Solutions
Life Insurance Software
Life assurance is a long-duration business where policies live for decades. Ontech manages the full life policy lifecycle with recurring premium billing, beneficiary and nomination handling, surrender and maturity processing, and IFRS 17-ready measurement.
Definition. Life insurance software administers long-duration life and assurance policies — underwriting, premium billing, beneficiary management, surrenders, maturities and claims — over the many years a policy stays in force.
What life insurance administration requires
Unlike short-term general insurance, life products accrue value and obligations over time. The system tracks recurring premiums, lapses and reinstatements, policy loans, surrenders and maturities, and links each to the actuarial and IFRS 17 measurement (typically the General Measurement Model).
Capabilities
- Recurring premium billing and collection
- Beneficiary and nomination management
- Lapse, reinstatement, surrender and maturity workflows
- Actuarial and IFRS 17 (GMM) support
- Claims and payout processing
Business benefits
- Accurate long-duration policy administration
- IFRS 17-ready measurement from live data
- Automated recurring premium collection
Frequently asked questions
Does the platform support long-duration life policies?
Which IFRS 17 model applies to life insurance?
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See the platform on your data
Talk to the Ontech team about deploying the Enterprise Insurance Operating System for your business in Zambia.
Last reviewed: 2026-07-29