Quick Overview
- 1#1: Majesco - Provides a modern, cloud-native policy administration system tailored for life and annuities insurance carriers.
- 2#2: Sapiens - Offers CoreSuite for Life & Annuities, a comprehensive digital platform for policy administration and management.
- 3#3: Duck Creek - Delivers LifeXcel, a SaaS-based policy administration solution for life insurance with advanced analytics.
- 4#4: EIS Group - Powers EIS Suite, an innovative policy administration platform supporting life insurance product lifecycle.
- 5#5: Vitech - VALUe is a flexible, low-code platform for administering complex life insurance policies globally.
- 6#6: DXC Technology - InsureLife by DXC provides end-to-end policy administration for life and health insurers.
- 7#7: Oracle - Oracle Insurance Policy Administration for Life handles policy servicing, claims, and illustrations.
- 8#8: Ebix - EbixLife offers integrated policy management and servicing tools for life insurance carriers.
- 9#9: iPipeline - Streamlines life insurance quoting, underwriting, and policy fulfillment through its digital platform.
- 10#10: AgencyBloc - CRM platform designed for life and annuity agencies to manage policies, commissions, and client data.
Tools were chosen based on feature depth (e.g., advanced analytics, lifecycle management), reliability for complex policies, user-friendly design (including low-code capabilities), and overall value, ensuring they meet the demands of modern insurance workflows.
Comparison Table
Choosing the right life insurance policy software is critical for operational efficiency and compliance, with leading tools like Majesco, Sapiens, Duck Creek, EIS Group, and Vitech offering distinct features. This comparison table outlines key capabilities, integration options, and cost structures to help readers identify the software that best matches their organization’s goals, ensuring seamless policy administration and growth.
| # | Tool | Category | Overall | Features | Ease of Use | Value |
|---|---|---|---|---|---|---|
| 1 | Majesco Provides a modern, cloud-native policy administration system tailored for life and annuities insurance carriers. | enterprise | 9.7/10 | 9.8/10 | 8.9/10 | 9.2/10 |
| 2 | Sapiens Offers CoreSuite for Life & Annuities, a comprehensive digital platform for policy administration and management. | enterprise | 9.2/10 | 9.5/10 | 8.4/10 | 8.9/10 |
| 3 | Duck Creek Delivers LifeXcel, a SaaS-based policy administration solution for life insurance with advanced analytics. | enterprise | 8.6/10 | 9.1/10 | 8.0/10 | 8.2/10 |
| 4 | EIS Group Powers EIS Suite, an innovative policy administration platform supporting life insurance product lifecycle. | enterprise | 8.4/10 | 9.1/10 | 7.6/10 | 8.0/10 |
| 5 | Vitech VALUe is a flexible, low-code platform for administering complex life insurance policies globally. | enterprise | 8.2/10 | 9.0/10 | 7.5/10 | 7.8/10 |
| 6 | DXC Technology InsureLife by DXC provides end-to-end policy administration for life and health insurers. | enterprise | 8.1/10 | 8.7/10 | 7.2/10 | 7.9/10 |
| 7 | Oracle Oracle Insurance Policy Administration for Life handles policy servicing, claims, and illustrations. | enterprise | 8.1/10 | 9.2/10 | 6.4/10 | 7.3/10 |
| 8 | Ebix EbixLife offers integrated policy management and servicing tools for life insurance carriers. | enterprise | 7.2/10 | 7.6/10 | 6.4/10 | 6.9/10 |
| 9 | iPipeline Streamlines life insurance quoting, underwriting, and policy fulfillment through its digital platform. | specialized | 8.4/10 | 9.0/10 | 8.0/10 | 7.8/10 |
| 10 | AgencyBloc CRM platform designed for life and annuity agencies to manage policies, commissions, and client data. | specialized | 7.4/10 | 7.6/10 | 7.8/10 | 7.0/10 |
Provides a modern, cloud-native policy administration system tailored for life and annuities insurance carriers.
Offers CoreSuite for Life & Annuities, a comprehensive digital platform for policy administration and management.
Delivers LifeXcel, a SaaS-based policy administration solution for life insurance with advanced analytics.
