insurance bpo service provider profile compendium 2014 · 3. insurance bpo service provider profile...
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Banking, Financial Services, and Insurance (BFSI) Outsourcing Market Report: March 2014 – Preview Deck
Topic: Insurance BPO Service Provider Profile Compendium 2014
Copyright © 2014, Everest Global, Inc. EGR-2014-11-PD-1088
Copyright © 2014, Everest Global, Inc. EGR-2014-11-PD-1088
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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 [email protected] European Headquarters Office: +44-207-129-1318 [email protected]
1 Banking, financial services, and insurance
Custom research capabilities Benchmarking | Pricing, delivery model, and skill portfolio Peer analysis | Scope, sourcing models, and locations Locations | Cost, skills, sustainability, and portfolio – plus a tracking tool Tracking services | Service providers, locations, and risk Other | Market intelligence, service provider capabilities, technologies, and 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
Tracks global services across functions, sourcing models, locations, and service providers – industry tracking reports also available
Copyright © 2014, Everest Global, Inc. EGR-2014-11-PD-1088
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Everest Group’s definition of BFSI includes the following three segments
1 Business-to-consumer relationships 2 Business-to-business relationships
Retail financial services (B2C1) – Retail banking – Lending – Cards
Commercial banking (B2B2)
Banking Investment banking
Asset management
Custody & fund
administration
Brokerage
Capital markets Life & Pension (L&P)
Property & Casualty (P&C)
Insurance
Banking, Financial Services, and Insurance (BFSI)
Focus of this report
Note: This report covers vertical-specific BPO within the insurance space. It does not include coverage of horizontal business processes such as F&A, HR, procurement, and contact centers
Copyright © 2014, Everest Global, Inc. EGR-2014-11-PD-1088
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Table of contents
Section I: Insurance BPO service provider landscape snapshot 5 Section II: Profiles of insurance BPO Leaders 12 CSC 13 EXL 18 TCS 23 WNS 28 Section III: Profiles of insurance BPO Major Contenders 33 Cognizant 34 Dell 39 Genpact 44 HCL 49 Infosys 54 Serco 60 Sutherland Global Services 65 Wipro 70 Section IV: Profiles of insurance BPO Emerging Players 75 iGATE 76 MphasiS 81 Syntel 86 Tech Mahindra 91
Appendix 96 Glossary of key terms 97 BFSI BPO research calendar 98 References 99
Topic Page no.
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ABC (page 1 of 5) Insurance BPO overview
Recent acquisitions and partnerships XX XX XX XX
Recent developments XX XX XX XX
Suite of services XX XX XX XX
2010 2011 2012
Revenue (US$ million) XX XX XX
Number of FTEs XX XX XX
Number of clients XX XX XX
Company overview XX XX Key leaders XX XX XX XX Headquarter: XX, XX Website: www.abc.com
Source: Everest Group (2014)
Copyright © 2014, Everest Global, Inc. EGR-2014-11-PD-1088
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ABC (page 2 of 5) Insurance BPO location landscape
Gurgaon
Kolkata Bangalore Chennai
Mumbai
Cincinnati
Santiago
Source: Everest Group (2014)
Copyright © 2014, Everest Global, Inc. EGR-2014-11-PD-1088
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ABC (page 3 of 5) Insurance BPO – capabilities and key clients
Key insurance engagements
Client name LoB Region Year since client
XX XX L&P Europe 2006
XX XX L&P North America 2007
XX XX P&C Europe 2009
XX XX L&P Europe 2011
Insurance BPO FTE mix by segment FTEs in numbers
Insurance BPO revenue mix by geography Revenue in US$ million
Split of FTEs by location FTEs in numbers
Insurance BPO number of contracts by buyer size Number of contracts
X% X%
X%
Asia Pacific
North America
Europe
Life & pension
Property & casualty
Offshore Onshore
Near shore
Large Small
Medium
100% = 100% = 100% = 100% =
Source: Everest Group (2014)
Copyright © 2014, Everest Global, Inc. EGR-2014-11-PD-1088
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Tools XX XX XX
Solution description
XX XX XX
Year launched XX XX XX
LoB Life & pension, property & casualty, and retirement
Life & pension Life & pension and property & casualty
Number of clients
XX XX XX
ABC (page 4 of 5) Insurance BPO technology solutions
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ABC is a Leader on Everest Group PEAK Matrix for insurance BPO
ABC (page 5 of 5) Competitive position and assessment
Market share by insurance BPO line of business
L&P P&C
XX% XX%
Overall market share
By active contracts By FTEs By revenue
XX% XX% XX% Delivery capability assessment
Assessment dimension Rating Remarks
Scale XX
Scope XX
Technology capability
XX
Delivery footprint XX
High Low
Overall remarks XX XX XX XX XX XX
Market share by region
North America Europe
South America Asia Pacific
Middle East & Africa
XX% XX% XX% XX% XX%
25th
per
cent
ile
High
Low
Insurance BPO delivery capability
(Scale, scope, technology, and delivery footprint)
25th percentile
75th percentile
Low High
75th
per
cent
ile
Mar
ket s
ucce
ss
(Insu
ranc
e B
PO
reve
nue
and
clie
nts)
Source: Everest Group (2014)
ABC
Copyright © 2014, Everest Global, Inc. EGR-2014-11-PD-1088
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BFSI BPO research calendar
Topic Published Current
Release date
Q3-2014 Banking BPO – Service Provider Profile Compendium 2014
Q2-2014 Banking BPO – Service Provider Landscape with PEAK Matrix Assessment 2014
Q2-2014 BFS BPO Annual Report
March-2014 Insurance BPO – Service Provider Profile Compendium
Q2-2014 Resurgence of the mortgage BPO market
February-2014 Capital markets BPO – Service Provider Profile Compendium
September-2013 Banking BPO – Service Provider Landscape with PEAK Matrix Assessment 2013
August-2013 Banking and Financial Services (BFS) BPO Annual Report 2013 – Small is the New Big!
December-2013 Banking BPO – Service Provider Profile Compendium 2013
December-2013 Capital Markets BPO – Service Provider Landscape with PEAK Matrix Assessment 2013
December-2013 Insurance BPO – Annual Report 2013: In an Increasingly Volatile World, Insurance is Finding New Takers
December-2013 Insurance BPO – Service Provider Landscape with PEAK Matrix Assessment 2013
Q3-2014 Capital Markets BPO – Service Provider Landscape with PEAK Matrix Assessment 2014
Q3-2014 Capital Markets BPO – Service Provider Profile Compendium 2014
Q3-2014 Insurance BPO – Annual Report 2014
Copyright © 2014, Everest Global, Inc. EGR-2014-11-PD-1088
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Additional BFSI BPO research references
The following documents are recommended for additional insight into 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); 2013. 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 helps 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: Manu Aggarwal, Senior Analyst: Vikas Menghwani, Senior Analyst: FS BPO Team:
Phone: +1-214-451-3110 Email: [email protected]
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