In 2023, the global Life Insurance software market surged to nearly $7.2 billion, growing by 10.4%. The top 10 vendors commanded a significant 50.6% market share, with Salesforce leading at 19.4%, followed by Microsoft, Roper Technologies, SAP, and Oracle.

Our APPS TOP 500 Market Report (Preview) covers hundreds of Life Insurance software vendors, offering deep insights into market dynamics, vendor strengths, AI investments, customer momentum, and go-to-market strategies providing valuable perspectives on market trends and challenges.

Discover thousands of Life Insurance Customer Wins with the ARTW Technographics Platform, an essential resource for technology enthusiasts, sales business leaders, and data-driven marketing executives, offering curated insights into the evolving landscape of the software industry, including the latest developments in Life Insurance.

Exhibit 1 - 2023 Life Insurance Applications Applications Market Shares Split By Top 10 Communication Vendors and Others
Exhibit 1 – 2023 Life Insurance Applications Applications Market Shares Split By Top 10 Life Insurance Vendors and Others

Through our forecast period, the Life Insurance applications market is expected to reach $88 billion by 2028, compared with $7.2 billion in 2023 at a compound annual growth rate of 4.1%.

Exhibit 2: Worldwide Life Insurance Software Market 2023-2028 Forecast, $M
Year202320282023-2028 CAGR, %
Total717987894.1%

Source: Apps Run The World, June 2024

Top 10 Life Insurance Software vendors

Life Insurance (Entities that offer noncompulsory insurance of any kind) – Agency management system, Policy administration solutions, Pensions administration software, Billing and Claims software, Underwriting, Insurance Broker and Financial Planning Software, Financials, HR, Procurement

Big Data analytics will be one of the key investment areas for insurers aiming to capture and gain more insights on their customers while stepping up Cloud developments for tighter collaboration with agencies and brokers in moves that could redefine how insurance is being sold in the future.

Here are the rankings of the top 10 Life Insurance software vendors in 2023 and their market shares.

RankVendor2021 Life Insurance Apps Revenues, $M2022 Life Insurance Apps Revenues, $M2023 Life Insurance Apps Revenues, $MYoY Growth2023 Life Insurance Market Share, %
1Salesforce Subscribe Subscribe Subscribe12.4% Subscribe
2Microsoft Subscribe Subscribe Subscribe7.0% Subscribe
3Roper Technologies, Inc. Subscribe Subscribe Subscribe16.2% Subscribe
4SAP Subscribe Subscribe Subscribe5.7% Subscribe
5Oracle Subscribe Subscribe Subscribe7.9% Subscribe
6Google Subscribe Subscribe Subscribe22.9% Subscribe
7Adobe Subscribe Subscribe Subscribe13.0% Subscribe
8ServiceNow Subscribe Subscribe Subscribe25.1% Subscribe
9Applied Systems Inc. Subscribe Subscribe Subscribe3.6% Subscribe
10Sapiens International Corporation Subscribe Subscribe Subscribe8.4% Subscribe
Subtotal Subscribe Subscribe Subscribe11.6% Subscribe
Other Subscribe Subscribe Subscribe9.1% Subscribe
Total55696504717910.4%100.0%

Source: Apps Run The World, June 2024

Other Life Insurance software providers included in the report are: ACI Worldwide, Inc., ADP, Aptitude Software, Acturis Group, Atlassian, Aurea, CCC Intelligent Solutions, eBaoTech Corporation, BriteCore, Insuresoft, EIS Group, Cegedim, Constellation Software Inc., Cisco Systems, Citrix, Cornerstone OnDemand, DATEV, DocuSign, Inc., DXC Technology – Insurance, Dropbox, Edgeverve, an Infosys company, Edlund A/S, Envestnet, Equifax, Exela Technologies, Inc., Fadata, FICO, Fineos, FIS Global, Fiserv, Genesys Telecommunications Laboratories, GoodData, Google, HubSpot, Hypoport SE, Hyland, Insurity, Inc., Intuit Inc., IBM, Keylane, Kofax, Linedata Services S.A., Majesco, Mitchell International, Inc., Nice Systems, OneShield Software, Open Text Corporation, Pegasystems, Rent Manager by London Computer Systems, RingCentral, Roper Technologies, Inc., SAS Institute, ServiceNow, Silverlake Axis, SimCorp, Sistran, Solera Holdings, Teradata Corporation, The Innovation Group, UKG, Verint Systems Inc., Verisk Analytics, Inc., Vitech Systems Group, Wolters Kluwer, Workday, Zywave, Zoom Video Communications, and others.

