The global insurance business process outsourcing (BPO) market is expected to grow at a CAGR of 8.2% during the forecast period, from 2021 to 2030. The growth of this market is attributed to the increasing demand for cost-effective and efficient services in the insurance industry. The BPO market has been witnessing a shift from traditional operations towards digitalization, which has led to an increase in demand for BPO services.
The global insurance business process outsourcing (BPO) market by type includes marketing, administration, asset management, claims management and others. The marketing segment accounted for the largest share of this market in 2018 and is expected to continue its dominance throughout the forecast period due to its high adoption rate among insurers as well as customers across various industries such as banking & financial services, manufacturing and retail sectors.
Some Of The Growth Factors Of This Market:
- The BPO market is expected to reach $8,000 million by 2021.
- The BPO market is driven by the need for cost reduction and increased efficiency in the insurance industry.
- Insurance companies are outsourcing their processes to reduce costs and increase efficiency.
- Outsourcing allows insurance companies to focus on their core competencies.
Industry Growth Insights published a new data on “Insurance Business Process Outsourcing (BPO) Market”. The research report is titled “Insurance Business Process Outsourcing (BPO) Market research by Types (By Operation, Marketing, Administration, Asset Management, Claims Management, By Insurance, Property and Casualty, Life and Pension, Insurance Business Process Outsourcing (BPO), By Applications (BFSI, Manufacturing, Healthcare, Retail, Telecom, Others), By Players/Companies Genpact, EXL Services Holdings, Cognizant, Xchanging (DXC Technology), Dell, TCS, Sutherland Global Services, WNS Holdings, Accenture, Tech Mahindra, Xerox, MphasiS, Capita, Serco Group, Computer Sciences, HCL, IGate, Infosys, Syntel, Exlservice Holdings, Invensis, Wipro, Insurance Business Process Outsourcing (BPO”.
Scope Of The Report
Report Attributes
Report Details
Report Title
Insurance Business Process Outsourcing (BPO) Market Research Report
By Type
By Operation, Marketing, Administration, Asset Management, Claims Management, By Insurance, Property and Casualty, Life and Pension, Insurance Business Process Outsourcing (BPO
By Application
BFSI, Manufacturing, Healthcare, Retail, Telecom, Others
By Companies
Genpact, EXL Services Holdings, Cognizant, Xchanging (DXC Technology), Dell, TCS, Sutherland Global Services, WNS Holdings, Accenture, Tech Mahindra, Xerox, MphasiS, Capita, Serco Group, Computer Sciences, HCL, IGate, Infosys, Syntel, Exlservice Holdings, Invensis, Wipro, Insurance Business Process Outsourcing (BPO
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
247
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
 Industry Outlook.svg)
Global Insurance Business Process Outsourcing (BPO) Market Report Segments:
The global Insurance Business Process Outsourcing (BPO) market is segmented on the basis of:
Types
By Operation, Marketing, Administration, Asset Management, Claims Management, By Insurance, Property and Casualty, Life and Pension, Insurance Business Process Outsourcing (BPO
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
BFSI, Manufacturing, Healthcare, Retail, Telecom, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Genpact
- EXL Services Holdings
- Cognizant
- Xchanging (DXC Technology)
- Dell
- TCS
- Sutherland Global Services
- WNS Holdings
- Accenture
- Tech Mahindra
- Xerox
- MphasiS
- Capita
- Serco Group
- Computer Sciences
- HCL
- IGate
- Infosys
- Syntel
- Exlservice Holdings
- Invensis
- Wipro
- Insurance Business Process Outsourcing (BPO
 Market Overview.svg)
Highlights of The Insurance Business Process Outsourcing (BPO) Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- By Operation
- Marketing
- Administration
- Asset Management
- Claims Management
- By Insurance
- Property and Casualty
- Life and Pension
- Insurance Business Process Outsourcing (BPO
- By Application:
- BFSI
- Manufacturing
- Healthcare
- Retail
- Telecom
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Insurance Business Process Outsourcing (BPO) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
- Market Entry Strategies
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- Understanding Competition Scenario
- Product & Brand Management
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 Market Statistics.svg)
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Insurance BPO is a process outsourcing model that helps insurance companies manage their customer service and claims processes. Insurance companies outsource these processes to third-party providers who help them handle customer inquiries, claims processing, and other administrative tasks.
