London — Insurers in Europe and the United States are increasingly considering policy administration business process outsourcing (BPO), says a new report by London-based independent market analyst Datamonitor.
Facing challenging market conditions, both life and non-life insurers are seeking to reduce costs and gain flexibility. Often times, however, these goals are stymied by rigid policy administration platforms, which are frequently built in-house, Datamonitor’s report states.
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