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Topic: Insurance BPO – Service Provider Landscape
with PEAK MatrixTM Assessment 2013
BFSI BPO
Market Report: December 2013...
Copyright © 2012, Everest Global, Inc.
EGR-2013-11-PD-1032
2
Our research offerings for global services
Subscription infor...
Copyright © 2012, Everest Global, Inc.
EGR-2013-11-PD-1032
3
Background of the research
Insurance BPO is a US$2.3 billion ...
Copyright © 2012, Everest Global, Inc.
EGR-2013-11-PD-1032
4
Table of contents (page 1 of 2)
Background of the research 6
...
Copyright © 2012, Everest Global, Inc.
EGR-2013-11-PD-1032
5
Table of contents (page 2 of 2)
Section III: Emerging service...
Copyright © 2012, Everest Global, Inc.
EGR-2013-11-PD-1032
6
Overview and abbreviated summary of key messages
Some of the ...
Copyright © 2012, Everest Global, Inc.
EGR-2013-11-PD-1032
7
This study offers three distinct chapters providing a deep di...
Copyright © 2012, Everest Global, Inc.
EGR-2013-11-PD-1032
8
BFSI BPO research calendar
Topic
Published Current
June-2013A...
Copyright © 2012, Everest Global, Inc.
EGR-2013-11-PD-1032
9
Additional BFSI BPO research references
The following documen...
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Insurance BPO - Service Provider Landscape with PEAK Matrix Assessment 2013

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This report uses Everest Group’s proprietary PEAK Matrix to assess and rate service providers for insurance BPO on their market success and various dimensions of their delivery capabilities. It also discusses the key emerging trends in the insurance BPO

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Insurance BPO - Service Provider Landscape with PEAK Matrix Assessment 2013

  1. 1. Topic: Insurance BPO – Service Provider Landscape with PEAK MatrixTM Assessment 2013 BFSI BPO Market Report: December 2013 – Preview Deck Copyright © 2013, Everest Global, Inc. EGR-2013-11-PD-1032
  2. 2. Copyright © 2012, Everest Global, Inc. EGR-2013-11-PD-1032 2 Our research offerings for global services Subscription information  The full report is included in the following subscription(s) – BFSI BPO  In addition to published research, a subscription may include analyst inquiry, data cuts, and other services  If you want to learn whether your organization has a subscription agreement or request information on pricing and subscription options, please contact us: Corporate Headquarters Office: +1-214-451-3000 info@everestgrp.com European Headquarters Office: +44-207-129-1318 unitedkingdom@everestgrp.com 1 Banking, financial services, and insurance Custom research capabilities  Benchmarking | Pricing, delivery model, skill portfolio  Peer analysis | Scope, sourcing models, locations  Locations | Cost, skills, sustainability, portfolio – plus a tracking tool  Tracking services | Service providers, locations, risk  Other | Market intelligence, service provider capabilities, technologies, contract assessment Finance & accounting Procurement Human resources Recruitment process PricePointTM Global sourcing Locations InsiderTM Contact center Transaction Intelligence Healthcare information technology Information technology Cloud VistaTM BFSI1 business process BFSI1 information technology Market VistaTM Global services tracking across functions, sourcing models, locations, and service providers – industry tracking reports also available
  3. 3. Copyright © 2012, Everest Global, Inc. EGR-2013-11-PD-1032 3 Background of the research Insurance BPO is a US$2.3 billion market growing at a healthy 12 to 15% annually. While BPO activity across Life & Pensions (L&P) and Property & Casualty (P&C) segments continues to be high, commercial insurers and reinsurers are also looking at BPO to further increase efficiency and effectiveness of their operations. Beyond United Kingdom and United States., Asia Pacific and Rest of Europe are also witnessing high levels of activity. The scope of BPO relationships is also expanding beyond transactional activities into more complex judgment-intensive work such as actuarial, underwriting, and analytics. Service providers need to invest in a differentiated go-to-market strategy to succeed in a growing but increasingly competitive insurance BPO market. Arbitrage-based value proposition is table-stakes and investments in technology, analytics, and domain expertise are required. This report focuses on the service provider landscape of the global insurance BPO market. We analyze:  Relative positioning of 16 service providers on Everest Group PEAK Matrix for insurance BPO  Service provider market success  Service provider capability assessment across key dimensions  Emerging service provider trends  Implications for insurers and service providers
  4. 4. Copyright © 2012, Everest Global, Inc. EGR-2013-11-PD-1032 4 Table of contents (page 1 of 2) Background of the research 6 Executive summary 11  Summary of key messages 12  Implications for key stakeholders 15 Section I: Everest Group PEAK Matrix for insurance BPO 17  Summary 18  Insurance BPO PEAK Matrix 22  Assessment of service providers 23  Insurance BPO Star Performers 2013 25 Section II: Key insights on PEAK Matrix dimensions 26  Summary 27  Context 29  Market success 30  Scale 31  Scope 33  Technology 37  Delivery footprint 38 Topic Page no.
