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Global Life Insurance Policy Administration Systems Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2019-2026
ID : ME_077457 Format : PDF December, 2019 Pages : 112
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 life insurance policy administration software 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 software 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 software systems can be implemented either as a standalone solution or as part of an integrated insurance suite.
The life insurance industry is witnessing shifting trends in the front-office, policy administration, and claims, the three core functions of the insurance value chain. Life insurance firms remain challenged by their inflexible legacy life insurance policy administration systems. Designing innovative products, faster time to market and leveraging modern technology for multi-channel distribution has become essential for life insurers. Hence insurers are looking for life insurance policy administration systems transformation to enhance their operational efficiency with a lower total cost of operations by consolidating their existing systems.
Life insurance policy administration systems market is currently dominated by North America region owing to wide adoption of life insurance policy administration systems in order to improve efficiency and eradicate issues arising due to multiple administration systems. Europe Life Insurance Policy Administration Systems market follows next due to wide adoption of these kind of administration systems in this region. Asia Pacific life insurance policy administration systems market is gradually growing due to the presence of wide customer base in this region.
In 2018, the global Life Insurance Policy Administration Systems market size was xx million US$ and it is expected to reach xx million US$ by the end of 2026, with a CAGR of xx% between 2019 and 2026.
This report studies the Life Insurance Policy Administration Systems market size by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2026; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
This report focuses on the global top players, covered
Accenture
Andesa Services
Concentrix
CSC (CyberLife)
CSC (Wealth Management Accelerator)
EXL
FAST Technology
Infosys McCamish
InsPro Technologies
Majesco
MDI
Mphasis Wyde
Oracle
Sapiens and Vitech Systems Group
Instanda
Andesa
Market segment by Regions/Countries, this report covers
North America
Europe
China
Rest of Asia Pacific
Central & South America
Middle East & Africa
Market segment by Type, the product can be split into
Hardware
Software
Services
Market segment by Application, the market can be split into
Life Insurance Policy Management
Insurance Company
The study objectives of this report are:
To study and forecast the market size of Life Insurance Policy Administration Systems in global market.
To analyze the global key players, SWOT analysis, value and global market share for top players.
To define, describe and forecast the market by type, end use and region.
To analyze and compare the market status and forecast among global major regions.
To analyze the global key regions market potential and advantage, opportunity and challenge, restraints and risks.
To identify significant trends and factors driving or inhibiting the market growth.
To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
In this study, the years considered to estimate the market size of Life Insurance Policy Administration Systems are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2026
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Key Stakeholders
Raw material suppliers
Distributors/traders/wholesalers/suppliers
Regulatory bodies, including government agencies and NGO
Commercial research & development (R&D) institutions
Importers and exporters
Government organizations, research organizations, and consulting firms
Trade associations and industry bodies
End-use industries
Available Customizations
With the given market data, QYResearch offers customizations according to the company's specific needs. The following customization options are available for the report:
Further breakdown of Life Insurance Policy Administration Systems market on basis of the key contributing countries.
Detailed analysis and profiling of additional market players.
