems and financial institutions converge through the use of APIs.
LAMEA: Digital banking, insurance, and fintech activity in LAMEA are integrating and growing, which encourages investment in various processes. Cloud adoption and modernization of legacy systems that allocate real-time servicing, compliance, and automated claims management in the built systems are the top priorities for insurers.
- Brazil: The Brazilian insurance industry uses PAS API for automated account consolidation, policy issuance, digital claims workflow, and operational efficiency. Cloud-based PAS systems are responsive to changes in regulations and customer needs.
- Saudi Arabia: To address the Saudi central bank’s SAMA evolving regulations, Saudi insurers are adopting AI-driven PAS for policy lifecycle automation, transparency in claims, and automation in underwriting.
- South Africa: South African insurers use PAS for policy access, claims workflow automation, and digital data management. Insurers use remote based cloud systems to access the insurers' PAS and to operate in remote areas.
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List of the prominent players in the Life Insurance Policy Administration Systems Market:
- Majesco
- Accenture Life Insurance Solutions Group
- Accenture Plc
- Oracle
- Insurity
- EXL
- Infosys
- FAST Technology
- Edlund
- EIS Group Inc.
- AgencySmart
- Others
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The Life Insurance Policy Administration Systems Market is segmented as follows:
By Technology
- Cloud-Based
- On-Premise
- Hybrid
By Type
- Individual Life Insurance
- Group Life Insurance
By Application
- New Business Processing
- Underwriting
- Policy Administration
- Claims Management
- Billing and Accounting
By Deployment
- Single-Tenant
- Multi-Tenant
Click Here to Get a Free Sample Report of the Global Life Insurance Policy Administration Systems Market @ https://www.custommarketinsights.com/report/life-insurance-policy-administration-system-market/
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
This Life Insurance Policy Administration Systems Market Research/Analysis Report Contains Answers to the following Questions.
- What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Life Insurance Policy Administration Systems Market? What are the company profiles, product information, and contact details for these key players?
- What Was the Global Market Status of the Life Insurance Policy Administration Systems Market? What Was the Capacity, Production Value, Cost, and PROFIT of the Life Insurance Policy Administration Systems Market?
- What Is the Current Market Status of the Life Insurance Policy Administration System Industry? What's the market's competition in this industry, both company-wise and country-wise? What's Market Analysis of Life Insurance Policy Administration Systems Market by Considering Applications and Types?
- What Are Projections of the Global Life Insurance Policy Administration System Industry Considering Capacity, Production, and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply, and Consumption? What about imports and exports?
- What is a Life Insurance Policy Administration System market chain analysis of upstream raw materials and downstream industries?
- What is the economic impact on the Life Insurance Policy Administration System industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are the Market Dynamics of the Life Insurance Policy Administration Systems Market? What Are Challenges and Opportunities?
- What Should Be the Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for the Life Insurance Policy Administration System Industry?
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Reasons to Purchase Life Insurance Policy Administration Systems Market Report
- The Life Insurance Policy Administration Systems Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
- Life Insurance Policy Administration System The Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- Life Insurance Policy Administration Systems Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprise a company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- Recent developments, including growth opportunities and drivers, as well as challenges and restraints in both emerging and developed regions, shape the industry's current and future market outlook.
- Life Insurance Policy Administration Systems Market: Includes in-depth market analysis from various perspectives through Porter's five forces analysis and offers an overview of the market through the value chain.
Reasons for the Research Report
- The study provides a thorough overview of the global Life Insurance Policy Administration System market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established leaders drive market growth.
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What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Life Insurance Policy Administration System market analysis.
- The report covers the competitive environment of current and potential participants in the Life Insurance Policy Administration System market, along with their strategic product development ambitions.
- This study conducts a qualitative and quantitative analysis of the Life Insurance Policy Administration System market based on the component, application, and industry vertical. Additionally, the report provides comparable data for the key regions.
- The report provides actual market sizes and forecasts for each segment mentioned above.
Who should buy this report?
- Participants and stakeholders in the worldwide Life Insurance Policy Administration System market should find this report useful. The research will be useful to all market participants in the Life Insurance Policy Administration System industry.
- Managers in the Life Insurance Policy Administration System sector are interested in publishing up-to-date and projected data about the worldwide Life Insurance Policy Administration System market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Life Insurance Policy Administration System products' market trends.
- Analysts, researchers, educators, strategy managers, and government organizations seek market insights to develop plans.
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