The global life insurance industry rebounded strongly from the pandemic in 2021. However, challenges such as a low-interest rate environment and cost pressures continue to impact life insurers’ bottom lines. A demanding macro environment and geopolitical risks are further compounding these challenges. Therefore, insurers are increasingly prioritizing operational efficiency by concentrating on core markets and businesses. They are also focusing on hyper-personalized customer experiences and multi-channel distribution capabilities due to changing customer preferences.
In this report, we provide a comprehensive analysis of the key investment trends in the Life & Annuities (L&A) insurance outsourcing market.
Scope
Industry: L&A insurance industry
Geography: global
Services: L&A insurance BPS
The research is based on Everest Group’s annual RFI process, interactions with leading L&A insurance Business Process Service (BPS) providers and buyers, and our ongoing coverage of the L&A insurance and services market
Contents
In this report, we examine:
Key investment trends in the L&A insurance industry
During the pandemic, many modernization initiatives were significantly accelerated as insurers realized the inadequacies in their core systems. Changes in customer preferences and insurers’ need to move quickly resulted in significant changes in sour…