Table of Contents
Life Insurance Policy Administration Systems Market Report by Company, Regions, Types and Applications, Global Status and Forecast to 2025
1 Industry Overview of Life Insurance Policy Administration Systems
1.1 Life Insurance Policy Administration Systems Market Overview
1.1.1 Life Insurance Policy Administration Systems Product Scope
1.1.2 Market Status and Outlook
1.2 Global Life Insurance Policy Administration Systems Market Size and Analysis by Regions
1.2.1 North America
1.2.2 Europe
1.2.3 China
1.2.4 Rest of Asia Pacific
1.2.5 Central & South America
1.2.6 Middle East & Africa
1.3 Life Insurance Policy Administration Systems Market by Type
1.3.1 Hardware
1.3.2 Software
1.3.3 Services
1.4 Life Insurance Policy Administration Systems Market by End Users/Application
1.4.1 Life Insurance Policy Management
1.4.2 Insurance Company
2 Global Life Insurance Policy Administration Systems Competition Analysis by Players
2.1 Life Insurance Policy Administration Systems Market Size (Value) by Players (2018 and 2019)
2.2 Competitive Status and Trend
2.2.1 Market Concentration Rate
2.2.2 Product/Service Differences
2.2.3 New Entrants
2.2.4 The Technology Trends in Future
3 Company (Top Players) Profiles
3.1 Accenture
3.1.1 Company Profile
3.1.2 Main Business/Business Overview
3.1.3 Products, Services and Solutions
3.1.4 Life Insurance Policy Administration Systems Revenue (Value) (2014-2019)
3.1.5 Recent Developments
3.2 Andesa Services
3.2.1 Company Profile
3.2.2 Main Business/Business Overview
3.2.3 Products, Services and Solutions
3.2.4 Life Insurance Policy Administration Systems Revenue (Value) (2014-2019)
3.2.5 Recent Developments
3.3 Concentrix
3.3.1 Company Profile
3.3.2 Main Business/Business Overview
3.3.3 Products, Services and Solutions
3.3.4 Life Insurance Policy Administration Systems Revenue (Value) (2014-2019)
3.3.5 Recent Developments
3.4 CSC (CyberLife)
3.4.1 Company Profile
3.4.2 Main Business/Business Overview
3.4.3 Products, Services and Solutions
3.4.4 Life Insurance Policy Administration Systems Revenue (Value) (2014-2019)
3.4.5 Recent Developments
3.5 CSC (Wealth Management Accelerator)
3.5.1 Company Profile
3.5.2 Main Business/Business Overview
3.5.3 Products, Services and Solutions
3.5.4 Life Insurance Policy Administration Systems Revenue (Value) (2014-2019)
3.5.5 Recent Developments
3.6 EXL
3.6.1 Company Profile
3.6.2 Main Business/Business Overview
3.6.3 Products, Services and Solutions
3.6.4 Life Insurance Policy Administration Systems Revenue (Value) (2014-2019)
3.6.5 Recent Developments
3.7 FAST Technology
3.7.1 Company Profile
3.7.2 Main Business/Business Overview
3.7.3 Products, Services and Solutions
3.7.4 Life Insurance Policy Administration Systems Revenue (Value) (2014-2019)
3.7.5 Recent Developments
3.8 Infosys McCamish
3.8.1 Company Profile
3.8.2 Main Business/Business Overview
3.8.3 Products, Services and Solutions
3.8.4 Life Insurance Policy Administration Systems Revenue (Value) (2014-2019)
3.8.5 Recent Developments
3.9 InsPro Technologies
3.9.1 Company Profile
3.9.2 Main Business/Business Overview
3.9.3 Products, Services and Solutions
3.9.4 Life Insurance Policy Administration Systems Revenue (Value) (2014-2019)
3.9.5 Recent Developments
3.10 Majesco
3.10.1 Company Profile
3.10.2 Main Business/Business Overview
3.10.3 Products, Services and Solutions
3.10.4 Life Insurance Policy Administration Systems Revenue (Value) (2014-2019)
3.10.5 Recent Developments
3.11 MDI
3.12 Mphasis Wyde
3.13 Oracle
3.14 Sapiens and Vitech Systems Group
3.15 Instanda
3.16 Andesa
4 Global Life Insurance Policy Administration Systems Market Size by Type and Application (2014-2019)
4.1 Global Life Insurance Policy Administration Systems Market Size by Type (2014-2019)
4.2 Global Life Insurance Policy Administration Systems Market Size by Application (2014-2019)
4.3 Potential Application of Life Insurance Policy Administration Systems in Future
4.4 Top Consumer/End Users of Life Insurance Policy Administration Systems
5 North America Life Insurance Policy Administration Systems Development Status and Outlook
5.1 North America Life Insurance Policy Administration Systems Market Size (2014-2019)
5.2 North America Life Insurance Policy Administration Systems Market Size and Market Share by Players (2018 and 2019)
6 Europe Life Insurance Policy Administration Systems Development Status and Outlook
6.1 Europe Life Insurance Policy Administration Systems Market Size (2014-2019)
6.2 Europe Life Insurance Policy Administration Systems Market Size and Market Share by Players (2018 and 2019)
7 China Life Insurance Policy Administration Systems Development Status and Outlook
7.1 China Life Insurance Policy Administration Systems Market Size (2014-2019)
7.2 China Life Insurance Policy Administration Systems Market Size and Market Share by Players (2018 and 2019)