Powers EIS Suite, an innovative policy administration platform supporting life insurance product lifecycle.
VALUe is a flexible, low-code platform for administering complex life insurance policies globally.
InsureLife by DXC provides end-to-end policy administration for life and health insurers.
Oracle Insurance Policy Administration for Life handles policy servicing, claims, and illustrations.
EbixLife offers integrated policy management and servicing tools for life insurance carriers.
Streamlines life insurance quoting, underwriting, and policy fulfillment through its digital platform.
CRM platform designed for life and annuity agencies to manage policies, commissions, and client data.
Majesco
enterpriseProvides a modern, cloud-native policy administration system tailored for life and annuities insurance carriers.
Composable microservices architecture allowing insurers to mix-and-match capabilities for hyper-personalized policy products
Majesco offers a cloud-native SaaS platform tailored for life insurance policy administration, powering the entire policy lifecycle from new business issuance and underwriting to servicing, billing, and claims management. It leverages a composable architecture with microservices and APIs to enable rapid product innovation and digital customer experiences. Designed for modern insurers, it supports complex life, annuity, and group products with low-code configuration tools.
Pros
- Highly scalable cloud platform with 99.99% uptime and seamless integration via robust APIs
- Low-code/no-code tools accelerate product launches and customization without heavy IT involvement
- Advanced analytics and AI-driven insights for underwriting and risk management
Cons
- Enterprise-level pricing may be prohibitive for smaller insurers
- Initial implementation requires significant configuration time
- Advanced features demand trained users for optimal utilization
Best For
Mid-to-large life insurers seeking a future-proof platform for digital transformation and agile product development.
Pricing
Custom enterprise subscription pricing starting at $500K+ annually, based on policy volume and modules.
Sapiens
enterpriseOffers CoreSuite for Life & Annuities, a comprehensive digital platform for policy administration and management.
IlluminateAI platform for embedded intelligence, enabling predictive analytics and automated decision-making across the policy lifecycle
Sapiens offers a comprehensive, cloud-native insurance platform tailored for life insurance policy administration, covering everything from product configuration and quoting to policy servicing, billing, and claims management. The Sapiens Life & Annuities solution leverages low-code/no-code tools, AI-driven analytics, and digital customer engagement to streamline operations for insurers. It supports complex products like annuities, group life, and individual policies with scalability for enterprise-level deployments.
Pros
- Highly scalable cloud-native architecture suitable for large carriers
- Advanced AI and analytics for personalized underwriting and risk management
- Robust integration capabilities with third-party ecosystems and digital channels
Cons
- Steep implementation timeline and costs for full deployment
- Learning curve for non-technical users despite low-code features
- Less ideal for small insurers due to enterprise focus
Best For
Large life insurance carriers seeking a future-proof, end-to-end policy administration platform with strong digital and AI capabilities.
Pricing
Custom enterprise pricing; subscription-based SaaS model typically starting at $500K+ annually depending on modules, users, and scale.
Duck Creek
enterpriseDelivers LifeXcel, a SaaS-based policy administration solution for life insurance with advanced analytics.
Low-code Product Factory for rapid configuration of complex life products and illustrations
Duck Creek is a cloud-native SaaS platform offering policy administration solutions for life insurance and annuities, enabling insurers to configure, issue, and manage complex life products efficiently. It includes tools for policy servicing, illustrations, billing, and regulatory compliance, with a focus on low-code configuration for flexibility. While traditionally dominant in P&C insurance, its life capabilities provide scalability and integration across lines of business.
Pros
- Low-code/no-code product configuration accelerates development
- Robust integrations with third-party systems like actuarial engines
- Scalable cloud architecture supports high-volume life insurers
Cons
- Steeper learning curve for full customization
- Higher pricing suits enterprises over smaller carriers
- Life-specific features less mature than core P&C offerings
Best For
Mid-to-large life insurers needing a flexible, integrated platform that spans P&C and life lines.
Pricing
Enterprise SaaS subscription; custom quotes typically $500K+ annually based on users and modules.
EIS Group
enterprisePowers EIS Suite, an innovative policy administration platform supporting life insurance product lifecycle.
