Emergen Research has recently published a detailed report on the global Life and Pensions Business Processing Outsourcing market formulated through extensive primary and secondary research. The report offers in-depth knowledge and analysis of the Life and Pensions Business Processing Outsourcing market through verified and validated data curated to offer accurate insights.
It also sheds light on the effect of the financial difficulties and supply disruption caused by the pandemic in the overall growth of the market. Furthermore, the report covers a current and future impact assessment of the pandemic on the overall growth of the Life and Pensions Business Processing Outsourcing market.
The global life and pensions Business Process Outsourcing (BPO) market size is expected to reach USD 6,216.2 Million at a revenue CAGR of 9.1% in 2028, according to latest analysis by Emergen Research. Steady global life and pensions Business Process Outsourcing (BPO) market revenue growth can be attributed to rising focus on reducing insurance administration costs and improving operational processes. Life and pension insurance companies benefit from outsourcing highly transactional processes, including new business processing, claims payments administration, and underwriting support. Insurance companies can derive substantial added value by taking advantage of BPO for various other processes. For instance, outsourcing actuarial support analytics is highly beneficial for optimizing pricing and precise premium calculations, which aids life and pension insurance firms to target more consumers on basis of risk profiles and demographics. BPO providers such as TCS, DXC Technology, NTT Data Corporation, and SE2 – decades of domain experience – are capable of providing support for cross-selling and up-selling initiatives, ensuring customer retention, exploiting new sales and distribution channels, and entry into new geographies.
The report is updated with the impact of the COVID-19 pandemic on the Life and Pensions Business Processing Outsourcing market. Every industry vertical across the globe has been affected by the pandemic, and the report assesses if the impact of the pandemic on the Life and Pensions Business Processing Outsourcing market has been positive or negative.
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The report further divides the Life and Pensions Business Processing Outsourcing market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the Life and Pensions Business Processing Outsourcing market.
Life and Pensions Business Processing Outsourcing Market Segmentation:
Type Outlook (Revenue, USD Million; 2018–2028)
- Life Insurance
- Annuities Pensions
- Others
Services Outlook (Revenue, USD Million; 2018–2028)
- Policy Servicing and Claims Administration
- Underwriting
- Document Management
- Actuarial Support
- Billing Accounts Receivable
- Regulatory Reporting
- Asset Management
- Change Management Services
- New Business Support
- Robotic Process Automation (RPA)
- Analytics Insights
- Others
Segment33
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The report also studies the key companies of the Life and Pensions Business Processing Outsourcing market along with analysis of their business strategies, MA activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities. Some players analyzed in the report are:
Key companies operating in the Life and Pensions Business Processing Outsourcing market include:
Tata Consultancy Services, DXC Technology, SE2, Cognizant, EXL Service, Concentrix, NTT Data Corporation, Capgemini, Accenture, and Capita
The Global Life and Pensions Business Processing Outsourcing Report is a panoramic study of the overall Life and Pensions Business Processing Outsourcing market published by Emergen Research and covers a wide-ranging analysis of the technological advancements and product developments in the Life and Pensions Business Processing Outsourcing market. The report provides a detailed analysis of the key factors of the Life and Pensions Business Processing Outsourcing market that are expected to have a positive impact on the growth of the Life and Pensions Business Processing Outsourcing industry.
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Regional Segmentation
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report further examines the market in the key regions of the world with regard to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of prominent players in the regions. The report also covers the expansion plans undertaken by companies in the regions under the regional analysis section.
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