The 2024 Market Navigator for Life, Annuity, and Benefits Policy Administration Systems (PAS) profiles 17 vendors and highlights trends shaping insurer technology strategies. AI adoption is accelerating, with generative AI embedded in underwriting, billing, and claims. Insurers favor targeted modernization over full system overhauls, often deploying new systems for greenfield operations while maintaining legacy coexistence. SaaS and cloud-based deployments are rising, reflecting a shift to operational expenditure models. Modular component offerings are gaining traction, especially among large insurers, while smaller carriers prefer holistic, single-vendor solutions. Customer experience remains a core modernization driver.

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