Life Insurance Policy Administration Systems Market Report 2026

The life insurance policy administration systems market size has grown rapidly in recent years. It will grow from $6.93 billion in 2025 to $7.83 billion in 2026 at a compound annual growth rate (CAGR) of 13%. The growth in the historic period can be attributed to increasing volume of life insurance policies, growing complexity of regulatory compliance requirements, expansion of multi-channel policy servicing models, rising demand for operational efficiency, adoption of enterprise insurance platforms.

The life insurance policy administration systems market size is expected to see rapid growth in the next few years. It will grow to $12.6 billion in 2030 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to increasing adoption of AI-driven underwriting support, rising investments in cloud-native PAS solutions, expansion of digital customer self-service portals, growing demand for scalable policy administration systems, increasing focus on data accuracy and compliance automation. Major trends in the forecast period include increasing migration to cloud-based pas platforms, rising adoption of automated policy lifecycle management, growing integration of advanced analytics and reporting tools, expansion of api-driven system integration, enhanced focus on customer-centric policy servicing.

The increasing demand for cloud-based solutions is anticipated to drive the growth of the life insurance policy administration systems market in the coming years. Cloud-based solutions are software, platforms, or services delivered and accessed over the internet rather than installed locally on a computer or on-premises server. The growing preference for cloud-based solutions is driven by cost efficiency, as organizations can lower expenses on physical infrastructure, maintenance, and IT staff by utilizing scalable, pay-as-you-go cloud services. The adoption of cloud-based solutions supports life insurance policy administration systems by allowing scalable, cost-effective, and flexible management of policy operations, improving accessibility, automation, and real-time data processing. For example, in April 2025, according to the American Bar Association, a U.S.-based professional organization, around 75% of attorneys reported using cloud computing for work-related tasks, up from 69% in 2023 and approximately 70% in 2022. Thus, the growing demand for cloud-based solutions is contributing to the expansion of the life insurance policy administration systems market.

Major companies operating in the life insurance policy administration systems market are concentrating on creating innovative solutions, such as integrated digital payment platforms, to simplify transactions, improve customer experience, and boost operational efficiency. Integrated digital payment platforms are systems that unify multiple payment methods and financial services into a single digital interface, enabling smooth, real-time transactions within existing applications or workflows. For example, in June 2025, One Inc., a US-based software company, introduced a pre-built payment integration for Verisk’s FAST platform, allowing seamless inbound premium processing within life insurance policy administration systems. This integration assists insurers in accelerating digital transformation while enhancing the policyholder experience. The FAST platform itself is a scalable and flexible solution designed to optimize end-to-end life insurance and annuity operations, from product development and launch to customer self-service, policy administration, and claims management. By utilizing advanced analytics, automation, and AI, it enables insurers to improve operational efficiency, cut product time-to-market by up to 75%, and elevate the overall digital experience for policyholders.

In June 2025, Helsing SE, a German defense technology company specializing in artificial intelligence, acquired Grob Aircraft SE for an undisclosed amount. The acquisition is intended to combine Helsing’s advanced AI and mission software expertise with Grob Aircraft’s established capabilities in manufacturing lightweight military trainers and reconnaissance aircraft. Through this integration, Helsing aims to accelerate the development of next-generation light air combat and reconnaissance systems that incorporate cutting-edge AI-driven features for modern defense needs.

Major companies operating in the life insurance policy administration systems market are Accenture Plc, Oracle Corporation, Cognizant Technology Solutions Corporation, Infosys Limited, DXC Assure for Life and Wealth, Pegasystems Inc., Exl Service Holdings Inc., Sapiens International Corporation, Majesco, Insurity Sure Policy Inc., Vermeg S.A., Duck Creek Technologies Inc., EIS Group, Equisoft Corporation, Solartis Technologies Inc., FINEOS Corporation plc, Andesa Services Inc., BindHQ, QLAdmin Solutions Inc., Damco Solutions Inc.

North America was the largest region in the life insurance policy administration systems market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the life insurance policy administration systems market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the life insurance policy administration systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The light attack and reconnaissance aircraft market consists of sales of aircraft airframes, engines, avionics systems, weapon systems, communication systems, navigation systems, landing gear, fuel systems, flight control systems, and cockpit instrumentation. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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