Deal Trends and Projections in the P&C PAS Market: 2016 North America Edition

by Donald Light, July 29, 2016
Industry Trends
North America

Abstract

Celent has released a new report titled Deal Trends and Projections in the P&C PAS Market: 2016 North America Edition. The report was written by Donald Light, Director in Celent’s North America Property/Casualty Insurance practice.

In January 2016, Celent published North America Policy Administration Solutions: Property & Casualty, General, and Specialty Lines ABCD Vendor View. This report included vendor-supplied data about sales for the two-year period from Q3 2013 to Q2 2015; and customer counts as of Q2 2015. 

The prior version of this report, North American Policy Administration Systems 2013: Personal, Commercial, and Specialty ABCD Vendor View, was published in November 2013 and included comparable vendor-supplied data about sales in an earlier two year period and customer counts as of Q2 2013.

The new report provides a view of the market and deal trends for P&C policy administration systems in North America for the four-year period covered by the two earlier reports referenced above, and looks forward for the two-year period from Q3 2015 to Q2 2017.

“Celent believes that sales of P&C PAS systems in North America will continue at a steady pace during the period from mid-2015 to mid-2017. While many insurers have already replaced legacy systems, there is a significant number which have not. The same business drivers which have influenced purchase decisions will continue,” comments Light.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

1

 

Key Research Questions

1

Introduction

2

 

Key Research Questions

2

 

Report Approach

2

 

Report Limitations

3

The North America P&C PAS Market

4

 

PAS Systems in Production by Size of Insurer

4

 

Established Vendor Market

4

 

Estimated Market Size

4

Recent P&C PAS Software Deals

5

Estimate of P&C PAS Future Deals

7

Conclusion

8

 

Advice for P&C PAS Vendors

8

 

Advice for Insurers

8

Leveraging Celent’s Expertise

9

 

Support for Financial Institutions

9

 

Support for Vendors

9

Related Celent Research

10

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