Property and Casualty Insurance BPO – Service Provider Landscape with PEAK Matrix™ Assessment 2015

3 Sep 2015
by Rajesh Ranjan



The global P&C insurance BPO market continues to grow with a maturing service provider landscape. It registered 12% growth by revenue, crossing US$900 million mark in 2014. The market is quite concentrated as North America and United Kingdom together account for more than 80% of the revenue. Further, the former leads the adoption, accounting for nearly half of the global revenue. Asia Pacific and Eastern Europe have also witnessed an increase in contractual activity.

The scope of contracts is expanding beyond transactional work to include more complex, judgment-intensive work such as analytics, risk management, actuarial, and regulatory reporting. Robotics Process Automation (RPA) and automation based on cognitive tools have expanded the extent of cost savings and efficiencies achievable with BPO, and are being increasingly accepted in the industry. Traditional pricing models, such as FTE-based and fixed-fee, are increasingly being replaced by outcome-based pricing models.

With increasing adoption, impact of technology, and evolving pricing models, P&C insurance BPO is expected to evolve rapidly in terms of scale, scope, and cost efficiency.

PEAK Matrix

Scope and Methodology

In this research, we analyze the global P&C insurance BPO service provider landscape. We focus on:

  • Relative positioning of 19 service providers on Everest Group’s PEAK Matrix for P&C insurance BPO
  • Service provider market success
  • Service provider capability assessment across key dimensions
  • Comments about service providers

Delivery Capability


This report examines the global P&C insurance BPO market and its service provider landscape. It provides detailed analysis of the capabilities and market performance of service providers and their relative position on the Everest Group PEAK Matrix. It will assist key stakeholders (insurance providers, service providers, and technology providers) understand the current state of the P&C insurance BPO service provider landscape.

  • 2015 P&C insurance BPO PEAK Matrix
    • Leaders: Cognizant, EXL, Genpact, WNS, and Xchanging
    • Major Contenders: Accenture, Capita, CSC, HCL, Infosys, Mphasis, Serco, Sutherland, TCS, and Xerox
    • Aspirants: HCCA HC, IGATE, Syntel, and Tech Mahindra
  • Top Quartile performers by market success account for nearly three-fourths of the P&C insurance BPO revenue and more than 65% of the client base
  • Top Quartile performers by scale have more focus on P&C insurance BPO, as compared to rest of the service providers, and have high potential for rapid ramp up
  • While most of the service providers have either North America- or United Kingdom-centric portfolio, Top Quartile performers have balanced share of revenue along with substantial market share across geographies
  • Technology and innovation dimension assesses the service providers on their capability to provide technology-enabled services and value-added services such as automation, analytics and regulatory reporting. Top Quartile performers are better positioned to serve the growing demand for technology and deliver value-addition through innovation
  • Offshoring in P&C insurance BPO is high as most of the processes outsourced are more transactional in nature
  • Improving efficiencies and scalability, leveraging better technology solutions, gaining specific expertise, improving agility, and focusing on core and value-added processes are the key drivers from a buyer perspective. Top Quartile performers by buyer satisfaction rate high on these parameters

Everest Group has a complimentary four-page PEAK Matrix preview document for this service provider landscape report.


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