Topic: Insurance BPO Service Provider Profile Compendium Copyright © 2013, Everest Global, Inc. EGR-2013-11-PD-0812 Banking, Financial Services, and Insurance (BFSI) Outsourcing Market Report: January 2013 – Preview Deck
Apr 14, 2015
Topic: Insurance BPO Service Provider Profile Compendium
Copyright © 2013, Everest Global, Inc.EGR-2013-11-PD-0812
Banking, Financial Services, and Insurance (BFSI) OutsourcingMarket Report: January 2013 – Preview Deck
Copyright © 2013, Everest Global, Inc.EGR-2013-11-PD-0812
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Everest Group’s definition of BFSI includes the following three segments
1 Business-to-consumer relationships2 Business-to-business relationships
Retail financial services (B2C1)– Retail banking– Lending– Cards
Commercial banking (B2B2)
Banking
Investment banking
Asset management
Custody & fund administration
Brokerage
Capital markets
Life & pensions
Property & casualty
Insurance
Banking, Financial Services, and Insurance (BFSI)
Focus of this report
Note: This report covers vertical-specific BPO within the capital markets space. The report does not include coverage of horizontal business processes such as F&A, HR, procurement, and contact centers
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Table of contents
Section I: Insurance BPO service provider landscape snapshot5
Section II: Profile of insurance BPO Leaders 9 EXL Service
10 TCS
15 WNS
20
Section III: Profile of insurance BPO Major Contenders 25 Genpact
26 HCL
31 Infosys
36 Wipro
41
Section IV: Profile of insurance BPO Emerging Players 46 Capgemini
47 Cognizant
52 Serco
57
Section V: Appendix 62 PEAK Matrix framework
63 Glossary of terms used in the report
64 BFSI outsourcing research agenda
65 Additional insurance BPO research references
67
Topic Page no.
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ABC (page 1 of 5)
Insurance BPO overview
Recent acquisitions and partnerships XX XX XX XX
Recent developments XX XX XX XX
Suite of services XX XX XX XX
2010 2011
Revenue (US$ million) XX XX
Number of FTEs XX XX
Number of clients XX XX
Company overviewXX XX
Key leaders XX XX XX XX
Headquarter: XX, XXWebsite: www.abc.com
Source: Everest Group (2012)
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ABC (page 2 of 5)
Insurance BPO location landscape
Gurgaon
Kolkata
BangaloreChennaiMumbai
Cincinnati
Santiago
Source: Everest Group (2012)
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ABC (page 3 of 5)
Insurance BPO – capabilities and key clients
Key insurance engagements
Client name LoB Region Year since client
XX XX Life & pensions Europe 2006
XX XX Life & pensions North America 2007
XX XX Life & pensions Europe 2009
XX XX Life & pensions Europe 2011
Insurance BPO FTE mix by segmentFTEs in numbers
Insurance BPO revenue mix by geographyRevenue in US$ million
Split of FTEs by locationFTEs in numbers
Insurance BPO number of contracts by buyer sizeNumber of contracts
X%
X%
X%Asia Pacific
North America
Europe
Life & pension
Property & casualty
OffshoreOnshore
Near shore
LargeSmall
Medium
100% = 100% = 100% = 100% =
Source: Everest Group (2012)
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Tools XX XX XX
Solution description
XX XX XX
Year launched XX XX XX
LoB Life & pension, property & casualty, and retirement
Life & pension Life & pension and property & casualty
Number of clients
XX XX XX
ABC (page 4 of 5)
Insurance BPO technology solutions
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ABC (page 5 of 5)
Competitive position and assessment
Market share by insurance BPO line of business
Life & pension Property & casualty
XX% XX%
Overall market share
By number of contracts By FTEs By revenue
XX% XX% XX%Delivery capability assessment
Assessment dimension Rating Remarks
Scale XX
Scope XX
Technology capability
XX
Delivery footprint XX
High Low
Overall remarks XX XX XX XX XX XX
Market share by region
North America Europe Asia PacificMiddle East & Africa
XX% XX% XX% XX%
ABC is a Leader on Everest Group PEAK Matrix for insurance BPO
Ma
rke
t s
uc
ces
s
High
LowInsurance BPO delivery capabilityLow High
Emerging Players
Major Contenders
Leaders
ABC
Source: Everest Group (2012)
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BFSI Outsourcing research agenda (page 1 of 2)
Topic Release date
Published Current
June-2012IT Application Outsourcing (AO) in Banking – Trends and Future Outlook
