Insurance Business Process Outsourcing Market by Type, Enterprise Size, Application

List of Tables

The Insurance Business Process Outsourcing Market is projected to reach USD 82.29 billion by 2030 from USD 49.21 billion in 2022, at a CAGR of 6.63% during the forecast period.

Global Insurance Business Process Outsourcing Market

KEY MARKET STATISTICS
Base Year Value [2022]	USD 49.21 billion
Estimated Year Value [2023]	USD 52.74 billion
Forecast Year Value [2030]	USD 82.29 billion
CAGR (%)	6.63%

Insurance Business Process Outsourcing Market - IMG1

Market Segmentation & Coverage:

This research report analyzes various sub-markets, forecasts revenues, and examines emerging trends in each category to provide a comprehensive outlook on the Insurance Business Process Outsourcing Market.

Based on Type, market is studied across Administration, Asset Management, Claims Management, Marketing, and Operation. The Operation is projected to witness significant market share during forecast period.

Based on Enterprise Size, market is studied across Large Enterprises and Small & Medium Enterprises. The Small & Medium Enterprises is projected to witness significant market share during forecast period.

Based on Application, market is studied across Life & Pension and Property & Casualty. The Property & Casualty is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific is projected to witness significant market share during forecast period.

Market Statistics:

The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is an indispensable tool for assessing the Insurance Business Process Outsourcing Market. It comprehensively evaluates vendors, analyzing key metrics related to Business Strategy and Product Satisfaction. This enables users to make informed decisions tailored to their specific needs. Through advanced analysis, vendors are categorized into four distinct quadrants, each representing a different level of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V). Be assured that this insightful framework empowers decision-makers to navigate the market with confidence.

Market Share Analysis:

The Market Share Analysis offers invaluable insights into the vendor landscape Insurance Business Process Outsourcing Market. By evaluating their impact on overall revenue, customer base, and other key metrics, we provide companies with a comprehensive understanding of their performance and the competitive environment they confront. This analysis also uncovers the level of competition in terms of market share acquisition, fragmentation, dominance, and industry consolidation during the study period.

Key Company Profiles:

The report delves into recent significant developments in the Insurance Business Process Outsourcing Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Capgemini SE, Capita PLC, Cogneesol BPO Pvt. Ltd, Cognizant Technology Solutions Corporation, Dell Inc., DXC Technology Company, ExlService Holdings, Inc, Firstsource Solutions Limited, Flatworld Solutions Pvt. Ltd., Genpact Ltd, HCL Technologies Limited, ICCS, illumifin Corporation, Infosys Limited, Invensis Technologies Pvt Ltd, Oracle Corporation, Patra Corporation, Rely Services, Serco Group PLC, Solartis, Sutherland Global Services, Tata Consultancy Services, Wipro Limited, and WNS (Holdings) Ltd..

The report offers valuable insights on the following aspects:

1. Market Penetration: It provides comprehensive information about key players' market dynamics and offerings.

2. Market Development: In-depth analysis of emerging markets and penetration across mature market segments, highlighting lucrative opportunities.

3. Market Diversification: Detailed information about new product launches, untapped geographies, recent developments, and investments.

4. Competitive Assessment & Intelligence: Exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of leading players.

5. Product Development & Innovation: Intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast for the Insurance Business Process Outsourcing Market?

2. Which products, segments, applications, and areas hold the highest investment potential in the Insurance Business Process Outsourcing Market?

3. What is the competitive strategic window for identifying opportunities in the Insurance Business Process Outsourcing Market?

4. What are the latest technology trends and regulatory frameworks in the Insurance Business Process Outsourcing Market?

5. What is the market share of the leading vendors in the Insurance Business Process Outsourcing Market?

6. Which modes and strategic moves are suitable for entering the Insurance Business Process Outsourcing Market?

Product Code: MRR-DD0700E81D51

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Insurance Business Process Outsourcing Market, by Region

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rapidly expanding insurance industry worldwide
  - 5.1.1.2. Need for improved efficiency in larger and diversified insurance organizations
  - 5.1.1.3. Growing digitalization and inclination towards cloud-based solutions in insurance industry
- 5.1.2. Restraints
  - 5.1.2.1. Issues associated with integrating processes and lack of flexibility
- 5.1.3. Opportunities
  - 5.1.3.1. High potential of cutting edge technologies in insurance BPO services
  - 5.1.3.2. Rising spending and investments in developing IT infrastructure across economies
- 5.1.4. Challenges
  - 5.1.4.1. Concerns related to confidentiality and security of information
5.2. Market Segmentation Analysis
5.3. Market Trend Analysis
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework

6. Insurance Business Process Outsourcing Market, by Type

6.1. Introduction
6.2. Administration
6.3. Asset Management
6.4. Claims Management
6.5. Marketing
6.6. Operation

7. Insurance Business Process Outsourcing Market, by Enterprise Size

7.1. Introduction
7.2. Large Enterprises
7.3. Small & Medium Enterprises

8. Insurance Business Process Outsourcing Market, by Application

8.1. Introduction
8.2. Life & Pension
8.3. Property & Casualty

9. Americas Insurance Business Process Outsourcing Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Insurance Business Process Outsourcing Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Insurance Business Process Outsourcing Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. FPNV Positioning Matrix
12.2. Market Share Analysis, By Key Player
12.3. Competitive Scenario Analysis, By Key Player

13. Competitive Portfolio

13.1. Key Company Profiles
- 13.1.1. Accenture PLC
- 13.1.2. Capgemini SE
- 13.1.3. Capita PLC
- 13.1.4. Cogneesol BPO Pvt. Ltd
- 13.1.5. Cognizant Technology Solutions Corporation
- 13.1.6. Dell Inc.
- 13.1.7. DXC Technology Company
- 13.1.8. ExlService Holdings, Inc
- 13.1.9. Firstsource Solutions Limited
- 13.1.10. Flatworld Solutions Pvt. Ltd.
- 13.1.11. Genpact Ltd
- 13.1.12. HCL Technologies Limited
- 13.1.13. ICCS
- 13.1.14. illumifin Corporation
- 13.1.15. Infosys Limited
- 13.1.16. Invensis Technologies Pvt Ltd
- 13.1.17. Oracle Corporation
- 13.1.18. Patra Corporation
- 13.1.19. Rely Services
- 13.1.20. Serco Group PLC
- 13.1.21. Solartis
- 13.1.22. Sutherland Global Services
- 13.1.23. Tata Consultancy Services
- 13.1.24. Wipro Limited
- 13.1.25. WNS (Holdings) Ltd.
13.2. Key Product Portfolio

14. Appendix

14.1. Discussion Guide
14.2. License & Pricing