  5. 5. Copyright © 2012, Everest Global, Inc. EGR-2013-11-PD-1032 5 Table of contents (page 2 of 2) Section III: Emerging service provider trends 41  Summary 42  Newer buyer geographies 45  Complex processes 47  Commercial insurance 49  Domain expertise 51  Technology solutions 52 Appendix 55  Glossary of key terms 56  BFSI BPO research calendar 57  References 58 Topic Page no.
  6. 6. Copyright © 2012, Everest Global, Inc. EGR-2013-11-PD-1032 6 Overview and abbreviated summary of key messages Some of the findings in this report, among others, are:  Everest Group classifies 16 insurance BPO service providers on Everest Group Performance | Experience | Ability | Knowledge (PEAK) Matrix into the three categories of Leaders, Major Contenders, and Emerging Players  The 2013 insurance BPO PEAK Matrix positioning is as follows: – Leaders: CSC, EXL, TCS, and WNS – Major Contenders: Cognizant, Dell, Genpact, HCL, Infosys, Serco, Sutherland Global Services, and Wipro – Emerging Players: iGATE, MphasiS, Syntel, and Tech Mahindra – TCS and Cognizant emerged as the “Star Performers” since they demonstrated the strongest forward and upward movement year over year on the PEAK Matrix Everest Group PEAK Matrix for insurance BPO This report uses Everest Group’s proprietary PEAK Matrix to assess and rate service providers for insurance BPO on various dimensions of their capabilities. It also discusses key emerging trends in insurance BPO.  TCS has the largest market share by revenue, while EXL has the largest number of insurance BPO clients. CSC and WNS are the other two players that make up the top quartile by market success  Leaders hold a clear advantage over Major Contenders and Emerging Players in their scale of operations  EXL and TCS have the largest scale of insurance-specific BPO. The top quartile performers by scale typically sign larger contracts and recognize higher revenue per FTE than other service providers  Each insurance LoB and geography is dominated by different providers  All service providers assessed, have strong offshore capabilities through presence in India Key insights on service provider delivery capability  Around 65 to 70% insurance BPO contracts include one or more of the complex judgment-intensive services as compared to 20 to 25% five years ago  L&P and P&C insurance buyers have very difficult technological needs driven by the different nature of their industries and their products Emerging service provider trends
  7. 7. Copyright © 2012, Everest Global, Inc. EGR-2013-11-PD-1032 7 This study offers three distinct chapters providing a deep dive into key aspects of insurance BPO; below are four charts to illustrate the depth of the report Insurance BPO PEAK Matrix 2012 Delivery capability Scope Emerging trends Market share in L&P insurance BPO Percentage of FTEs XXX XXX XXX XXX Service Provider 1 Service Provider 2 Service Provider 4 Service Provider 3 3. BPO services for commercial insurance Insurance BPO service provider emerging trends 25thpercentile High Low Insurance BPO delivery capability (Scale, scope, technology, and delivery footprint) 25th percentile 75th percentile Low High 75thpercentile MarketSuccess (InsuranceBPOrevenueandclients) EXL WNS TCS CSC Genpact Infosys Wipro SercoDell Cognizant Tech Mahindra Sutherland Global Services HCL MphasiSSyntel iGATE Source: Everest Group (2013) Service provider Delivery capability Market successScale Scope Technology capability Delivery footprint Overall Service provider 1 Service provider 2 Service provider 3 Service provider 4 Service provider 5 Service provider 6 Service provider 7 Service provider 8 Service provider 9 Service provider 10 Service provider 11 Service provider 12 Leaders Major Contenders High Medium-high Emerging Players LowMedium 100% =