August-2012Application Outsourcing (AO) in Banking: PEAK Matrix Provider Landscape – Evolution at Play
September-2012IT Application Outsourcing (AO) in Insurance – Navigating Business Challenges through Technology
October 2012
Applications Outsourcing in Banking – Service Provider Profile Compendium
October 2012Global Sourcing Trends in the U.S. Mortgage Industry
October 2012
A PEAK into the Leaders, Major Contenders, and Emerging Players of the Banking BPO Market
October 2012Webinar Deck: PEAK into the BFSI Outsourcing Market
June-2012Report Card for the Indian IT Majors – Pecking Order Analysis of the "WITCH" Group
July-2012BFS BPO Annual Report 2012 – Strong Growth Post the Downturn
May-2012Trade Reconciliations Business Process Outsourcing (BPO)
October 2012IT Application Outsourcing (AO) in Capital Markets Annual Report – Change is the only constant
November-2012Insurance Business Process Outsourcing (BPO) Market 2011-2012 – Annual Report
October 2012Application Outsourcing (AO) in Insurance: PEAK Provider Landscape – Policies for Growth and Differentiation
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BFSI Outsourcing research agenda (page 2 of 2)
Topic
November-2012Banking BPO Service Provider Profile Compendium
November-2012A PEAK into the Leaders, Major Contenders, and Emerging Players of Capital Markets BPO
Release date
January-2013Insurance BPO Service Provider Profile Compendium
Q1-2013
January-2013IT Application Services in Insurance – Service Provider Profile Compendium 2013
December-2012Service Provider Landscape for IT application services in Capital Markets – PEAK report 2012
December-2012A PEAK into the Leaders, Major Contenders, and Emerging Players of Insurance BPO
December 2012Capital Markets BPO Service Provider Profile Compendium
Published Current
IT Application Services in Capital Markets – Service Provider Profile Compendium 2013
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Additional insurance BPO research references
The following documents are recommended for additional insight on the topic covered in this report. The recommended documents provide either additional details on the topic or complementary content that may be of interest:
1. Insurance Business Process Outsourcing (BPO) Market 2011-2012 – Annual Report (EGR-2012-11-R-0781); 2012 This report discusses the global non-voice, third-party, industry-specific insurance BPO industry, providing coverage across market size and growth, solution characteristics, and the service provider landscape for the market
2. IT Application Outsourcing (AO) in Insurance – Navigating Business Challenges through Technology (ERI-2012-11-R-0744); 2012. This report provides an overview of the application services market for the insurance vertical, capturing key trends in market size, growth, drivers and inhibitors, adoption trends, regional/functional break-outs of the market, emerging themes and key areas of investment, and implications for key stakeholders. The focus in 2012 is also to capture the key movements in volumes/values of insurance-AO transactions, evolving trends, market dynamics, and emerging priorities of buyers in the last 12 months
3. Closed Books Insurance BPO: The Curious Divide across the Atlantic (EGR-2012-11-V-0665); 2012. This viewpoint analyzes the key underlying drivers behind closed books insurance BPO, the divide between United States and United Kingdom in closed books insurance BPO adoption across key dimensions, the future outlook and trajectory of these two markets, and implications for stakeholders
4. The Two Billion Dollar (and some more) Giant: Implications of TCS's Insurance BPO deal with Friends Life (ERI-2011-11-R-0612); 2011. This breaking viewpoint analyzes this deal and presents insights on why the deal came to be signed, why this was expected, what this portrays about the UK insurance BPO market, why this deal is significant for both insurers and BPO service providers and the trends that it affirms, how this deal will impact TCS in terms of scale, profits, future outlook, and things to watch out for
For more information on this and other research published by Everest Group, please contact us: Rajesh Ranjan, Vice President:Rishabh Gupta, Senior Analyst:Vikas Menghwani, Analyst:FS BPO Team:
Phone: +1-214-451-3110Email: [email protected]
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