Some of the key players operating in the insurance business process outsourcing (bpo) market are Genpact, EXL Services Holdings, Cognizant, Xchanging (DXC Technology), Dell, TCS, Sutherland Global Services, WNS Holdings, Accenture, Tech Mahindra, Xerox, MphasiS, Capita, Serco Group, Computer Sciences, HCL, IGate, Infosys, Syntel, Exlservice Holdings, Invensis, Wipro, Insurance Business Process Outsourcing (BPO.
The insurance business process outsourcing (bpo) market is expected to register a CAGR of 8.2%.
1 Executive Summary2 Assumptions and Acronyms Used
3 Research Methodology
4 Insurance Business Process Outsourcing (BPO) Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.2 Macro-Economic Factors
4.2.1 Industry Outlook
4.3 Insurance Business Process Outsourcing (BPO) Market Dynamics
4.3.1 Market Drivers
4.3.2 Market Restraints
4.3.3 Opportunity
4.3.4 Market Trends
4.4 Insurance Business Process Outsourcing (BPO) Market - Supply Chain
4.5 Global Insurance Business Process Outsourcing (BPO) Market Forecast
4.5.1 Insurance Business Process Outsourcing (BPO) Market Size (US$ Mn) and Y-o-Y Growth
4.5.2 Insurance Business Process Outsourcing (BPO) Market Absolute $ Opportunity
5 Global Insurance Business Process Outsourcing (BPO) Market Analysis and Forecast by Operation
5.1 Market Trends
5.2 Introduction
5.2.1 Basis Point Share (BPS) Analysis by Operation
5.2.2 Y-o-Y Growth Projections by Operation
5.3 Insurance Business Process Outsourcing (BPO) Market Size Forecast by Operation
5.3.1 Marketing
5.3.2 Administration
5.3.3 Asset Management
5.3.4 Claims Management
5.4 Absolute $ Opportunity Assessment by Operation
5.4.1 Market Attractiveness/Growth Potential Analysis by Operation
6 Global Insurance Business Process Outsourcing (BPO) Market Analysis and Forecast by Insurance
6.1 Market Trends
6.2 Introduction
6.2.1 Basis Point Share (BPS) Analysis by Insurance
6.2.2 Y-o-Y Growth Projections by Insurance
6.3 Insurance Business Process Outsourcing (BPO) Market Size Forecast by Insurance
6.3.1 Property and Casualty
6.3.2 Life and Pension
6.4 Absolute $ Opportunity Assessment by Insurance
6.5 Market Attractiveness/Growth Potential Analysis by Insurance
7 Global Insurance Business Process Outsourcing (BPO) Market Analysis and Forecast by Application
7.1 Market Trends
7.2 Introduction
7.2.1 Basis Point Share (BPS) Analysis by Application
7.2.2 Y-o-Y Growth Projections by Application
7.3 Insurance Business Process Outsourcing (BPO) Market Size Forecast by Application
7.3.1 BFSI
7.3.2 Manufacturing
7.3.3 Healthcare
7.3.4 Retail
7.3.5 Telecom
7.3.6 Others
7.4 Absolute $ Opportunity Assessment by Application
7.5 Market Attractiveness/Growth Potential Analysis by Application
8 Global Insurance Business Process Outsourcing (BPO) Market Analysis and Forecast by Region
8.1 Market Trends
8.2 Introduction
8.2.1 Basis Point Share (BPS) Analysis by Region
8.2.2 Y-o-Y Growth Projections by Region
8.3 Insurance Business Process Outsourcing (BPO) Market Size Forecast by Region
8.3.1 North America
8.3.2 Europe
8.3.3 Asia Pacific
8.3.4 Latin America
8.3.5 Middle East and Africa (MEA)
8.4 Absolute $ Opportunity Assessment by Region
8.5 Market Attractiveness/Growth Potential Analysis by Region
9 Coronavirus Disease (COVID-19) Impact
9.1 Introduction
9.2 Market Trends
9.3 Patient Data
9.3.1 North America
9.3.2 Europe
9.3.3 Asia Pacific
9.3.4 Latin America
9.3.5 Middle East and Africa (MEA)
9.4 Current Impact Analysis
9.5 Future Impact Analysis
9.6 Economic Impact Analysis
9.7 Government Policies
9.8 Investment Scenario
10 North America Insurance Business Process Outsourcing (BPO) Market Analysis and Forecast
10.1 Introduction