  8. 8. Copyright © 2012, Everest Global, Inc. EGR-2013-11-PD-1032 8 BFSI BPO research calendar Topic Published Current June-2013Analytics in Banking: War is Ninety Percent Information January-2013Insurance BPO Service Provider Profile Compendium Release date Q1-2014Insurance BPO – Service Provider Profile Compendium 2013 December-2013Insurance BPO – Service Provider Landscape with PEAK MatrixTM Assessment 2013 December-2013Insurance BPO – Annual Report 2013: In an Increasingly Volatile World, Insurance is Finding New Takers December-2013Capital Markets BPO – Service Provider Landscape with PEAK MatrixTM Assessment 2013 Q1-2014Capital Markets BPO – Service Provider Profile Compendium 2013 December-2013Banking BPO Service Provider Profile Compendium 2013 September-2013Banking BPO – Service Provider Landscape with PEAK MatrixTM Assessment 2013 August-2013Banking and Financial Services (BFS) BPO Annual Report 2013 – Small is the New Big! October-2013Global Location Insights: Sun Is Rising In the "Middle" East
  9. 9. Copyright © 2012, Everest Global, Inc. EGR-2013-11-PD-1032 9 Additional BFSI BPO research references The following documents are recommended for additional insight on the topic covered in this report. The recommended documents either provide additional details on the topic or complementary content that may be of interest: 1. Insurance BPO Annual Report 2013 – In an Increasingly Volatile World, Insurance is Finding New Takers (EGR-2013-11-R-1004); 2013. This report provides an overview of the insurance BPO market, including adoption trends across geographies and insurance segments, key solution characteristics, service provider landscape, and areas of service investments 2. A PEAK into the Leaders, Major Contenders, and Emerging Players of Insurance BPO (EGR-2012-11-R-0801); 2012. This report uses Everest Group's proprietary PEAK Matrix to assess and rate service providers for insurance BPO on their market success and various dimensions of their delivery capabilities. It also highlights the key emerging trends in the insurance BPO market and the key implications for buyers and service providers 3. Insurance BPO Service Provider Profile Compendium (EGR-2013-11-R-0812); 2012. This report provides accurate, comprehensive, and fact-based snapshots of 10 service providers in the market. Each five page service provider profile provides a comprehensive picture of that provider’s service suite, scale of operations, technology solutions, and delivery locations; along with Everest Group’s assessment of the provider 4. BFS BPO Annual Report 2013 – Small is the New Big! (EGR-2013-11-R-0912); 2013. This report assists key stakeholders (buyers, service providers, and technology providers) understand the changing dynamics of the BFS BPO market and help them identify the trends and outlook for 2013. In this backdrop, this report provides comprehensive coverage of the global BFS BPO market including detailed analysis of market size & growth, buyer adoption trends, banking and capital markets BPO solution characteristics, and service provider landscape For more information on this and other research published by Everest Group, please contact us: Saurabh Gupta, Vice President: Anupam Jain, Practice Director: Skand Bhargava, Senior Analyst: Manu Aggarwal, Senior Analyst: FS BPO Team: Phone: +1-214-451-3110 Email: info@everestgrp.com Everest Group Two Galleria Tower 13455 Noel Road, Suite 2100 Dallas, TX 75240 saurabh.gupta@everestgrp.com anupam.jain@everestgrp.com skand.bhargava@everestgrp.com manu.aggarwal@everestgrp.com FSBPOresearch@everestgrp.com
  10. 10. Blogs www.sherpasinblueshirts.com www.gainingaltitudeinthecloud.com Twitter @EverestGroup @Everest_Cloud Stay connected Websites www.everestgrp.com research.everestgrp.com Dallas (Headquarters) info@everestgrp.com +1-214-451-3000 New York info@everestgrp.com +1-646-805-4000 Toronto canada@everestgrp.com +1-647-557-3475 London unitedkingdom@everestgrp.com +44-207-129-1318 Delhi india@everestgrp.com +91-124-284-1000 At a glance  With a fact-based approach driving outcomes, Everest Group counsels organizations with complex challenges related to the use and delivery of the next generation of global services  Through its practical consulting, original research, and industry resource services, Everest Group helps clients maximize value from delivery strategies, talent and sourcing models, technologies, and management approaches  Established in 1991, Everest Group serves users of global services, providers of services, country organizations, and private equity firms in six continents across all industry categories

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