Insurance Policy Administration Systems Software Market Size, Share, Competitive Landscape and Trend Analysis Report
The Business Research Company
The Business Research Company's Insurance Policy Administration Systems Software Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034
LONDON, GREATER LONDON, UNITED KINGDOM, December 1, 2025 /EINPresswire.com/ -- How Large Will The Insurance Policy Administration Systems Software Market Be By 2025?
The market for insurance policy administration systems software has seen a swift expansion in recent years. The growth trajectory is expected to continue, with a rise from $3.20 billion in 2024 to $3.60 billion in 2025, registering a compound annual growth rate (CAGR) of 12.5%. Factors contributing to this historic growth include heightened regulatory compliance mandates, the escalating need to modernise outdated systems, a surge in digital transformation of the insurance industry, an increasing demand for operational efficiency among insurers, and a growing emphasis on cost optimisation.
The growth of the insurance policy administration systems software market is anticipated to skyrocket in the coming years, with predictions estimating that it will reach a value of $5.69 billion by 2029, expanding at a compound annual growth rate (CAGR) of 12.2%. This expansion over the forecast period can be attributed to factors such as the expanding reach of insurance in emerging markets, a growing demand for automating the policy lifecycle, enhanced focus on customer experience and tailored policies, and an increase in partnerships between insurance companies and insurtech providers. Top trends guiding this period's growth encompass advancements in technologies such as artificial intelligence and machine learning, progress in the integration of blockchain and distributed ledgers, surging investments in the research and development of modular policy platforms, increased mobile-first innovations and self-service portals, and the evolution of low-code or no-code deployment strategies.
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What Are The Major Driving Forces Influencing The Insurance Policy Administration Systems Software Market Landscape?
The growth of the insurance policy administration systems software market is anticipated to skyrocket in the coming years, with predictions estimating that it will reach a value of $5.69 billion by 2029, expanding at a compound annual growth rate (CAGR) of 12.2%. This expansion over the forecast period can be attributed to factors such as the expanding reach of insurance in emerging markets, a growing demand for automating the policy lifecycle, enhanced focus on customer experience and tailored policies, and an increase in partnerships between insurance companies and insurtech providers. Top trends guiding this period's growth encompass advancements in technologies such as artificial intelligence and machine learning, progress in the integration of blockchain and distributed ledgers, surging investments in the research and development of modular policy platforms, increased mobile-first innovations and self-service portals, and the evolution of low-code or no-code deployment strategies.
Who Are The Top Players In The Insurance Policy Administration Systems Software Market?
Major players in the Insurance Policy Administration Systems Software Global Market Report 2025 include:
• Accenture plc
• Oracle Corporation
• Salesforce Company
• SAP SE
• Tata Consultancy Services
• Cognizant Technology Solutions Corporation
• Infosys Limited
• DXC Technology Company
• Concentrix Corporation
• EXL Service Holdings, Inc.
What Are The Top Trends In The Insurance Policy Administration Systems Software Industry?
Prominent businesses in the insurance policy administration systems software market are concentrating on producing technologically progressive solutions, like artificial intelligence-based SaaS solutions, to automate processes, amplify productivity, and elevate client experience. AI-based SaaS solutions pertain to cloud-deployed software applications utilizing AI technologies such as machine learning, natural language processing and predictive analytics to automate duties, analyze information, and optimize decisions instantly. For example, in July 2025, DXC Technology Company, a modern business, consulting, and cybersecurity services provider based in the US, unveiled DXC Assure Illustrations, an AI-driven SaaS solution used for life insurance projections. This solution offers a smarter, quicker, and more engaging perspective on life insurance illustrations, revolutionizing a key part of the customer journey. It includes built-in integrations to DXC’s life systems, reducing dependence on expensive external labor, thus speeding up production and enhancing operational effectiveness. This makes it a perfect choice for insurance companies seeking simplified, AI-enabled policy illustration and projection functionalities.
Market Share And Forecast By Segment In The Global Insurance Policy Administration Systems Software Market
The insurance policy administration systems software market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment Type: On-Premise, Cloud-Based
3) By Enterprise Size: Small And Medium Enterprises, Large Enterprises
4) By Application: Life Insurance, Health Insurance, Automobile Insurance, Home Insurance
5) By End-User Industry: Insurance Providers, Insurance Brokers, Third-Party Administrators
Subsegments:
1) By Software: Policy Administration Platform, Underwriting Management System, Claims Processing System, Billing And Payment Software, Reinsurance Management Module, Compliance And Reporting Software
2) By Services: Implementation And Integration Services, Consulting And Advisory Services, Support And Maintenance Services, Training And Education Services, Managed Services, System Upgradation And Migration Services
View the full insurance policy administration systems software market report:
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Insurance Policy Administration Systems Software Market Regional Insights
In 2024, North America led the way in the global market for insurance policy administration systems software. The report foresees it to continue this trend in growth. The reported regions in the study include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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