The global Life and Annuities (L&A) insurance industry is significantly transforming as insurers navigate evolving customer expectations, regulatory pressures, and macroeconomic uncertainties. Legacy systems continue to hinder agility and innovation, posing challenges to operational efficiency. However, there is a growing recognition of the need for digitalization to streamline operations, enhance customer experience, and remain competitive in a rapidly changing market. Given the situation, providers are at the forefront of addressing these challenges, catering to a broad spectrum of L&A insurance needs, spanning product categories such as life, annuities, retirement, and group benefits. They are moving beyond cost-focused outsourcing to value-driven, transformative solutions driven by the growing adoption of BPaaS and Third-party Administrator (TPA) models. Strategic partnerships with InsurTechs, AI advancements, and talent investments are enabling them to deliver more impactful and innovative solutions to the L&A insurance industry. Life and Annuities (L&A) Insurance BPS and Third-Party Administrator (TPA) Service Provider Compendium 2025 provides accurate, comprehensive, and fact-based snapshots of 24 L&A insurance BPS/TPA providers. Each profile offers a comprehensive picture of the provider’s services suite, scale of operations, recent developments and investments, technology solutions, and delivery locations. The report also provides insights on the global L&A insurance BPS/TPA provider landscape.

Scope

• Industry: Life & Annuities (L&A) insurance
• Geography: Global

Contents

In this report, we feature 24 L&A insurance BPS/TPA service provider profiles and include:

• L&A insurance service suite and scale of operations: key leaders, services suite, FTEs, and recent developments and investments
• L&A insurance client portfolio: major clients and recently announced contracts, along with L&A insurance revenue split by geography and buyer size and FTE split by process and delivery location
• Global L&A insurance delivery locations: details of key delivery locations worldwide
• L&A insurance technology solutions/tools: brief descriptions of key technology solutions

Membership(s)

Insurance Business Process

Sourcing and Vendor Management