The insurance intermediary segments (agents, brokers, and managing general agents (MGAs)) across the globe had a strong uptick post the pandemic. This growth is due to the rising consolidation, rates hardening, increasing complexity of insurance products, growing PE capital influx, and accelerating technology adoption. Intermediaries also partner with providers to leverage their domain and technology expertise, partnership ecosystems, and advisory capabilities to improve their operations and customer experiences. In this report, we examine the global insurance intermediary Business Process Services (BPS) market. The report analyzes insurance intermediaries’ strategic and responsive investments, future strategic priorities, BPS adoption trends, deal value, and characteristics. It will assist insurance intermediaries, providers, and technology providers to understand the current intermediary BPS market. Scope Industry: insurance intermediary BPS services Geography: Global This report is based on Everest Group’s annual RFI process, interactions with leading insurance intermediary BPS providers and buyers, and our ongoing coverage of the insurance intermediary BPS market Contents In this report, we: Examine insurance intermediary BPS industry trends Assess buyer outsourcing priorities Membership(s) Insurance Business Process Sourcing and Vendor Management

In the post-pandemic era, insurance enterprises focused on modernizing their underwriting and claims functions, while making piecemeal investments in distribution channels. While insurers are now prioritizing realization of maximum value out of their existing investments, there is an increasing momentum of fresh investments in augmenting the distribution function. Given the uncertainty, insurance enterprises need to take a proactive approach to assess their risk portfolio and strategically explore newer risks to remain profitable. They also need to actively seek ways in which they can navigate through some of these overarching macro- and micro-challenges. In this report, we explore the insurance distribution landscape and answer critical questions from an IT services and technology perspective by identifying the challenges faced by stakeholders, beneficiaries of the changing dynamics in the current market, future possibilities, and the services and technology provider landscape. As the insurance industry undergoes transformation, insurers need to embrace upcoming risks and product constructs such as cyber insurance and parametric insurance. Given their niche expertise in terms of regional and Line of Business (LoB)-specific nuances, we see interest from both insurers and investors in exploring the MGA opportunity. A majority of the leading insurers have already formed MGA partnerships in a bid to expand their market reach, identify profitable risks, and offer consistent experiences to their customers. In this report, we also highlight the relevance of MGAs and the value creation potential offered by partnering with them. This can further support insurers in their bid to achieve increased cost savings, operational efficiency, and accuracy. It also holds potential to minimize errors associated with human-centric processes and accelerate premium growth by unlocking higher sales efficiencies and rapid product innovation. Scope Industry: Insurance Geography: Global Contents In this report, we examine: The insurance distribution landscape Critical questions from an IT services and technology perspective by identifying the challenges faced by stakeholders Beneficiaries of the changing dynamics in the current market Future possibilities and the services and technology provider landscape Membership(s) Insurance Information Technology Sourcing and Vendor Management

Amid dynamic shifts in the market, the insurance intermediary sector is transforming significantly. A prominent trend is emerging toward prioritizing digitization and embracing advanced technologies to drive change, particularly given the challenging economic landscape and ongoing market consolidation. Considering the emerging risks associated with climate change and cyber threats, intermediaries are expanding their role beyond traditional risk placement to become strategic advisors. They harness data-driven insights to offer proactive risk management solutions to insurance agents, brokers, and Managing General Agents (MGA)s. To navigate these evolving challenges and opportunities, the insurance intermediary sector is adapting by partnering with providers. This strategic move aims to streamline expenses, gain access to technical expertise, and leverage specialized talent. In response, providers are enhancing their digital capacities, partnering with InsurTech firms, and collaborating with intermediaries through a consultative methodology. This compendium provides accurate, comprehensive, and fact-based snapshots of 15 insurance intermediary Business Process Services (BPS) providers. Each profile offers a detailed overview of the provider’s services suite, scale of operations, recent developments and investments, technology solutions, and delivery locations. Scope Industry: insurance intermediary BPS services Geography: global In this report, we limit our scope to vertical-specific insurance intermediary operations and do not cover horizontal functions such as Finance and Accounting (F&A), HR, procurement, and contact centers Contents This report features 15 insurance intermediary service provider profiles and includes: Insurance intermediary BPS service suite and scale of operations: key leaders, services suite, FTEs, and recent developments and investments Insurance intermediary client portfolio: major clients and recently announced contracts, along with intermediary revenue split by geography and the intermediary type and FTE split by process and delivery location Global insurance intermediary delivery locations: details of key delivery locations worldwide Insurance intermediary technology solutions/tools: brief descriptions of key technology solutions Membership(s) Insurance Business Process Sourcing and Vendor Management

Amid evolving market dynamics, the insurance intermediary sector is transforming significantly. There is a noticeable shift toward prioritizing digitization and adopting advanced technologies to drive change, especially amid the challenging economic landscape and ongoing market consolidation. Additionally, with the emergence of risks associated with climate change and cyber threats, intermediaries are expanding their role beyond traditional risk placement to become strategic advisors. They leverage data-driven insights to offer proactive risk management solutions to clients. As the insurance intermediary segment adapts to this evolving landscape, there is a growing trend of forging partnerships with providers to optimize costs, access technical capabilities, and tap into talent expertise. Concurrently, providers are actively investing in digital capabilities, partnering with InsurTech companies, and enhancing collaboration with intermediaries through a consultative approach. In this report, we assess 15 insurance intermediary Business Process Services (BPS) providers and position them on Everest Group’s PEAK Matrix® framework as Leaders, Major Contenders, and Aspirants. Each profile offers a comprehensive picture of the provider’s vision, delivery capabilities, market success, and key strengths and limitations. The report also examines the global insurance intermediary services market and its provider landscape. The study will assist key stakeholders, such as insurance intermediaries, service providers, and technology providers, to understand the current state of the insurance intermediary BPS market. Scope Industry: insurance intermediary services Geography: global In this report, we only cover vertical-specific insurance intermediary operations and have omitted horizontal business processes, such as Finance and Accounting (F&A), HR, procurement, and contact centers Contents This report features 15 insurance intermediary service provider profiles and includes: Providers’ relative positioning on Everest Group’s PEAK Matrix® for insurance intermediary services Providers’ market impact Evaluation of providers’ vision and capabilities across key dimensions Membership(s) Insurance Business Process Outsourcing Excellence