Quick Overview
- 1#1: FINEOS Platform - Cloud-native core administration system for group life, health, accident, and disability insurance with automated claims and policy management.
- 2#2: Majesco - Modern SaaS platform providing policy administration, billing, and claims for group life and annuity insurers.
- 3#3: Sapiens CoreSuite - End-to-end digital insurance suite supporting group life policy issuance, servicing, and group pension administration.
- 4#4: V3locity - Policy administration platform for life, annuity, and group insurance with real-time processing and analytics.
- 5#5: Oracle Insurance Policy Administration - Robust rules-based system for administering complex group life policies, underwriting, and claims.
- 6#6: FIS Momentum - Comprehensive life insurance suite handling group policy management, illustrations, and reinsurance.
- 7#7: Duck Creek Life & Annuities - Cloud-based policy and claims administration tailored for life and group insurance products.
- 8#8: EbixEnterprise - Integrated platform for life and health carriers supporting group insurance administration and distribution.
- 9#9: Solera iWorks - Flexible policy administration system for individual and group life insurance operations.
- 10#10: ITC TransACT - Digital policy fulfillment and administration solution for life insurers including group business.
We ranked these tools based on core capabilities (policy administration, claims processing), product quality (robustness, adaptability), ease of use (interface, workflow intuitiveness), and overall value (return on investment, scalability), ensuring they meet the rigorous needs of modern group life insurance operations.
Comparison Table
Selecting the right group life insurance software is key for effective policy management, compliance, and growth. This comparison table features leading tools—including FINEOS Platform, Majesco, Sapiens CoreSuite, V3locity, Oracle Insurance Policy Administration, and more—to help readers assess features, capabilities, and fit. By evaluating these solutions side-by-side, users gain insights to make informed choices that align with their operational and business needs.
| # | Tool | Category | Overall | Features | Ease of Use | Value |
|---|---|---|---|---|---|---|
| 1 | FINEOS Platform Cloud-native core administration system for group life, health, accident, and disability insurance with automated claims and policy management. | enterprise | 9.7/10 | 9.9/10 | 9.4/10 | 9.5/10 |
| 2 | Majesco Modern SaaS platform providing policy administration, billing, and claims for group life and annuity insurers. | enterprise | 9.2/10 | 9.5/10 | 8.7/10 | 8.9/10 |
| 3 | Sapiens CoreSuite End-to-end digital insurance suite supporting group life policy issuance, servicing, and group pension administration. | enterprise | 8.7/10 | 9.2/10 | 8.0/10 | 8.3/10 |
| 4 | V3locity Policy administration platform for life, annuity, and group insurance with real-time processing and analytics. | enterprise | 8.7/10 | 9.2/10 | 8.0/10 | 8.4/10 |
| 5 | Oracle Insurance Policy Administration Robust rules-based system for administering complex group life policies, underwriting, and claims. | enterprise | 8.2/10 | 9.1/10 | 7.2/10 | 7.6/10 |
| 6 | FIS Momentum Comprehensive life insurance suite handling group policy management, illustrations, and reinsurance. | enterprise | 7.8/10 | 8.4/10 | 6.7/10 | 7.2/10 |
| 7 | Duck Creek Life & Annuities Cloud-based policy and claims administration tailored for life and group insurance products. | enterprise | 8.3/10 | 9.1/10 | 7.6/10 | 7.9/10 |
| 8 | EbixEnterprise Integrated platform for life and health carriers supporting group insurance administration and distribution. | enterprise | 7.6/10 | 8.1/10 | 6.7/10 | 7.4/10 |
| 9 | Solera iWorks Flexible policy administration system for individual and group life insurance operations. | enterprise | 7.8/10 | 8.2/10 | 7.0/10 | 7.5/10 |
| 10 | ITC TransACT Digital policy fulfillment and administration solution for life insurers including group business. | enterprise | 7.4/10 | 8.1/10 | 6.7/10 | 7.2/10 |
Cloud-native core administration system for group life, health, accident, and disability insurance with automated claims and policy management.
Modern SaaS platform providing policy administration, billing, and claims for group life and annuity insurers.
End-to-end digital insurance suite supporting group life policy issuance, servicing, and group pension administration.