8 Rest of Asia Pacific Life Insurance Policy Administration Systems Development Status and Outlook
8.1 Rest of Asia Pacific Life Insurance Policy Administration Systems Market Size (2014-2019)
8.2 Rest of Asia Pacific Life Insurance Policy Administration Systems Market Size and Market Share by Players (2018 and 2019)
9 Central & South America Life Insurance Policy Administration Systems Development Status and Outlook
9.1 Central & South America Life Insurance Policy Administration Systems Market Size (2014-2019)
9.2 Central & South America Life Insurance Policy Administration Systems Market Size and Market Share by Players (2018 and 2019)
10 Middle East & Africa Life Insurance Policy Administration Systems Development Status and Outlook
10.1 Middle East & Africa Life Insurance Policy Administration Systems Market Size (2014-2019)
10.2 Middle East & Africa Life Insurance Policy Administration Systems Market Size and Market Share by Players (2018 and 2019)
11 Market Forecast by Regions, Type and Application (2019-2025)
11.1 Global Life Insurance Policy Administration Systems Market Size (Value) by Regions (2019-2025)
11.1.1 North America Life Insurance Policy Administration Systems Revenue and Growth Rate (2019-2025)
11.1.2 Europe Life Insurance Policy Administration Systems Revenue and Growth Rate (2019-2025)
11.1.3 China Life Insurance Policy Administration Systems Revenue and Growth Rate (2019-2025)
11.1.4 Rest of Asia Pacific Life Insurance Policy Administration Systems Revenue and Growth Rate (2019-2025)
11.1.5 Central & South America Life Insurance Policy Administration Systems Revenue and Growth Rate (2019-2025)
11.1.6 Middle East & Africa Life Insurance Policy Administration Systems Revenue and Growth Rate (2019-2025)
11.2 Global Life Insurance Policy Administration Systems Market Size (Value) by Type (2019-2025)
11.3 Global Life Insurance Policy Administration Systems Market Size by Application (2019-2025)
12 Life Insurance Policy Administration Systems Market Dynamics
12.1 Life Insurance Policy Administration Systems Market Opportunities
12.2 Life Insurance Policy Administration Systems Challenge and Risk
12.2.1 Competition from Opponents
12.2.2 Downside Risks of Economy
12.3 Life Insurance Policy Administration Systems Market Constraints and Threat
12.3.1 Threat from Substitute
12.3.2 Government Policy
12.3.3 Technology Risks
12.4 Life Insurance Policy Administration Systems Market Driving Force
12.4.1 Growing Demand from Emerging Markets
12.4.2 Potential Application
13 Market Effect Factors Analysis
13.1 Technology Progress/Risk
13.1.1 Substitutes
13.1.2 Technology Progress in Related Industry
13.2 Consumer Needs Trend/Customer Preference
13.3 External Environmental Change
13.3.1 Economic Fluctuations
13.3.2 Other Risk Factors
14 Research Finding/Conclusion
15 Appendix
Methodology
Analyst Introduction
Data Source
List of Tables and Figures
Figure Life Insurance Policy Administration Systems Product Scope
Figure Global Life Insurance Policy Administration Systems Market Size (Million USD) (2014-2019)
Table Global Life Insurance Policy Administration Systems Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Figure Global Life Insurance Policy Administration Systems Market Share by Regions in 2018
Figure North America Life Insurance Policy Administration Systems Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Figure Europe Life Insurance Policy Administration Systems Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Figure China Life Insurance Policy Administration Systems Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Figure Rest of Asia Pacific Life Insurance Policy Administration Systems Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Figure Central & South America Life Insurance Policy Administration Systems Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Figure Middle East & Africa Life Insurance Policy Administration Systems Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Figure Global Life Insurance Policy Administration Systems Market Share by Type in 2018
Figure Hardware Market Size (Million USD) and Growth Rate (2014-2019)
Figure Software Market Size (Million USD) and Growth Rate (2014-2019)
Figure Services Market Size (Million USD) and Growth Rate (2014-2019)
Figure Global Life Insurance Policy Administration Systems Market Share by Application in 2018
Table Key Downstream Customer in Life Insurance Policy Management
Figure Life Insurance Policy Administration Systems Market Size (Million USD) and Growth Rate in Life Insurance Policy Management (2014-2019)
Table Key Downstream Customer in Insurance Company
Figure Life Insurance Policy Administration Systems Market Size (Million USD) and Growth Rate in Insurance Company (2014-2019)
