Select the Right Insurance Policy Administration System for Life and Annuity
Determine the value an effective PAS can bring to the business.
Meeting customer and business demands requires a PAS that is flexible, open, and highly automated. As AI continues to impact the life and annuity insurance market, your PAS must also provide access to your data. The ability to use internal and external AI tools will become increasingly important to the future of your company’s PAS, so you must ensure there is an integration path to enable these new features as they continue to emerge.
Our Advice
Critical Insight
- The PAS market continues to go through a period of increasing competition. As well, larger vendors are actively acquiring competitors’ products to round out their product offerings and to continue to modernize their offerings.
- It is important that you evaluate your specific requirements against the PAS vendor capabilities to ensure that you are selecting the PAS that will serve your life and annuity requirements.
Impact and Result
- Learn about the trends and deployment models within the policy administration system market.
- Define the organization’s key capabilities through cost and competitive advantages to understand the organization's current state and its PAS requirements, vetted through a value chain analysis.
- Review the vendors' functional criteria. Info-Tech analyzed eight of the dominant players in the PAS market to help you compare their functional capabilities.
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