The achievement was highlighted in Celent’s latest report titled “Latin America Life Policy Administration Systems Deal Trends, 2023 Edition.”

Key findings in the report reveal a growing adoption of cloud-based solutions, emphasis on customer-centricity, and the use of advanced technologies like AI for data conversion, reflecting the region’s evolving insurance landscape.

Based on insights gleaned from a thorough Request for Information (RFI) process involving 22 life insurance PAS vendors, the report underscores Equisoft’s dominant position in the region’s PAS market. The data affirms Equisoft’s consistent success in securing new deals, reflecting its prominence as a preferred partner for Latin American insurers seeking efficient digital solutions to enhance policy administration processes.

“Conducting thorough vendor due diligence demands a deep understanding of the solution providers available and their offerings. This report serves as a valuable tool for life insurers looking to refine their vendor evaluation and selection process,” commented Fabio Sarrico, Insurance Analyst – LATAM & EMEA at Celent.

The report provides insights into the recent demand for PAS modernization among Latin American insurers, aligning with insurers’ priorities of improved customer experience, growth, digital acceleration, cybersecurity, and regulatory compliance.

“Our success in winning a substantial portion of new PAS implementations in the region is a testament to our position as a leader in the industry,” said Mauricio Monroy, Vice President, LATAM and Spain at Equisoft. “With 30 years of industry expertise, we strive to remain a trusted partner for life insurers seeking reliable solutions, cutting-edge technology, and unparalleled support.”