Table Life Insurance Policy Administration Systems Market Size (Million USD) by Players (2018 and 2019)
Figure Life Insurance Policy Administration Systems Market Size Share by Players in 2018
Figure Life Insurance Policy Administration Systems Market Size Share by Players in 2019
Table Accenture Basic Information List
Table Life Insurance Policy Administration Systems Business Revenue (Million USD) of Accenture (2014-2019)
Figure Accenture Life Insurance Policy Administration Systems Business Revenue Market Share in 2018
Table Andesa Services Basic Information List
Table Life Insurance Policy Administration Systems Business Revenue (Million USD) of Andesa Services (2014-2019)
Figure Andesa Services Life Insurance Policy Administration Systems Business Revenue Market Share in 2018
Table Concentrix Basic Information List
Table Life Insurance Policy Administration Systems Business Revenue (Million USD) of Concentrix (2014-2019)
Figure Concentrix Life Insurance Policy Administration Systems Business Revenue Market Share in 2018
Table CSC (CyberLife) Basic Information List
Table Life Insurance Policy Administration Systems Business Revenue (Million USD) of CSC (CyberLife) (2014-2019)
Figure CSC (CyberLife) Life Insurance Policy Administration Systems Business Revenue Market Share in 2018
Table CSC (Wealth Management Accelerator) Basic Information List
Table Life Insurance Policy Administration Systems Business Revenue (Million USD) of CSC (Wealth Management Accelerator) (2014-2019)
Figure CSC (Wealth Management Accelerator) Life Insurance Policy Administration Systems Business Revenue Market Share in 2018
Table EXL Basic Information List
Table Life Insurance Policy Administration Systems Business Revenue (Million USD) of EXL (2014-2019)
Figure EXL Life Insurance Policy Administration Systems Business Revenue Market Share in 2018
Table FAST Technology Basic Information List
Table Life Insurance Policy Administration Systems Business Revenue (Million USD) of FAST Technology (2014-2019)
Figure FAST Technology Life Insurance Policy Administration Systems Business Revenue Market Share in 2018
Table Infosys McCamish Basic Information List
Table Life Insurance Policy Administration Systems Business Revenue (Million USD) of Infosys McCamish (2014-2019)
Figure Infosys McCamish Life Insurance Policy Administration Systems Business Revenue Market Share in 2018
Table InsPro Technologies Basic Information List
Table Life Insurance Policy Administration Systems Business Revenue (Million USD) of InsPro Technologies (2014-2019)
Figure InsPro Technologies Life Insurance Policy Administration Systems Business Revenue Market Share in 20187
Table Majesco Basic Information List
Table Life Insurance Policy Administration Systems Business Revenue (Million USD) of Majesco (2014-2019)
Figure Majesco Life Insurance Policy Administration Systems Business Revenue Market Share in 2018
Table MDI Basic Information List
Table Mphasis Wyde Basic Information List
Table Oracle Basic Information List
Table Sapiens and Vitech Systems Group Basic Information List
Table Instanda Basic Information List
Table Andesa Basic Information List
Table Global Life Insurance Policy Administration Systems Market Size (Million USD) by Type (2014-2019)
Figure Global Life Insurance Policy Administration Systems Market Size Share by Type in 2014
Figure Global Life Insurance Policy Administration Systems Market Size Share by Type in 2015
Figure Global Life Insurance Policy Administration Systems Market Size Share by Type in 2016
Figure Global Life Insurance Policy Administration Systems Market Size Share by Type in 2017
Figure Global Life Insurance Policy Administration Systems Market Size Share by Type in 2018
Figure Global Life Insurance Policy Administration Systems Market Size Share by Type in 2019
Table Global Life Insurance Policy Administration Systems Market Size (Million USD) by Application (2014-2019)
Figure Global Life Insurance Policy Administration Systems Market Size (Million USD) by Application in 2014
Figure Global Life Insurance Policy Administration Systems Market Size (Million USD) by Application in 2015
Figure Global Life Insurance Policy Administration Systems Market Size (Million USD) by Application in 2015
Figure Global Life Insurance Policy Administration Systems Market Size (Million USD) by Application in 2017
Figure Global Life Insurance Policy Administration Systems Market Size (Million USD) by Application in 2018
Figure Global Life Insurance Policy Administration Systems Market Size (Million USD) by Application in 2019
Table Top Consumer/End Users of Life Insurance Policy Administration Systems
Figure North America Life Insurance Policy Administration Systems Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Table North America Life Insurance Policy Administration Systems Market Size (Million USD) by Players (2014-2019)
