During the recession, enterprises increasingly turn to Property and Casualty (P&C) insurance Business Process Services (BPS) providers to address rising operational expenses resulting from increased inflation. This cost surge is attributed to heightened claims expenses and rate adjustments across various P&C products. Cost reduction emerges as the primary driver for outsourcing, accompanied by the pursuit of operational efficiency for improved business outcomes. Moreover, key enterprise leaders are experiencing notable delays in decision-making for transformative projects.

Nevertheless, P&C insurance BPS providers actively seek expansion opportunities by enhancing expertise in less commonly outsourced domains such as underwriting, actuarial analysis, and claims processing – areas significantly impacting enterprise expenses. These providers are also introducing transformative initiatives to unlock the full advantages of partnering with BPS providers, enabling efficiency improvements and cost reductions to sustain and enhance growth in a challenging business landscape.

The Property and Casualty (P&C) Insurance BPS – Provider Compendium 2023 provides accurate, comprehensive, and fact-based snapshots of 21 P&C insurance BPS providers. Each profile offers a comprehensive picture of the provider’s services suite, scale of operations, recent developments and investments, technology solutions, and delivery locations, and specifies the provider’s position on Everest Group’s PEAK Matrix® framework. The report also provides insights on the global P&C insurance BPS provider landscape.

Scope

• Industry: P&C insurance
• Geography: global

Contents

This report features 21 P&C service provider profiles and includes:

• P&C insurance services suite and scale of operations: key leaders, services suite, FTEs, and recent developments and investments
• P&C insurance client portfolio: major clients and recently announced contracts, P&C insurance revenue split by geography and buyer size, and FTE split by process and delivery location
• Global P&C insurance delivery locations: details of key delivery locations worldwide
• P&C insurance technology solutions: brief descriptions of key technology solutions
• Detailed assessment of P&C insurance capabilities: market success, delivery capability, and strengths and limitations

Membership(s)

Insurance Business Process

Sourcing and Vendor Management