Policy administration platform for life, annuity, and group insurance with real-time processing and analytics.
Robust rules-based system for administering complex group life policies, underwriting, and claims.
Comprehensive life insurance suite handling group policy management, illustrations, and reinsurance.
Cloud-based policy and claims administration tailored for life and group insurance products.
Integrated platform for life and health carriers supporting group insurance administration and distribution.
Flexible policy administration system for individual and group life insurance operations.
Digital policy fulfillment and administration solution for life insurers including group business.
FINEOS Platform
enterpriseCloud-native core administration system for group life, health, accident, and disability insurance with automated claims and policy management.
AdminStudio no-code configuration tool that empowers business users to adapt group life workflows dynamically without developer intervention
The FINEOS Platform is a cloud-native, SaaS-based core administration system tailored for life, health, accident, and disability insurers, with robust capabilities for group life insurance. It handles end-to-end processes including policy issuance, group enrollment, premium billing, claims adjudication, and reporting for complex group contracts. The platform's modular design allows insurers to configure workflows without extensive coding, ensuring scalability and integration with ecosystems like HRIS and payroll systems.
Pros
- Comprehensive group life support with automated enrollment, eligibility management, and evidence of insurability workflows
- Microservices architecture enables rapid scalability and seamless integrations via open APIs
- Advanced analytics and AI-driven claims processing reduce operational costs and improve accuracy
Cons
- Enterprise-level pricing requires significant upfront investment and long implementation timelines
- Steep learning curve for non-technical users during initial configuration
- Limited out-of-the-box customizations for very niche regional regulations without add-ons
Best For
Large-scale insurers managing high-volume, complex group life portfolios who need a future-proof, fully integrated core system.
Pricing
Custom enterprise SaaS pricing; modular subscriptions typically range from $500K+ annually based on users, modules, and volume.
Majesco
enterpriseModern SaaS platform providing policy administration, billing, and claims for group life and annuity insurers.
Composable, low-code architecture enabling insurers to configure and launch new group products in weeks rather than years
Majesco offers a cloud-native, SaaS-based insurance platform tailored for group life insurance administration, managing the full policy lifecycle from quoting and enrollment to billing, renewals, and claims processing. It supports complex group benefits structures, including life, disability, and supplemental health products, with robust integration capabilities for third-party systems. The platform emphasizes digital transformation through low-code configuration and AI-driven insights, enabling insurers to scale operations efficiently.
Pros
- Highly scalable cloud architecture handles large group portfolios seamlessly
- Low-code/no-code tools for rapid customization and product innovation
- Advanced analytics and AI for underwriting, risk management, and customer insights
Cons
- Implementation can take 12-18 months for complex deployments
- Higher pricing tier suited more for mid-to-large enterprises
- Steep initial learning curve for non-technical users
Best For
Mid-sized to large group life insurers seeking a modern, future-proof platform for digital transformation and multi-line expansion.
Pricing
Custom enterprise subscription pricing starting at $500K+ annually, based on premium volume and modules; contact for quote.
Sapiens CoreSuite
enterpriseEnd-to-end digital insurance suite supporting group life policy issuance, servicing, and group pension administration.
Low-code/no-code platform enabling insurers to configure group-specific workflows and extensions without extensive programming
Sapiens CoreSuite is a comprehensive, end-to-end policy administration platform tailored for life, pensions, and group insurance, offering robust support for group life insurance through automated policy management, enrollment, billing, and claims processing. It integrates digital channels, self-service portals for employers and employees, and advanced analytics to handle complex group contracts efficiently. The suite's modular design allows insurers to scale operations while ensuring regulatory compliance and seamless integration with third-party systems.
Pros
- Comprehensive end-to-end group life administration including enrollment and billing
- Strong digital self-service and mobile capabilities for policyholders
- Low-code configuration for rapid customization and scalability
Cons
- Lengthy and costly implementation for complex deployments
- Steep learning curve for full utilization of advanced features
- Premium pricing less ideal for smaller insurers
Best For
Mid-to-large insurance carriers managing high-volume group life portfolios that require scalable, integrated digital solutions.
Pricing
Custom enterprise pricing; typically annual subscriptions starting at $500K+ based on modules, users, and deployment scale—contact sales for quote.
