Best Life Insurance Policy Administration Systems

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 these 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 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 systems can be implemented either as a standalone solution or as part of an integrated insurance suite.

To qualify for inclusion in the Life Insurance Policy Administration category, a product must:

  • Facilitate the definition, testing, and distribution of new life insurance products
  • Facilitate management of client life, annuity, pension, and health policies
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    Oracle Insurance provides adaptive, rules-driven systems that let insurance companies easily change business processes as their business needs change.

    CyberLife is a Web-enabled, n-tiered system that provides cost-effective administration of life and annuity products.

    ServiceNow Agent Intelligence uses machine learning to automatically categorize, route, and prioritize issues. It learns from patterns in your historical data, becoming increasingly accurate in its predictive recommendations.

    Instanda is a quick, easy and affordable package for brokers and insurers to design and distribute insurance products online. This fully hosted and completely managed toolkit lets you reach customers through your own online sales channel – as soon as your product is ready.

    EXLs LifePRO administrative solution was developed specifically to take advantage of client server technology,

    Employee benefit plans are here to stay. Help your customers make them easier to select and afford.

    Omni-Channel Policy, Benefit Plan and Customer Insurance Applications in the Cloud

    VPAS Life enables online access to information about your life insurance products.

    Life insurance agency back office system for new business, inforce, commission and agent compliance. Meets ACORD and CITS standards

    ALIP is an insurance policy software that helps life and annuity carriers transform to the new, digital, connected market.

    Andesa Policy Administration System began as a pioneer in the field of corporate- and bank-owned policy administration.

    Aquila is part of aquilaheywood, life and pensions administration software solutions.

    The Administrator™ platform is a powerful back-office engine with integrated digital solutions that drives your whole policy administration operation from case management and servicing to product configuration, reporting and member communications.

    Axelerator Policy Admin is a customer centric, smart, real time, highly configurable, web-enabled, rule-based technology that supports the full lifecycle of a policy including Pre-assessment, Needs Analysis, Quote/Proposal, Calculation engine, Application, Personal Statement, Underwriting Workbench, Mid-term changes, Renewal, Lapse and Cancellation. It uses the same code as all of our other products and integrates with Axelerator Claims using the same database and code. Axelerator is designed to integrate to other systems if required for some of this processing, such as rating engines, underwriting rules engines and document management systems. Axelerator supports the generation and posting of all accounting transactions and reinsurance bordereau. Axelerator’s architecture is different to other life insurance systems as it has at the core, a powerful rules engine that drives the entire system including applying business logic, generation the user interface, applying data validation, integration, organising the process flow and performing calculations. Axelerator will give your organisation a major advantage in the market, providing an automated solution to replace the current, time consuming, costly highly fragmented systems and manual processes. Axelerator can also integrate with your existing strategic systems for pricing, underwriting, channel distribution finance and reporting and analytics. All the features and integration services needed are already in use by Axe clients in the insurance industry.

    Total Solution For The Global Insurance Market

    INGENIUM is a core life, annuity and disability policy administration system.

    INSIS fully supports individual and group life products, unit-linked products, commercial and personal non-life lines of business, health products.

    Web-based software for the complete management and administration of policies for Life insurance companies and pension funds.

    Life insurance solutions from LexisNexis can help you make insightful decisions throughout the policy lifecycle.

    Identify deceased insureds and find beneficiaries faster with less follow-up research

    Flexible, web-based life & pensions administration for the full range of individual and group products, from pre-sales to claim.

    LIFELINK is the standard solution for policy administration in the life and pensions industry.

    Life Office enables life insurance and pension companies to automate the creation, maintenance and processing of policies.

    Majesco Policy for L&A and Group provides these essential business capabilities, while giving insurers the power, flexibility and speed they need to create profitable growth.

    Proformex tracks five key policy performance guidelines with substantial impact on policy performance and analyzes each policy against these benchmarks. Standard default values are set for each guideline using an easy to understand color code system to call out if the policy is in the desired, acceptable or undesired range for each. Guideline values can be adjusted per policy at any time.

    Serving small to mid-sized life insurance companies with proven, reliable and intuitive policy administration solutions since 1988. Nearly 50 companies trust QLAdmin for expert processing of their traditional life, health and annuity business. Also offering an out-of-the-box solutions for Medicare Supplement claims auto-adjudication for all plans in every state.

    RADIENCE Administration is a state-of-the-art core policy administration system used by life and annuity insurers.

    A web browser-based life insurance management system that supports end-to-end business processes of life insurance.

    The Administrator is a comprehensive, client-oriented, 100% online, real-time new business and contract administration system.