Life and Pensions (L&P) Insurance BPS State of the Market Report 2021: Insurers’ Complex Journeys to Simplification
State of the Market Report

18 May 2021
by Somya Bhadola, Moulee Datta

COVID-19 significantly disrupted L&P insurers’ manual and paper-based operations and compelled them to transform their operations. With most businesses starting to return to normalcy in 2021, insurers are accelerating their digital transformation to improve operational resiliency, risk management, customer engagement, and financial strength. To achieve various strategic priorities under this call to action, many insurers are also increasingly turning to an outsourcing ecosystem to institute strategic relationships and co-create for innovation.

In this research, we provide a comprehensive picture of the key investment trends in the L&P insurance outsourcing market across various dimensions. The analysis is based on Everest Group’s annual RFI process, interactions with leading L&P insurance Business Process Service (BPS) providers, interactions with buyers, and our ongoing coverage of the L&P insurance and services market.


Industry: L&P insurance industry, including life insurance and retirement/pensions solutions offered to both individual and group customers

Geography: global

Services: L&P insurance BPS

Insurer investment examples: only publicly available information has been used to depict investment areas targeted by insurers


This report studies trends and discussion themes in the L&P insurance BPS industry under four sections:

  • The impact of COVID-19 on L&P insurance
  • Market adoption trends in L&P insurance BPS
  • Deal characteristics of L&P insurance BPS
  • L&P insurance BPS service provider landscape and client feedback analysis


Insurance Business Process

Sourcing and Vendor Management


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