V3locity
enterprisePolicy administration platform for life, annuity, and group insurance with real-time processing and analytics.
Valence no-code configuration engine for rapid adaptation to evolving group life regulations and products
V3locity by Vitech is a modern, cloud-native policy administration system (PAS) tailored for life insurers, with strong capabilities for managing group life insurance products including enrollment, billing, renewals, and claims processing. It leverages a low-code/no-code configuration engine called Valence to enable rapid customization of group policies without extensive programming. The platform supports high-volume transactions and seamless integrations with third-party systems, making it suitable for carriers handling diverse group benefits.
Pros
- Highly scalable cloud architecture handles large group enrollments efficiently
- Valence no-code tools allow quick product configuration and updates
- Robust API ecosystem for integrations with HRIS, billing, and claims systems
Cons
- Steep learning curve for full utilization of configuration tools
- Implementation timelines can be lengthy for complex group setups
- Pricing is opaque and geared toward enterprise-scale deployments
Best For
Mid-to-large life insurers managing complex, high-volume group life portfolios who need flexible, scalable administration.
Pricing
Custom enterprise pricing based on modules, users, and deployment scale; typically starts in the high six figures annually with implementation fees.
Oracle Insurance Policy Administration
enterpriseRobust rules-based system for administering complex group life policies, underwriting, and claims.
Product Factory for no-code configuration of intricate group life products and riders
Oracle Insurance Policy Administration (OPA) is a robust, enterprise-grade platform tailored for administering life, annuity, and group insurance policies, including group life insurance. It streamlines the full policy lifecycle—from new business issuance, enrollment, and premium billing to claims processing and renewals. OPA leverages Oracle's cloud infrastructure for scalability and integrates AI-driven analytics for risk assessment and compliance in group life scenarios.
Pros
- Comprehensive support for group life workflows like automated enrollment and COBRA compliance
- Scalable cloud-native architecture with strong integration to CRM and core banking systems
- Advanced rules engine and low-code configuration for customizing complex group products
Cons
- Steep learning curve and lengthy implementation timelines for non-Oracle experts
- High upfront costs and ongoing licensing fees
- Less intuitive UI compared to modern SaaS alternatives
Best For
Large insurers managing high-volume group life portfolios that require deep customization and enterprise scalability.
Pricing
Custom enterprise licensing, typically $500K+ annually depending on modules, users, and deployment scale; cloud subscription model available.
FIS Momentum
enterpriseComprehensive life insurance suite handling group policy management, illustrations, and reinsurance.
Unified platform supporting both individual and group life products with seamless enrollment and premium billing across diverse employer groups
FIS Momentum is an enterprise-grade policy administration system (PAS) from FIS Global, tailored for life, annuity, and group insurance carriers. It manages the full policy lifecycle, including new business quoting, underwriting, issuance, servicing, billing, claims adjudication, and regulatory reporting. The platform excels in handling complex group life products with scalable, modular architecture for high-volume operations.
Pros
- Comprehensive end-to-end group life administration including enrollment and eligibility management
- Robust integration with third-party systems and strong analytics/reporting capabilities
- Proven scalability for large carriers with high policy volumes
Cons
- Steep learning curve and dated user interface in legacy modules
- Lengthy and costly implementation timelines
- Limited flexibility for rapid customizations without professional services
Best For
Large group life insurance carriers seeking a reliable, scalable enterprise solution for complex, high-volume policy administration.
Pricing
Custom enterprise pricing; typically annual subscriptions starting at $500K+ for mid-sized deployments, plus implementation fees.
Duck Creek Life & Annuities
enterpriseCloud-based policy and claims administration tailored for life and group insurance products.
Low-code/no-code configuration engine that allows rapid adaptation to diverse group life product rules without custom development
Duck Creek Life & Annuities is a cloud-native SaaS platform tailored for life and annuities insurers, supporting both individual and group life insurance products. It provides end-to-end capabilities including policy administration, new business issuance, underwriting, billing, claims processing, and automated enrollment for group policies. The solution excels in handling complex group life scenarios like eligibility tracking, premium calculations, and regulatory compliance.
