Insurance Technology - Transforming the Policy Administration Platform (Review Report)

Table of Contents

• DATAMONITOR VIEW
  • CATALYST
  • SUMMARY
  • METHODOLOGY
• EXECUTIVE SUMMARY
  • Introduction
  • 2006 Life and Pensions Overview (Market Focus)
  • Business Strategies in Global Life Insurance (Strategy Focus)
  • Policy Administration Systems in L&P (Technology Focus)
  • Policy Administration spending in Global Life Insurance (Databook)
• 2006 LIFE AND PENSIONS OVERVIEW (MARKET FOCUS)
  • Summary
  • The L&P ecosystem
  • Investment gains & premium growth
  • The changing product mix & pension reform
  • The increasing regulatory burdon
  • Ongoing industry consolidation and M&A
  • Policy administration modernization
• BUSINESS STRATEGIES IN GLOBAL LIFE INSURANCE (STRATEGY FOCUS)
  • Summary
  • Business drivers for policy administration system modernization
  • Business strategies for policy administration modernization
    • Application rationalization can reduce cost and extend functionality, but is not viable in the long-term
    • Architecture standardization is the foundation of the future of policy administration transformation
    • Replacement of policy administration systems remains viable in certain segments, but has limitations
    • BPO remains in a "wait and see" period, but the architecture approach may make it practical in the long run
  • The changing blend of strategies
    • Incremental replacement emerging as the strategy of choice among insurers
• POLICY ADMINISTRATION SYSTEMS IN L&P (TECHNOLOGY FOCUS)
  • Summary
  • Componentized architecture: A technology concept for today and tomorrow
  • Maturing technology enables the next generation policy administration system
    • MAKING PROCESSES TECH AGNOSTIC - Standards
    • INTEGRATING APPLICATIONS - Web services
    • LEVERAGING INTEGRATION BENEFITS - Business process management and workflow
    • Making sense of processes - services and SOA
• POLICY ADMINISTRATION SPENDING IN GLOBAL LIFE INSURANCE (DATABOOK)
  • Introduction
    • Definitions
  • Global Policy Administration market
    • North American Life insurance Policy Administration IT market
    • Western European Life insurance Policy Administration IT market
    • North American Policy Administration IT source spending
    • Western European Policy Administration source spending
  • Policy Administration IT source spending, by country
• APPENDIX
  • Further reading
  • Ask the analyst
  • List of Tables
    • Table 1: Policy Administration definitions
    • Table 2: North American policy administration IT spending, 2005-2009, by country
    • Table 3: W. European policy administration IT spending, 2005-2009, by country
    • Table 4: North American Policy Administration IT spending, 2005-2009, by source
    • Table 5: W. European Policy Administration IT spending, 2005-2009, by source
    • Table 6: Policy Administration IT spending, 2005-2009, by source, United States
    • Table 7: Policy Administration IT spending, 2005-2009, by source, Canada
    • Table 8: Policy Administration IT spending, 2005-2009, by source, Benelux
    • Table 9: Policy Administration IT spending, 2005-2009, by source, France
    • Table 10: Policy Administration IT spending, 2005-2009, by source, Germany
    • Table 11: Policy Administration IT spending, 2005-2009, by source, Italy
    • Table 12: Policy Administration IT spending, 2005-2009, by source, Nordics
    • Table 13: Policy Administration IT spending, 2005-2009, by source, Other Europe
    • Table 14: Policy Administration IT spending, 2005-2009, by source, Spain
    • Table 15: Policy Administration IT spending, 2005-2009, by source, Switzerland
    • Table 16: Policy Administration IT spending, 2005-2009, by source, UK
  • List of Figures
    • Figure 1: The L&P ecosystem
    • Figure 2: Summary of regulation affecting L&P insurers
    • Figure 3: Market conditions driving insurers strategy
    • Figure 4: Which are the most important business drivers for policy administration systems re-engineering / replacement?
    • Figure 5: With regard to your policy administration system, what is your strategy for the next five years? - European insurers
    • Figure 6: With regard to your policy administration system, what is your strategy for the next five years? - North American Insurers
    • Figure 7: Policy admin systems becoming more robust in meeting business needs
    • Figure 8: Policy admin systems becoming more robust in meeting business needs
    • Figure 9: North American policy administration IT spending, 2005-2009, by country
    • Figure 10: W. European policy administration IT spending, 2005-2009, by country
    • Figure 11: North American Policy Administration IT spending, 2005-2009, by source
    • Figure 12: W. European Policy Administration IT spending, 2005-2009, by source
    • Figure 13: Policy Administration IT spending, 2005-2009, by source, United States
    • Figure 14: Policy Administration IT spending, 2005-2009, by source, Canada
    • Figure 15: Policy Administration IT spending, 2005-2009, by source, Benelux
    • Figure 16: Policy Administration IT spending, 2005-2009, by source, France
    • Figure 17: Policy Administration IT spending, 2005-2009, by source, Germany
    • Figure 18: Policy Administration IT spending, 2005-2009, by source, Italy
    • Figure 19: Policy Administration IT spending, 2005-2009, by source, Nordics
    • Figure 20: Policy Administration IT spending, 2005-2009, by source, Other Europe
    • Figure 21: Policy Administration IT spending, 2005-2009, by source, Spain
    • Figure 22: Policy Administration IT spending, 2005-2009, by source, Switzerland
    • Figure 23: Policy Administration IT spending, 2005-2009, by source, UK