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The Insurance Business Process Outsourcing (BPO) market is forecasted to grow by USD 1.78 bn during 2023-2028, accelerating at a CAGR of 4.97% during the forecast period. The report on the insurance business process outsourcing (BPO) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing adoption of cloud-based services in insurance sector, increasing demand for cost-effective operations in insurance field, and improving customer satisfaction in insurance bpo market.
The insurance business process outsourcing (BPO) market is segmented as below:
By Application
- Life and pension
- Property
- casualty
By End-user
- Large enterprises
- Small
- medium enterprises
By Geographical Landscape
- North America
- Europe
- APAC
- Middle East and Africa
- South America
This study identifies the emerging digital technologies across areas such as AI, IoT, and robotics as one of the prime reasons driving the insurance business process outsourcing (BPO) market growth during the next few years. Also, growing investment in distributed infrastructure, virtual operations, and risk management systems and rising demand for blockchain technology in the insurance BPO sector will lead to sizable demand in the market.
The report on the insurance business process outsourcing (BPO) market covers the following areas:
- Insurance business process outsourcing (BPO) market sizing
- Insurance business process outsourcing (BPO) market forecast
- Insurance business process outsourcing (BPO) market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading insurance business process outsourcing (BPO) market vendors that include Accenture Plc, Capgemini Service SAS, Cogneesol BPO Pvt. Ltd., Cognizant Technology Solutions Corp., Dell Technologies Inc., DXC Technology Co., ExlService Holdings Inc., Genpact Ltd., HCL Technologies Ltd., Hinduja Global Solutions Ltd., Infosys Ltd., Invensis Technologies Pvt Ltd., Marco Capital, Mphasis Ltd., Rely Services, Solartis LLC, Tata Consultancy Services Ltd., Wipro Ltd., WNS Holdings Ltd., and Mahindra and Mahindra Ltd.. Also, the insurance business process outsourcing (BPO) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Table of Contents
Executive Summary
The publisher recognizes the following companies as the key players in the global insurance business process outsourcing (BPO) market: Accenture Plc, Capgemini Service SAS, Cogneesol BPO Pvt. Ltd., Cognizant Technology Solutions Corp., Dell Technologies Inc., DXC Technology Co., ExlService Holdings Inc., Genpact Ltd., HCL Technologies Ltd., Hinduja Global Solutions Ltd., Infosys Ltd., Invensis Technologies Pvt Ltd., Marco Capital, Mphasis Ltd., Rely Services, Solartis LLC, Tata Consultancy Services Ltd., Wipro Ltd., WNS Holdings Ltd., and Mahindra and Mahindra Ltd..Commenting on the report, an analyst from the research team said: 'The latest trend gaining momentum in the market is emerging digital technologies across areas such as ai, iot, and robotics.'
According to the report, one of the major drivers for this market is the growing adoption of cloud-based services in insurance sector.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Accenture Plc
- Capgemini Service SAS
- Cogneesol BPO Pvt. Ltd.
- Cognizant Technology Solutions Corp.
- Dell Technologies Inc.
- DXC Technology Co.
- ExlService Holdings Inc.
- Genpact Ltd.
- HCL Technologies Ltd.
- Hinduja Global Solutions Ltd.
- Infosys Ltd.
- Invensis Technologies Pvt Ltd.
- Marco Capital
- Mphasis Ltd.
- Rely Services
- Solartis LLC
- Tata Consultancy Services Ltd.
- Wipro Ltd.
- WNS Holdings Ltd.
- Mahindra and Mahindra Ltd.
