The global L&P insurance BPO market registered nearly 8% CAGR over the last few years to reach ~US$1.9 billion. The segment witnessed a consistent number of new contract signing. Over the next two years, growth is expected to be driven by increasing adoption within the small-sized buyer segments and higher inclusion of judgment-intensive processes.
While political certainties will drive new contract signings in the coming years, increasing expectations of buyers, driven by challenges faced and evolving consumer behavior will enhance scope of service providers’ offerings. Digitalization, analytics, RPA, and TPA capabilities are expected to be key the differentiators.
This report provides comprehensive coverage of the global L&P insurance BPO market, including adoption trends across geographies and buyer size, factors impacting the market, key solution characteristics, emerging trends, and service provider landscape. It will assist key stakeholders (L&P insurers, service providers, TPAs, and technology providers) to understand the changing dynamics of the L&P insurance BPO market and identify the upcoming trends. Some of the findings in this report are:
Banking, Financial Services & Insurance (BFSI) - Business Process Outsourcing (BPO)