Life and Pensions Insurance BPO – Service Provider Landscape with PEAK Matrix™ Assessment 2015

25 Sep 2015
by Rajesh Ranjan



The global L&P insurance BPO market continues to grow steadily with a maturing service provider landscape. It registered 5% growth in terms of revenue in 2014. The market is quite concentrated with United Kingdom and North America together accounting for more than 90% of the revenue. The former leads adoption and accounts for nearly two-thirds of the global revenue. Though Asia Pacific and Eastern Europe have witnessed an increase in contractual activity, adoption of L&P insurance BPO will take some time to become prominent in the overall global market. Two service providers, Capita and TCS1, continue to enjoy uncontested market share by revenue.

The scope of contracts is expanding beyond transactional work and inclusion of more complex & judgment-intensive work such as analytics, risk management, actuarial, and regulatory reporting is increasing. Robotics Process Automation (RPA) and automation based on cognitive tools have expanded the extent of cost savings and efficiency achievable with BPO and are receiving an increasing acceptance 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, L&P 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 L&P insurance BPO service provider landscape. We focus on:

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

Revenue by Region


This report examines the global L&P 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 L&P insurance BPO service provider landscape.

  • 2015 L&P insurance BPO PEAK Matrix
    • Leaders: Accenture, Cognizant, CSC, EXL, and TCS
    • Major Contenders: Capita, Dell, Genpact, HCL, IGATE, Infosys, Serco, Sutherland Global Services, WNS, and Xerox
    • Aspirants: Mphasis, NIIT Technologies, Syntel, and Tech Mahindra
  • Market shares of 19 service providers by
    • Revenue
    • Number of clients
    • Geography (signing region)
    • L&P insurance BPO and its sub-processes
    • Buyer size
  • Revenue growth for 19 service providers
  • Strengths and areas of improvement for 19 service providers

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


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