Chicago — While still a sensitive topic for many carriers, core business process outsourcing (BPO) continues to thrive. In fact, the latest report from Boston-based Celent estimates that the core North American insurance BPO market (currently $1.9 billion in 2008) will grow to reach $4.1 billion by 2013.
According to the survey, “Business Process Outsourcing in North American Insurance,” the reasons for this are a combination of unrelenting pressure on expenses, vast improvements in networking and communication technology and an increased appreciation for highly flexible business models. As a result, these factors have compelled most carriers to explore non-traditional options for running their businesses.
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