Product Factory for no-code/low-code configuration of intricate life insurance products
EIS Group's EIS Suite is a modern, cloud-native policy administration system (PAS) tailored for life insurance carriers, handling everything from product design and quoting to policy servicing, underwriting, and claims. It features a powerful Product Factory for rapid configuration of complex life products without extensive coding. The platform emphasizes digital transformation with omnichannel support and AI-driven insights to enhance customer experiences and operational efficiency.
Pros
- Highly configurable Product Factory enables quick launch of customized life products
- Cloud-native architecture supports scalability and seamless integrations
- Proven track record with major global life insurers for reliability
Cons
- Steep implementation timeline and costs for enterprise deployments
- Complex interface may require significant user training
- Pricing lacks transparency, often requiring custom negotiations
Best For
Large life insurance carriers seeking a flexible, scalable PAS for complex product portfolios and digital modernization.
Pricing
Enterprise licensing with custom quotes; typically high initial setup costs starting in the millions, plus subscription-based SaaS fees.
Vitech
enterpriseVALUe is a flexible, low-code platform for administering complex life insurance policies globally.
Low-code rtM (real-time modeling) engine for dynamic product configuration and scenario testing
Vitech's Valence is a cloud-native policy administration platform tailored for life insurance, annuities, and group benefits, handling the full policy lifecycle from new business issuance to ongoing servicing and claims. It leverages a microservices architecture and low-code tools to enable rapid configuration and scalability for insurers. The system supports complex product modeling and seamless integrations with third-party ecosystems.
Pros
- Highly flexible low-code configuration for quick product launches and changes
- Scalable cloud-native architecture supporting high volumes
- Comprehensive support for life insurance lifecycles including illustrations and claims
Cons
- Steep initial implementation and customization learning curve
- Enterprise-level pricing not suited for small carriers
- Limited transparency on pricing and public resources
Best For
Mid-to-large life insurers looking to modernize legacy systems with a scalable, configurable platform.
Pricing
Custom enterprise licensing with implementation fees; typically starts at $500K+ annually for mid-sized deployments.
DXC Technology
enterpriseInsureLife by DXC provides end-to-end policy administration for life and health insurers.
AI-powered policy servicing engine that automates straight-through processing for 80%+ of routine transactions
DXC Technology provides enterprise-grade life insurance policy administration software through its DXC Assure platform and related solutions, managing the full policy lifecycle from quoting and issuance to servicing, claims, and surrenders. It supports complex product customization, regulatory compliance across multiple jurisdictions, and seamless integration with legacy systems and third-party tools. Designed for large insurers, it leverages AI and analytics for enhanced decision-making and operational efficiency.
Pros
- Highly scalable for global enterprise operations
- Robust compliance and regulatory reporting tools
- Advanced integration with core banking and CRM systems
Cons
- Complex and lengthy implementation process
- Steep learning curve for end-users
- Premium pricing with high customization costs
Best For
Large life insurance carriers with complex product portfolios and global operations needing a highly customizable policy administration system.
Pricing
Custom enterprise licensing with multi-year contracts; pricing starts at $500K+ annually based on scale, plus implementation fees.
Oracle
enterpriseOracle Insurance Policy Administration for Life handles policy servicing, claims, and illustrations.
Oracle Insurance Rules for Digital Insurance, enabling no-code configuration of complex life insurance products and rules
Oracle offers comprehensive enterprise software solutions for life insurance policy administration through its Oracle Insurance platform, including Policy Administration for Life and Annuity, which manages the full policy lifecycle from quoting and underwriting to servicing and claims. Leveraging Oracle's robust cloud infrastructure and database technology, it supports complex product configurations, regulatory compliance, and integration with CRM and analytics tools. Designed for large-scale insurers, it emphasizes scalability and automation in a digital-first environment.
Pros
- Highly scalable for enterprise-level operations with massive data handling
- Advanced analytics and AI-driven automation for underwriting and claims
- Seamless integration with Oracle's ecosystem including cloud and ERP systems
Cons
- Steep learning curve and complex implementation requiring specialized expertise
- High upfront and ongoing costs unsuitable for smaller firms
- Customization often demands significant development resources
Best For
Large insurance carriers with complex, high-volume policy needs and existing Oracle infrastructure.