Custom data cuts related to the Life Insurance Applications market are available:

  • Top 850+ Life Insurance Applications Vendors and Market Forecast 2023-2028
  • 2023 Life Insurance Applications Market By Functional Market (16 Markets)
  • 2023 Life Insurance Applications Market By Country (USA + 45 countries)
  • 2023 Life Insurance Applications Market By Region (Americas, EMEA, APAC)
  • 2023 Life Insurance Applications Market By Revenue Type (License, Services, Hardware, Support and Maintenance, Cloud)
  • 2023 Life Insurance Applications Market By Customer Size (revenue, employee count, asset)
  • 2023 Life Insurance Applications Market By Channel (Direct vs Direct)
  • 2023 Life Insurance Applications Market By Product
Buyer Intent: Companies Reading this Research Report
ARTW Buyer Intent uncovers actionable customer signals, identifying software buyers actively reading this research report. Gain ongoing access to real-time prospects and uncover hidden opportunities. Companies Actively accessing this research report include:
  1. Aquiline Capital Partners, a United States based Banking and Financial Services organization with 75 Employees
  2. Internet Archive, a United States based Non Profit company with 169 Employees
  3. University Of Saarland, a Germany based Education organization with 375 Employees
LogoCompanyIndustryEmployeesRevenueCountryEvaluated

Worldwide Enterprise Applications by Vertical Market

Exhibit 3 provides a forecast of the worldwide enterprise applications by vertical market from 2023 to 2028, highlighting market sizes, year-over-year growth, and compound annual growth rates across different industry sectors from Aerospace and Defense to Utilities.

Exhibit 3: Worldwide Enterprise Applications by Vertical Market Forecast 2023-2028 by Functional Market ($M)

Vertical Market, $M202120222023YoY Growth20282023-2028 CAGR, %
Aerospace & Defense Subscribe Subscribe Subscribe Subscribe Subscribe4.7
Automotive Subscribe Subscribe Subscribe Subscribe Subscribe3.2
Banking and Financial Services Subscribe Subscribe Subscribe Subscribe Subscribe3.4
Communications Subscribe Subscribe Subscribe Subscribe Subscribe3.8
Construction Subscribe Subscribe Subscribe Subscribe Subscribe4.7
Real Estate Subscribe Subscribe Subscribe Subscribe Subscribe3.3
Consumer Packaged Goods Subscribe Subscribe Subscribe Subscribe Subscribe4.5
Distribution Subscribe Subscribe Subscribe Subscribe Subscribe4.0
K-12 Subscribe Subscribe Subscribe Subscribe Subscribe4.1
Higher Education Subscribe Subscribe Subscribe Subscribe Subscribe3.9
Federal Government Subscribe Subscribe Subscribe Subscribe Subscribe4.3
State and Local Government Subscribe Subscribe Subscribe Subscribe Subscribe3.6
Public Safety Subscribe Subscribe Subscribe Subscribe Subscribe4.2
Healthcare Subscribe Subscribe Subscribe Subscribe Subscribe3.7
Life Insurance Subscribe Subscribe Subscribe Subscribe Subscribe4.1
P&C Insurance Subscribe Subscribe Subscribe Subscribe Subscribe4.5
Specialty Insurance Subscribe Subscribe Subscribe Subscribe Subscribe4.3
Leisure and Recreation Subscribe Subscribe Subscribe Subscribe Subscribe4.8
Hospitality and Lodging Subscribe Subscribe Subscribe Subscribe Subscribe5.0
Life Sciences Subscribe Subscribe Subscribe Subscribe Subscribe3.5
Manufacturing Subscribe Subscribe Subscribe Subscribe Subscribe3.9
Media Subscribe Subscribe Subscribe Subscribe Subscribe4.0
Faith-Based Nonprofit Subscribe Subscribe Subscribe Subscribe Subscribe3.6
Youth & Elderly Care Nonprofit Subscribe Subscribe Subscribe Subscribe Subscribe4.2
Special Cause Nonprofit Subscribe Subscribe Subscribe Subscribe Subscribe4.1
Oil and Gas Subscribe Subscribe Subscribe Subscribe Subscribe3.7
Professional Services Subscribe Subscribe Subscribe Subscribe Subscribe4.6
Retail Subscribe Subscribe Subscribe Subscribe Subscribe4.7
Transportation Subscribe Subscribe Subscribe Subscribe Subscribe4.5
Utility Subscribe Subscribe Subscribe Subscribe Subscribe3.8
Total Subscribe Subscribe Subscribe Subscribe Subscribe4.1

Source: Apps Run The World, June 2024

Exhibit 4 shows our projections for the enterprise applications market by vertical segment, based on the buying preferences and the customer propensity to invest in new software within those industries as they continue to upgrade and replace many legacy industry-specific applications that have been identified and tracked in our Buyer Insight Database.

Exhibit 4: Worldwide Enterprise Applications Market Forecast 2023-2028, By Vertical Market, $M
Exhibit 4: Worldwide Enterprise Applications Market Forecast 2023-2028, By Vertical Market, $M

Life Insurance Software Purchases Win/Loss Analysis As Part Of Enterprise Applications Buyer Insight Customer Database

On the buyer side, customers are investing in Life Insurance systems based on new features and capabilities that are expected to replace their existing legacy systems. In many cases, competitive upgrades and replacements that could have a profound impact on future market-share changes will become more widespread.