Figure North America Life Insurance Policy Administration Systems Market Size Share by Players in 2018
Figure North America Life Insurance Policy Administration Systems Market Size Share by Players in 2019
Figure Europe Life Insurance Policy Administration Systems Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Table Europe Life Insurance Policy Administration Systems Market Size (Million USD) by Players (2014-2019)
Figure Europe Life Insurance Policy Administration Systems Market Size Share by Players in 2018
Figure Europe Life Insurance Policy Administration Systems Market Size Share by Players in 2019
Figure China Life Insurance Policy Administration Systems Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Table China Life Insurance Policy Administration Systems Market Size (Million USD) by Players (2014-2019)
Figure China Life Insurance Policy Administration Systems Market Size Share by Players in 2018
Figure China Life Insurance Policy Administration Systems Market Size Share by Players in 2019
Figure Rest of Asia Pacific Life Insurance Policy Administration Systems Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Table Rest of Asia Pacific Life Insurance Policy Administration Systems Market Size (Million USD) by Players (2014-2019)
Figure Rest of Asia Pacific Life Insurance Policy Administration Systems Market Size Share by Players in 2018
Figure Rest of Asia Pacific Life Insurance Policy Administration Systems Market Size Share by Players in 2019
Figure Central & South America Life Insurance Policy Administration Systems Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Table Central & South America Life Insurance Policy Administration Systems Market Size (Million USD) by Players (2014-2019)
Figure Central & South America Life Insurance Policy Administration Systems Market Size Share by Players in 2018
Figure Central & South America Life Insurance Policy Administration Systems Market Size Share by Players in 2019
Figure Middle East & Africa Life Insurance Policy Administration Systems Market Size (Million USD) and Growth Rate by Regions (2014-2019)
Table Middle East & Africa Life Insurance Policy Administration Systems Market Size (Million USD) by Players (2014-2019)
Figure Middle East & Africa Life Insurance Policy Administration Systems Market Size Share by Players in 2018
Figure Middle East & Africa Life Insurance Policy Administration Systems Market Size Share by Players in 2019
Figure Global Life Insurance Policy Administration Systems Market Size (Million USD) by Regions (2019-2025)
Table Global Life Insurance Policy Administration Systems Market Size (Million USD) by Regions (2019-2025)
Figure Global Life Insurance Policy Administration Systems Market Size Share by Regions in 2019
Figure Global Life Insurance Policy Administration Systems Market Size Share by Regions in 2025
Figure North America Life Insurance Policy Administration Systems Revenue (Million USD) and Growth Rate (2019-2025)
Figure Europe Life Insurance Policy Administration Systems Revenue (Million USD) and Growth Rate (2019-2025)
Figure China Life Insurance Policy Administration Systems Revenue (Million USD) and Growth Rate (2019-2025)
Figure Rest of Asia Pacific Life Insurance Policy Administration Systems Revenue (Million USD) and Growth Rate (2019-2025)
Figure Central & South America Life Insurance Policy Administration Systems Revenue (Million USD) and Growth Rate (2019-2025)
Figure Middle East & Africa Life Insurance Policy Administration Systems Revenue (Million USD) and Growth Rate (2019-2025)
Table Global Life Insurance Policy Administration Systems Market Size (Million USD) by Type (2019-2025)
Figure Global Life Insurance Policy Administration Systems Market Size Share by Type in 2019
Figure Global Life Insurance Policy Administration Systems Market Size Share by Type in 2025
Table Global Life Insurance Policy Administration Systems Market Size (Million USD) by Application (2019-2025)
Figure Global Life Insurance Policy Administration Systems Market Size (Million USD) by Application in 2019
Figure Global Life Insurance Policy Administration Systems Market Size (Million USD) by Application in 2025
A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.
Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.
Now let’s take a closer look at the research methods here.
Secondary Research Model:
Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.
Primary Insights:
Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.
However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.
Market Estimation:
The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.
Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.
Final Presentation:
The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.
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