The adoption pattern across geographies and insurance segments is changing and so are the BPO solutions, notes a new report issued by Everest Group, a global services advisory firm. The research study, which analyzes the third-party insurance BPO market across the life & pensions (L&P) and property & casualty (P&C) segments, notes that this is reflected across multiple dimensions, such as scope of services, technology requirements, global sourcing, and pricing structures, among others.
The BPO industry, especially in insurance, has long been a mainstay within the banking, financial services, insurance (BFSI) market. According to Everest Group, the value proposition around managing growth and cost pressures, addressing changing consumer behavior needs, and effectively dealing with operational pain points increasingly drives insurance companies to adopt insurance BPO.
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