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.
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 | |||
|---|---|---|---|
| Year | 2023 | 2028 | 2023-2028 CAGR, % |
| Total | 7179 | 8789 | 4.1% |
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.
| Rank | Vendor | 2021 Life Insurance Apps Revenues, $M | 2022 Life Insurance Apps Revenues, $M | 2023 Life Insurance Apps Revenues, $M | YoY Growth | 2023 Life Insurance Market Share, % |
|---|---|---|---|---|---|---|
| 1 | Salesforce | Subscribe | Subscribe | Subscribe | 12.4% | Subscribe |
| 2 | Microsoft | Subscribe | Subscribe | Subscribe | 7.0% | Subscribe |
| 3 | Roper Technologies, Inc. | Subscribe | Subscribe | Subscribe | 16.2% | Subscribe |
| 4 | SAP | Subscribe | Subscribe | Subscribe | 5.7% | Subscribe |
| 5 | Oracle | Subscribe | Subscribe | Subscribe | 7.9% | Subscribe |
| 6 | Subscribe | Subscribe | Subscribe | 22.9% | Subscribe | |
| 7 | Adobe | Subscribe | Subscribe | Subscribe | 13.0% | Subscribe |
| 8 | ServiceNow | Subscribe | Subscribe | Subscribe | 25.1% | Subscribe |
| 9 | Applied Systems Inc. | Subscribe | Subscribe | Subscribe | 3.6% | Subscribe |
| 10 | Sapiens International Corporation | Subscribe | Subscribe | Subscribe | 8.4% | Subscribe |
| Subtotal | Subscribe | Subscribe | Subscribe | 11.6% | Subscribe | |
| Other | Subscribe | Subscribe | Subscribe | 9.1% | Subscribe | |
| Total | 5569 | 6504 | 7179 | 10.4% | 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
- Unified Patents, a United States based Professional Services organization with 40 Employees
- Unified Patents, a United States based Professional Services company with 40 Employees
- QualityKiosk Technologies, a India based Professional Services organization with 3500 Employees
| Logo | Company | Industry | Employees | Revenue | Country | Evaluated |
|---|---|---|---|---|---|---|
 | Unified Patents | Professional Services | 40 | $4M | United States | 2025-01-06 |
| Subscribe | Subscribe | Professional Services | 40 | $4M | United States | 2025-01-05 |
| Subscribe | Subscribe | Professional Services | 3500 | $850M | India | 2024-12-29 |
| Subscribe | Subscribe | Education | 43000 | $7.1B | United States | 2024-12-27 |
| Subscribe | Subscribe | Professional Services | 11774 | $1.4B | Japan | 2024-12-19 |
| Subscribe | Subscribe | Professional Services | 11774 | $1.4B | Japan | 2024-12-09 |
| Subscribe | Subscribe | Professional Services | 30 | $3M | Australia | 2024-12-08 |
| Subscribe | Subscribe | Professional Services | 10 | $1M | India | 2024-12-08 |
| Subscribe | Subscribe | Utilities | 164640 | $39.9B | France | 2024-11-18 |
| Subscribe | Subscribe | Professional Services | 11774 | $1.4B | Japan | 2024-11-18 |
| Subscribe | Subscribe | Professional Services | 11774 | $1.4B | Japan | 2024-11-15 |
| Subscribe | Subscribe | Education | 300 | $33M | United States | 2024-11-12 |
| Subscribe | Subscribe | Insurance | 650 | $527M | United States | 2024-11-11 |
| Subscribe | Subscribe | Professional Services | 268655 | $63.2B | Japan | 2024-10-17 |
| Subscribe | Subscribe | Manufacturing | 3300 | $1.3B | Germany | 2024-09-18 |
| Subscribe | Subscribe | Insurance | 386 | $20M | Sri Lanka | 2024-09-10 |
| Subscribe | Subscribe | Banking and Financial Services | 10 | $1M | United States | 2024-09-03 |
| Subscribe | Subscribe | Professional Services | 32000 | $12.3B | United States | 2024-09-02 |
| Subscribe | Subscribe | Professional Services | 450 | $50M | United States | 2024-09-02 |
| Subscribe | Subscribe | Banking and Financial Services | 1000 | $250M | United States | 2024-08-30 |
| Subscribe | Subscribe | Banking and Financial Services | 309926 | $158.1B | United States | 2024-08-29 |
| Subscribe | Subscribe | Banking and Financial Services | 4600 | $2.0B | France | 2024-08-23 |
| Subscribe | Subscribe | Non Profit | 10 | $1M | United States | 2024-08-19 |
| Subscribe | Subscribe | Banking and Financial Services | 309926 | $158.1B | United States | 2024-07-24 |
| Subscribe | Subscribe | Professional Services | 10 | $1M | India | 2024-07-11 |
| Subscribe | Subscribe | Manufacturing | 270000 | $22.5B | South Korea | 2024-07-09 |
| Subscribe | Subscribe | Professional Services | 400 | $40M | India | 2024-07-07 |
| Subscribe | Subscribe | Banking and Financial Services | 18000 | $11.5B | United States | 2024-06-25 |
| Subscribe | Subscribe | Professional Services | 16000 | $5.0B | United States | 2024-06-19 |
| Subscribe | Subscribe | Media | 500 | $259M | United States | 2024-06-19 |
| Subscribe | Subscribe | Professional Services | 30 | $4M | United States | 2024-06-19 |
| Subscribe | Subscribe | Non Profit | 300 | $50M | United States | 2024-06-19 |
| Subscribe | Subscribe | Professional Services | 273424 | $36.4B | Netherlands | 2024-06-13 |
| Subscribe | Subscribe | Professional Services | 273424 | $36.4B | Netherlands | 2024-06-12 |
| Subscribe | Subscribe | Professional Services | 90500 | $11.0B | Canada | 2024-06-07 |
Worldwide Enterprise Applications by Vertical Market
Exhibit 3 provides a forecast of the worldwide enterprise applications by vertical market from 2023 to 2028, highlighting market sizes, year-over-year growth, and compound annual growth rates across different industry sectors from Aerospace and Defense to Utilities.