10.1.1 Basis Point Share (BPS) Analysis by Country
10.1.2 Y-o-Y Growth Projections by Country
10.2 North America Insurance Business Process Outsourcing (BPO) Market Size Forecast by Country
10.2.1 U.S.
10.2.2 Canada
10.3 Absolute $ Opportunity Assessment by Country
10.4 North America Insurance Business Process Outsourcing (BPO) Market Size Forecast by Operation
10.4.1 Marketing
10.4.2 Administration
10.4.3 Asset Management
10.4.4 Claims Management
10.5 Basis Point Share (BPS) Analysis by Operation
10.6 Y-o-Y Growth Projections by Operation
10.7 North America Insurance Business Process Outsourcing (BPO) Market Size Forecast by Insurance
10.7.1 Property and Casualty
10.7.2 Life and Pension
10.8 Basis Point Share (BPS) Analysis by Insurance
10.9 Y-o-Y Growth Projections by Insurance
10.10 North America Insurance Business Process Outsourcing (BPO) Market Size Forecast by Application
10.10.1 BFSI
10.10.2 Manufacturing
10.10.3 Healthcare
10.10.4 Retail
10.10.5 Telecom
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis by Application
10.12 Y-o-Y Growth Projections by Application
10.13 Market Attractiveness/Growth Potential Analysis
10.13.1 By Country
10.13.2 By Operation
10.13.3 By Insurance
10.13.4 By Application
11 Europe Insurance Business Process Outsourcing (BPO) Market Analysis and Forecast
11.1 Introduction
11.1.1 Basis Point Share (BPS) Analysis by Country
11.1.2 Y-o-Y Growth Projections by Country
11.2 Europe Insurance Business Process Outsourcing (BPO) Market Size Forecast by Country
11.2.1 Germany
11.2.2 France
11.2.3 Italy
11.2.4 U.K.
11.2.5 Spain
11.2.6 Russia
11.2.7 Rest of Europe
11.3 Absolute $ Opportunity Assessment by Country
11.4 Europe Insurance Business Process Outsourcing (BPO) Market Size Forecast by Operation
11.4.1 Marketing
11.4.2 Administration
11.4.3 Asset Management
11.4.4 Claims Management
11.5 Basis Point Share (BPS) Analysis by Operation
11.6 Y-o-Y Growth Projections by Operation
11.7 Europe Insurance Business Process Outsourcing (BPO) Market Size Forecast by Insurance
11.7.1 Property and Casualty
11.7.2 Life and Pension
11.8 Basis Point Share (BPS) Analysis by Insurance
11.9 Y-o-Y Growth Projections by Insurance
11.10 Europe Insurance Business Process Outsourcing (BPO) Market Size Forecast by Application
11.10.1 BFSI
11.10.2 Manufacturing
11.10.3 Healthcare
11.10.4 Retail
11.10.5 Telecom
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis by Application
11.12 Y-o-Y Growth Projections by Application
11.13 Market Attractiveness/Growth Potential Analysis
11.13.1 By Country
11.13.2 By Operation
11.13.3 By Insurance
11.13.4 By Application
12 Asia Pacific Insurance Business Process Outsourcing (BPO) Market Analysis and Forecast
12.1 Introduction
12.1.1 Basis Point Share (BPS) Analysis by Country
12.1.2 Y-o-Y Growth Projections by Country
12.2 Asia Pacific Insurance Business Process Outsourcing (BPO) Market Size Forecast by Country
12.2.1 China
12.2.2 Japan
12.2.3 South Korea
12.2.4 India
12.2.5 Australia
12.2.6 Rest of Asia Pacific (APAC)
12.3 Absolute $ Opportunity Assessment by Country
12.4 Asia Pacific Insurance Business Process Outsourcing (BPO) Market Size Forecast by Operation
12.4.1 Marketing
12.4.2 Administration
12.4.3 Asset Management
12.4.4 Claims Management
12.5 Basis Point Share (BPS) Analysis by Operation
12.6 Y-o-Y Growth Projections by Operation
12.7 Asia Pacific Insurance Business Process Outsourcing (BPO) Market Size Forecast by Insurance
12.7.1 Property and Casualty
12.7.2 Life and Pension
12.8 Basis Point Share (BPS) Analysis by Insurance
12.9 Y-o-Y Growth Projections by Insurance
12.10 Asia Pacific Insurance Business Process Outsourcing (BPO) Market Size Forecast by Application