Pros
- Highly configurable low-code platform for customizing group life workflows
- Scalable cloud architecture with strong API integrations for ecosystems
- Comprehensive support for group enrollment, billing, and claims automation
Cons
- Steep learning curve and requires skilled administrators
- Lengthy implementation timelines for complex setups
- Premium pricing may not suit smaller carriers
Best For
Mid-to-large life insurers managing high-volume group life policies who need a flexible, enterprise-grade SaaS solution.
Pricing
Custom enterprise subscription pricing, typically starting at $200K+ annually based on volume and modules.
EbixEnterprise
enterpriseIntegrated platform for life and health carriers supporting group insurance administration and distribution.
Unified global policy administration platform with seamless integration to insurance exchanges for broker and partner connectivity
EbixEnterprise is a comprehensive enterprise software platform tailored for insurance carriers, offering robust policy administration, quoting, underwriting, billing, and claims management specifically for group life insurance products. It supports high-volume enrollment, premium calculations, and compliance with industry regulations across multiple jurisdictions. The solution integrates CRM, analytics, and third-party systems to streamline group policy lifecycle management for mid-to-large insurers.
Pros
- Comprehensive end-to-end automation for group policy administration and servicing
- Strong scalability and customization for complex group life products
- Robust reporting and regulatory compliance tools
Cons
- Outdated user interface with a steep learning curve
- Lengthy and expensive implementation process
- Limited native mobile and self-service capabilities for enrollees
Best For
Mid-sized to large insurance carriers managing high-volume group life policies that require deep customization and regulatory compliance.
Pricing
Custom enterprise licensing with annual subscriptions starting at $150,000+, based on users, modules, and deployment scale.
Solera iWorks
enterpriseFlexible policy administration system for individual and group life insurance operations.
Configurable low-code workflows that enable rapid adaptation to diverse group life product rules without heavy coding
Solera iWorks is a cloud-based policy administration system tailored for life, annuity, and group insurance carriers, handling everything from new business issuance to ongoing policy servicing and claims adjudication. It supports group life insurance through automated enrollment, premium billing, and configurable workflows that adapt to complex group structures. The platform emphasizes scalability and integration with third-party systems, making it suitable for mid-to-large insurers managing high-volume group policies.
Pros
- Scalable SaaS architecture handles high-volume group life policies efficiently
- Robust integration capabilities with carriers' existing ecosystems
- Configurable rules engine for compliance and customization
Cons
- Steep implementation timeline and learning curve for complex setups
- Enterprise-level pricing lacks transparency
- Less intuitive UI compared to modern insurtech alternatives
Best For
Mid-sized group life insurance carriers seeking a comprehensive, scalable policy administration platform with strong integration needs.
Pricing
Custom enterprise pricing upon request, typically starting at $100K+ annually based on user count and modules.
ITC TransACT
enterpriseDigital policy fulfillment and administration solution for life insurers including group business.
Configurable product factory for rapid group product development and illustration accuracy
ITC TransACT is a robust policy administration system from Insurance Technologies Corporation, tailored for life insurance carriers with specialized modules for group life insurance administration. It handles end-to-end processes including quoting, underwriting, enrollment, policy servicing, billing, and reporting for group policies and certificates. The platform emphasizes configurability and automation to support complex group structures like employer-sponsored plans.
Pros
- Comprehensive group enrollment and certificate management
- Flexible rules engine for underwriting and billing automation
- Strong integration capabilities with legacy and modern systems
Cons
- Outdated user interface requiring modernization efforts
- Steep implementation and customization timeline
- Limited native support for advanced AI-driven analytics
Best For
Mid-sized life insurance carriers managing group life and voluntary benefits who need a proven, configurable policy admin system.
Pricing
Custom enterprise licensing; typically $500K+ annually for mid-sized deployments, plus implementation fees.
Conclusion
The reviewed group life insurance software delivers powerful tools, with FINEOS Platform leading as the top choice, offering a cloud-native core administration system with automated claims and policy management. Majesco and Sapiens CoreSuite follow closely, each excelling in tailored SaaS and end-to-end digital solutions, making them strong alternatives for varied operational needs.
Take the next step and try FINEOS Platform to enhance efficiency and elevate your group insurance management processes.
Tools Reviewed
All tools were independently evaluated for this comparison