Marché des systèmes d’administration des polices d’assurance-vie – Taille, part, tendances de l’industrie et prévisions (2025-2032)

By Component:

Based on component, the market is segmented into product development and maintenance, new business, customer management, billing, and others.

 Trends in the component:

• Increasing trend in the adoption of customer management solutions due to the rise in automation, and the growing need for personalization and improved customer services.
• There is a rising trend toward the utilization of new business solutions, attributed to their several processes including new business case management, new business underwriting, and policy issuance.

Customer management segment accounted for the largest revenue in the overall life insurance policy administration systems market share in 2024.

• Customer management is the key aspect of life insurance policy administration intended to address the challenges of the industry.
• In life insurance policy administration systems, customer management solutions offer various features, including consolidated database and automated report generation, which provide real-time insights with minimal human effort.
• For instance, Salesforce offers various features within its platform that can be used to streamline policy administration processes.
• According to the life insurance policy administration systems market analysis, the rising adoption of customer management solutions is driving the life insurance policy administration systems market trends.

New business segment is anticipated to register the fastest CAGR growth during the forecast period.

• In the insurance policy administration system, new business refers to the process of onboarding and underwriting new policies, highlighting the success of sales and marketing to facilitate improved customer services.
• Moreover, new business solutions offer several functions including new business submission, case management, underwriting dashboards, endorsements, and others.
• For instance, Oracle offers Oracle insurance policy administration with new business underwriting (OIPA), which offers key benefits for business and IT roles. It includes various features like automated tasks, case management, and in-force underwriting for improved efficiency.
• Therefore, the above trends are propelling the life insurance policy administration systems market growth during the forecast period.

By Deployment:

Based on deployment, the market is segmented into cloud and on premise.

Trends in the deployment:

• The adoption of on-premise deployment is primarily driven by factors like enhanced security, reliability, personalized customization, and others.
• Key trends including enhanced scalability, availability of pay-as-you-go service, and enhanced security measures are driving the cloud deployment segment.
• In life insurance policy administration, cloud based deployment offers modular approach to policy management to provide robust solutions for life insurance policy management.
• Moreover, cloud-based life insurance policy administration provides end-to-end automated policy to manage a vast range of tasks like compliance management, documentation management, client database management, and others.
• For instance, Sapiens provides a comprehensive set of transformation products like BillinfPro, ClaimsPro, CoreSuite, and DigitalSiute to fully automate the insurance landscape.
• Thus, rising advancements associated with cloud-based policy administration solutions are driving the market.

By Software Module:

Based on software module, the market is segmented into quote management, communication modules, customer feedback tools, and others.

Trends in the software module:

• Key factors including diversified feedback types, integration of AI features, and others are driving the life insurance policy administration systems market trends.

Quote management segment accounted for the largest revenue share of 30.74% in the overall market in 2024.

• Quote management in life insurance policy administration refers to the process of managing, creating and tracking insurance quotes for better compliance with quotation repository, accurate quotation and faster deal closures.
• Moreover, quote management streamlines the quoting process by seamlessly integrating with internal and external databases by improving sales forecasting and enhancing overall efficiency.
• For instance, Newgen provides quotation management solution to reduce data entry and collation efforts, lower cost of servicing, and simplify the transition of quotation into proposal.
• Therefore, the rising adoption of quote management solutions is further driving the market growth.

Customer feedback tools is anticipated to register fastest CAGR growth during the forecast period.

• In life insurance policy administration systems, customer feedback tools provide the statistics gathered from policy holders about their experience with the insurance company, which includes policy administration process.
• Customer feedback tools collect the data like direct feedback, indirect feedback, solicited feedback, unsolicited feedback, qualitative feedback and others.
• For instance, Diceus’s Vitaminise product suite includes customer feedback tool, which provides customer experiences, data-driven insights, and enhances operational efficiency of insurance companies.
• Therefore, the rising demand for customer feedback tools is expected to drive the life insurance policy administration systems market during the forecast period.