Celent’s Deal Trends Report: The evolution of new Policy Administration Systems in LATAM

Every two years, Celent conducts an in-depth analysis of policy administration systems (PAS) in the Latin American life insurance industry. This report offers a comprehensive view of the installed base of policy administration systems from 2019 to 2023, providing valuable data on industry evolution and trends during this period.

What are LATAM insurers looking for? #

Numerous insurance companies in Latin America continue to operate outdated back-end systems. Although some view the replacement of a policy administration system (PAS) as a risky, expensive, and labor-intensive endeavor, they also acknowledge the importance of enhancing automation and efficiency to lower operational expenses. Additionally, they recognize the significance of improving integration capabilities to tap into the rapidly expanding digital landscape and deliver the same level of customer experience seen in other industries. Consequently, there is a growing interest and necessity among these insurers to modernize their legacy back-office systems.

Download this report to uncover: #

• Latin American Life Insurance PAS Market Overview and Trends
• Latin America Market Dynamics
• PAS Deals in Latin America in the last 2 years

This Celent report will help insurers in the Latin American life insurance sector stay informed on the latest trends and developments.