12.10.1 BFSI
12.10.2 Manufacturing
12.10.3 Healthcare
12.10.4 Retail
12.10.5 Telecom
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis by Application
12.12 Y-o-Y Growth Projections by Application
12.13 Market Attractiveness/Growth Potential Analysis
12.13.1 By Country
12.13.2 By Operation
12.13.3 By Insurance
12.13.4 By Application
13 Latin America Insurance Business Process Outsourcing (BPO) Market Analysis and Forecast
13.1 Introduction
13.1.1 Basis Point Share (BPS) Analysis by Country
13.1.2 Y-o-Y Growth Projections by Country
13.2 Latin America Insurance Business Process Outsourcing (BPO) Market Size Forecast by Country
13.2.1 Brazil
13.2.2 Mexico
13.2.3 Rest of Latin America
13.3 Absolute $ Opportunity Assessment by Country
13.4 Latin America Insurance Business Process Outsourcing (BPO) Market Size Forecast by Operation
13.4.1 Marketing
13.4.2 Administration
13.4.3 Asset Management
13.4.4 Claims Management
13.5 Basis Point Share (BPS) Analysis by Operation
13.6 Y-o-Y Growth Projections by Operation
13.7 Latin America Insurance Business Process Outsourcing (BPO) Market Size Forecast by Insurance
13.7.1 Property and Casualty
13.7.2 Life and Pension
13.8 Basis Point Share (BPS) Analysis by Insurance
13.9 Y-o-Y Growth Projections by Insurance
13.10 Latin America Insurance Business Process Outsourcing (BPO) Market Size Forecast by Application
13.10.1 BFSI
13.10.2 Manufacturing
13.10.3 Healthcare
13.10.4 Retail
13.10.5 Telecom
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis by Application
13.12 Y-o-Y Growth Projections by Application
13.13 Market Attractiveness/Growth Potential Analysis
13.13.1 By Country
13.13.2 By Operation
13.13.3 By Insurance
13.13.4 By Application
14 Middle East & Africa Insurance Business Process Outsourcing (BPO) Market Analysis and Forecast
14.1 Introduction
14.1.1 Basis Point Share (BPS) Analysis by Country
14.1.2 Y-o-Y Growth Projections by Country
14.2 MEA Insurance Business Process Outsourcing (BPO) Market Size Forecast by Country
14.2.1 Saudi Arabia
14.2.2 South Africa
14.2.3 UAE
14.2.4 Rest of MEA
14.3 Absolute $ Opportunity Assessment by Country
14.4 MEA Insurance Business Process Outsourcing (BPO) Market Size Forecast by Operation
14.4.1 Marketing
14.4.2 Administration
14.4.3 Asset Management
14.4.4 Claims Management
14.5 Basis Point Share (BPS) Analysis by Operation
14.6 Y-o-Y Growth Projections by Operation
14.7 MEA Insurance Business Process Outsourcing (BPO) Market Size Forecast by Insurance
14.7.1 Property and Casualty
14.7.2 Life and Pension
14.8 Basis Point Share (BPS) Analysis by Insurance
14.9 Y-o-Y Growth Projections by Insurance
14.10 MEA Insurance Business Process Outsourcing (BPO) Market Size Forecast by Application
14.10.1 BFSI
14.10.2 Manufacturing
14.10.3 Healthcare
14.10.4 Retail
14.10.5 Telecom
14.10.6 Others
14.11 Basis Point Share (BPS) Analysis by Application
14.12 Y-o-Y Growth Projections by Application
14.13 Market Attractiveness/Growth Potential Analysis
14.13.1 By Country
14.13.2 By Operation
14.13.3 By Insurance
14.13.4 By Application
15 Competition Landscape
15.1 Global Insurance Business Process Outsourcing (BPO) Market: Market Share Analysis
15.2 Insurance Business Process Outsourcing (BPO) Distributors and Customers
15.3 Insurance Business Process Outsourcing (BPO) Market: Competitive Dashboard
15.4 Company Profiles (Details – Overview, Financials, Developments, Strategy)
15.4.1 EXL Services Holdings
15.4.2 Genpact
15.4.3 TCS
15.4.4 WNS Holdings
15.4.5 Cognizant
15.4.6 DXC Technology
15.4.7 Dell
15.4.8 Sutherland Global Services
15.4.9 Accenture
15.4.10 Tech Mahindra
15.4.11 Xerox
15.4.12 Mphasis
15.4.13 Capita
15.4.14 Serco Group
