Bogotá, Colombia, February 21, 2024 - Equisoft, a leading provider of digital business solutions for the insurance and wealth industries, has won the most Policy Administration System (PAS) deals in Latin America among vendors reviewed by Celent for their report on deal trends. The “Latin America Life Policy Administration Systems Deal Trends, 2023 Edition" report offers a comprehensive overview of the vendor scene, based on data from 22 life insurance PAS vendors who underwent a detailed Request for Information (RFI) process.
“Conducting thorough vendor due diligence demands a deep understanding of the solution providers available and their offerings. This report serves as a valuable tool for life insurers looking to refine their vendor evaluation and selection process,” commented Fabio Sarrico, Insurance Analyst – LATAM & EMEA at Celent.
The report provides insights into the recent demand for PAS modernization among Latin American insurers, aligning with insurers' priorities of improved customer experience, growth, digital acceleration, cybersecurity, and regulatory compliance.
"Our success in winning a substantial portion of new PAS implementations in the region is a testament to our position as a leader in the industry," said Mauricio Monroy, Vice President, LATAM and Spain at Equisoft. "With 30 years of industry expertise, we strive to remain a trusted partner for life insurers seeking reliable solutions, cutting-edge technology, and unparalleled support."
Key findings in the report reveal a growing adoption of cloud-based solutions, emphasis on customer-centricity, and the use of advanced technologies like AI for data conversion, reflecting the region's evolving insurance landscape.
Download the report: https://hubs.li/Q02lztqj0
Media contact: Beth Jarecki, Omnia Paratus, beth@omniaparatus.com