Since 2010, our global team of researchers have been studying the patterns of the latest Life Insurance software purchases by customers around the world, aggregating massive amounts of data points that form the basis of our forecast assumptions and perhaps the rise and fall of certain vendors and their products on a quarterly basis.

Updated continuously, our database features extensive win/loss analysis. Each year our research team identifies tens of thousands of these Insurance customer wins and losses from public and proprietary sources.

The research results are being incorporated into regular updates in our Enterprise Applications Buyer Insight Customer Database. You can access the Quarterly Win/Loss Analysis Scoreboard and our Enterprise Applications Buyer Insight Customer Database by becoming a subscriber.

CustomerIndustryEmpl.RevenueCountryVendorNew ProductFunction
Die MobiliarInsurance4400$1.30BSwitzerlandOracleOracle Autonomous Data WarehouseAutonomous Database
Liberty Mutual InsuranceInsurance50000$39.41BUnited StatesASG TechnologiesMobiusContent Management
Turner Construction CompanyInsurance9000$11.77BUnited StatesAxios SystemsAssyst ITSM SolutionIT Service Management
HelsanaInsurance3214$6.07BSwitzerlandBMC SoftwareBMC Remedy ITSM SuiteIT Service Management
Pacífico SegurosInsurance5000$500.0MPeruCA TechnologiesCA Project & Portfolio ManagementProject Portfolio Management
Zurich InsuranceInsurance55000$63.96BSwitzerlandCoupa SoftwareCoupa ProcurementProcurement
Zurich Insurance UKInsurance2500$2.19BUnited KingdomMedalliaMedallia Experience CloudCustomer Experience
Towergate InsuranceInsurance5000$430.0MUnited KingdomMicrosoftMicrosoft Dynamics 365 for Finance and OperationsEnterprise Resource Planning
West Midlands PoliceInsurance10884$728.0MUnited KingdomOracleOracle CX CloudCustomer Experience
West Midlands PoliceInsurance10884$728.0MUnited KingdomOracleOracle ERP CloudEnterprise Resource Planning
West Midlands PoliceInsurance10884$728.0MUnited KingdomOracleOracle HCM CloudHuman Capital Management
Tokio Marine HCCInsurance2500$2.30BUnited StatesPegasystemsPega 7 PlatformCRM
Liberty Speciality MarketsInsurance1700$200.0MUnited KingdomSAPSAP S/4 HANAEnterprise Resource Planning
Federal Deposit InsuranceInsurance8713$39.10BUnited StatesAvayaAvaya AuraCustomer Service and Support
ProgressiveInsurance28580$22.69BUnited StatesAvayaAvaya AuraCustomer Service and Support
Generali Hellas S.A.Insurance100$10.0MGreeceEMCEMC Documentum D2 Collaboration
Mercury InsuranceInsurance5100$3.09BUnited StatesIBMIBM Kenexa BrassRingApplicant Tracking Systems
AIGInsurance65000$64.40BUnited StatesInteractive IntelligencePureCloudCustomer Engagement Platform
UnumInsurance9400$3.52BUnited StatesInteractive IntelligencePureCloudCustomer Engagement Platform
AAAInsurance5200$1.90BUnited StatesLiveOpsLiveOpsCloud Contact Center
MetLifeInsurance38722$52.72BUnited StatesLiveOpsLiveOpsCloud Contact Center
Arch Insurance Group Inc.Insurance1240$100.0MUnited StatesMicrosoftMicrosoft Dynamics GPEnterprise Resource Planning
Berkley Risk Administrators Company LLCInsurance270$30.0MUnited StatesMicrosoftMicrosoft Dynamics GPEnterprise Resource Planning
Long Term Care Group, IncInsurance1100$250.0MUnited StatesMicrosoftMicrosoft Dynamics GPEnterprise Resource Planning
Overland SolutionsInsurance300$30.0MUnited StatesMicrosoftMicrosoft Dynamics GPEnterprise Resource Planning
SIHO Insurance ServicesInsurance300$30.0MUnited StatesMicrosoftMicrosoft Dynamics GPEnterprise Resource Planning
Admiral Group PlcInsurance8000$904.0MUnited KingdomMicroStrategyMicroStrategy AnalyticsAnalytics Platform
JLT GroupInsurance1200$200.0MAustraliaNetSuiteNetsuite OpenAirProfessional Services Automation
LTC PartnersInsurance250$20.0MUnited StatesNice SystemsNICE IEX Workforce ManagementWorkforce Management Software
AllstateInsurance40200$35.70BUnited StatesOracleOracle Taleo Cloud ServiceTalent Management
CignaInsurance39300$38.76BUnited StatesOracleOracle Service Cloud (ex RightNow)Customer Experience Platform
Federal Deposit InsuranceInsurance8713$39.10BUnited StatesOracleOracle ERP CloudEnterprise Resource Planning
HelsanaInsurance3214$6.07BSwitzerlandOracleOracle WebCenter SitesWeb Experience Management Solution
Tian An Life Insurance Co., Ltd. Insurance1000$500.0MChinaOracle<a href=”https://www.appsruntheworld.com/customers-database/products/