Exhibit 3: Worldwide Enterprise Applications by Vertical Market Forecast 2023-2028 by Functional Market ($M)
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.
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.
| Customer | Industry | Empl. | Revenue | Country | Vendor | New Product | Function |
| Die Mobiliar | Insurance | 4400 | $1.30B | Switzerland | Oracle | Oracle Autonomous Data Warehouse | Autonomous Database |
| Liberty Mutual Insurance | Insurance | 50000 | $39.41B | United States | ASG Technologies | Mobius | Content Management |
| Turner Construction Company | Insurance | 9000 | $11.77B | United States | Axios Systems | Assyst ITSM Solution | IT Service Management |
| Helsana | Insurance | 3214 | $6.07B | Switzerland | BMC Software | BMC Remedy ITSM Suite | IT Service Management |
| PacÃfico Seguros | Insurance | 5000 | $500.0M | Peru | CA Technologies | CA Project & Portfolio Management | Project Portfolio Management |
| Zurich Insurance | Insurance | 55000 | $63.96B | Switzerland | Coupa Software | Coupa Procurement | Procurement |
| Zurich Insurance UK | Insurance | 2500 | $2.19B | United Kingdom | Medallia | Medallia Experience Cloud | Customer Experience |
| Towergate Insurance | Insurance | 5000 | $430.0M | United Kingdom | Microsoft | Microsoft Dynamics 365 for Finance and Operations | Enterprise Resource Planning |
| West Midlands Police | Insurance | 10884 | $728.0M | United Kingdom | Oracle | Oracle CX Cloud | Customer Experience |
| West Midlands Police | Insurance | 10884 | $728.0M | United Kingdom | Oracle | Oracle ERP Cloud | Enterprise Resource Planning |
| West Midlands Police | Insurance | 10884 | $728.0M | United Kingdom | Oracle | Oracle HCM Cloud | Human Capital Management |
| Tokio Marine HCC | Insurance | 2500 | $2.30B | United States | Pegasystems | Pega 7 Platform | CRM |
| Liberty Speciality Markets | Insurance | 1700 | $200.0M | United Kingdom | SAP | SAP S/4 HANA | Enterprise Resource Planning |
| Federal Deposit Insurance | Insurance | 8713 | $39.10B | United States | Avaya | Avaya Aura | Customer Service and Support |
| Progressive | Insurance | 28580 | $22.69B | United States | Avaya | Avaya Aura | Customer Service and Support |
| Generali Hellas S.A. | Insurance | 100 | $10.0M | Greece | EMC | EMC Documentum D2Â | Collaboration |
| Mercury Insurance | Insurance | 5100 | $3.09B | United States | IBM | IBM Kenexa BrassRing | Applicant Tracking Systems |
| AIG | Insurance | 65000 | $64.40B | United States | Interactive Intelligence | PureCloud | Customer Engagement Platform |
| Unum | Insurance | 9400 | $3.52B | United States | Interactive Intelligence | PureCloud | Customer Engagement Platform |
| AAA | Insurance | 5200 | $1.90B | United States | LiveOps | LiveOps | Cloud Contact Center |
| MetLife | Insurance | 38722 | $52.72B | United States | LiveOps | LiveOps | Cloud Contact Center |
| Arch Insurance Group Inc. | Insurance | 1240 | $100.0M | United States | Microsoft | Microsoft Dynamics GP | Enterprise Resource Planning |
| Berkley Risk Administrators Company LLC | Insurance | 270 | $30.0M | United States | Microsoft | Microsoft Dynamics GP | Enterprise Resource Planning |
| Long Term Care Group, Inc | Insurance | 1100 | $250.0M | United States | Microsoft | Microsoft Dynamics GP | Enterprise Resource Planning |
| Overland Solutions | Insurance | 300 | $30.0M | United States | Microsoft | Microsoft Dynamics GP | Enterprise Resource Planning |
| SIHO Insurance Services | Insurance | 300 | $30.0M | United States | Microsoft | Microsoft Dynamics GP | Enterprise Resource Planning |
| Admiral Group Plc | Insurance | 8000 | $904.0M | United Kingdom | MicroStrategy | MicroStrategy Analytics | Analytics Platform |
| JLT Group | Insurance | 1200 | $200.0M | Australia | NetSuite | Netsuite OpenAir | Professional Services Automation |
| LTC Partners | Insurance | 250 | $20.0M | United States | Nice Systems | NICE IEX Workforce Management | Workforce Management Software |
| Allstate | Insurance | 40200 | $35.70B | United States | Oracle | Oracle Taleo Cloud Service | Talent Management |
| Cigna | Insurance | 39300 | $38.76B | United States | Oracle | Oracle Service Cloud (ex RightNow) | Customer Experience Platform |
| Federal Deposit Insurance | Insurance | 8713 | $39.10B | United States | Oracle | Oracle ERP Cloud | Enterprise Resource Planning |
| Helsana | Insurance | 3214 | $6.07B | Switzerland | Oracle | Oracle WebCenter Sites | Web Experience Management Solution |
| Tian An Life Insurance Co., Ltd. | Insurance | 1000 | $500.0M | China | Oracle |  Schedule A DemoPlease tell us about yourself and your company (all fields required): |