Pricing
Custom enterprise licensing starting at $500K+ annually, plus implementation fees often exceeding $1M depending on scale.
Ebix
enterpriseEbixLife offers integrated policy management and servicing tools for life insurance carriers.
Ebix Exchange, a global insurance marketplace that streamlines quoting and binding across numerous life insurance carriers.
Ebix offers a comprehensive suite of insurance software solutions, including policy administration, quoting engines, and agency management systems specifically tailored for life insurance providers. The platform supports the full policy lifecycle, from new business submission and underwriting to ongoing servicing and renewals. With a focus on digital distribution, Ebix enables seamless integration with carriers and third-party systems, making it suitable for agencies handling complex life insurance products.
Pros
- Strong carrier integrations and marketplace connectivity
- Scalable for mid-to-large agencies
- Robust reporting and compliance tools
Cons
- Dated user interface requiring training
- Lengthy implementation process
- Inconsistent customer support experiences
Best For
Mid-sized life insurance agencies or brokers needing integrated policy management with multiple carrier connections.
Pricing
Custom quote-based pricing; typically $50-150 per user/month depending on modules and scale, with enterprise options available.
iPipeline
specializedStreamlines life insurance quoting, underwriting, and policy fulfillment through its digital platform.
Straight-Through Processing (STP) engine that automates policy issuance from application to delivery with minimal human touch.
iPipeline provides a comprehensive digital platform, primarily through its Affinity solution, that manages the full life insurance policy lifecycle including quoting, underwriting, e-applications, new business processing, and policy servicing. It emphasizes straight-through processing (STP) to automate workflows, reduce manual intervention, and accelerate policy issuance for carriers and distributors. The software integrates with CRM systems, carrier portals, and compliance tools, serving the life insurance and annuity markets effectively.
Pros
- Advanced straight-through processing (STP) achieving up to 90% automation rates
- Seamless integrations with carriers, distributors, and third-party systems
- Strong compliance and regulatory reporting capabilities
Cons
- Enterprise-level pricing can be prohibitive for smaller agencies
- Steep initial learning curve for complex workflows
- Customization often requires vendor support and additional costs
Best For
Mid-to-large life insurance carriers and distributors needing end-to-end policy administration and automation.
Pricing
Custom enterprise pricing via quote; subscription-based model typically per user, transaction volume, or platform modules, starting in the mid-five figures annually.
AgencyBloc
specializedCRM platform designed for life and annuity agencies to manage policies, commissions, and client data.
Client Lifecycle Management that automates workflows from lead capture through policy renewals and retention
AgencyBloc is a CRM and agency management platform tailored for insurance brokers handling life insurance, Medicare, and ancillary products. It provides tools for client lifecycle management, including lead tracking, quoting, enrollment, policy servicing, renewals, and compliance reporting. The software emphasizes HIPAA compliance, carrier integrations, and analytics to help agencies streamline operations and maintain regulatory adherence.
Pros
- Strong focus on compliance and HIPAA security for insurance agencies
- Seamless carrier integrations for quoting and enrollment
- Intuitive interface with mobile access for on-the-go agents
Cons
- Limited depth in advanced policy administration compared to dedicated servicing platforms
- Pricing scales quickly for larger teams
- Customization options require professional services
Best For
Small to mid-sized life insurance agencies seeking an all-in-one CRM for sales, service, and compliance.
Pricing
Custom quotes starting at around $125/user/month, with tiers based on users, features, and enterprise add-ons.
Conclusion
This review highlights Majesco as the top choice, boasting a modern, cloud-native policy administration system that stands out for its tailored design. Sapiens and Duck Creek follow as strong alternatives, with Sapiens offering a comprehensive digital platform and Duck Creek delivering advanced analytics—each tool brings unique value to meet diverse operational needs.
Don’t miss the opportunity to explore Majesco’s innovative solution, now the top-ranked tool, while considering Sapiens or Duck Creek if specific features align with your unique requirements.
Tools Reviewed
All tools were independently evaluated for this comparison