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Life, Annuities, and Pension: Operation Transformation

Market Analysis

by Ashley Singleton

published on Oct 05, 2021

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Report Overview:

NelsonHall’s market analysis of the global life, annuities, and pension operation transformation services market consists of 61-pages. The report provides a provides a view of how vendors are evolving their offerings and capabilities to improve life, annuities, and pension operation transformation services.

Who is this Report for:

NelsonHall’s life, annuities, and pension operation transformation report is a comprehensive market assessment report designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of digital services and life, annuities, and pension operation transformation services and identifying vendor suitability for RFPs
  • Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
  • Financial analysts and investors specializing in the life, annuities, and pension operation transformation sector.

Scope of this Report:

The report analyzes the global life, annuities, and pension operation transformation services and addresses the following questions:

  • What is the market size and projected growth for the global life, annuities, and pension operation transformation services?
  • What is the profile of activity in the global life, annuities, and pension operation transformation services market?
  • What are the top drivers for adoption of global life, annuities, and pension operation transformation services?
  • What are the benefits currently achieved by users of global life, annuities, and pension operation transformation services?
  • What factors are inhibiting user adoption of global life, annuities, and pension operation transformation services?
  • Who are the leading life, annuities, and pension operation transformation services vendors globally?
  • What combination of services is typically provided within global life, annuities, and pension operation transformation services contracts and what new services are being added?
  • What is the current pattern of delivery location used for global life, annuities, and pension operation transformation services and how is this changing?
  • What are the challenges and success factors within global life, annuities, and pension operation transformation services?

Key Findings & Highlights:

NelsonHall’s market analysis of the global life, annuities, and pension operation transformation services market consists of 61-pages. The report provides a provides a view of how vendors are evolving their offerings and capabilities to improve life, annuities, and pension operation transformation services.

Global life, annuities, and pension operation transformation services are enabling clients to utilize AI-driven automation to improve digital customer engagement, increase rate of straight-through processing, and reduce operational costs. Carriers can implement a mix of proprietary digital solution offerings from vendors with integrated partner solutions to enable comprehensive transformation. Key user requirements include strong operational domain and process understanding with breadth of RPA and automation capability. 

Vendors are increasingly focused on touchless processing to bring efficiencies and increase volume handling, offerings in implementing automation within the underwriting process and APIs to the carrier’s agent web portals.

Key investment areas include a focus in AI-enabled automation and process redesign across all business functions, and digital personalization of member communication through AI and analytics. Vendors are increasing investment and partnerships in cloud infrastructure to provide lower cost solution implementations.

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Life, Annuities & Pension: Operational Transformation 2021

published 2021-11-17 | Project by Ashley Singleton

This NelsonHall Vendor Evaluation & Assessment Tool (NEAT) analyzes the performance of vendors offering life, annuities & pension services. The NEAT tool allows strategic sourcing managers to assess the capability of vendors across a range of criteria and business situations and identify the best performing vendors overall, and with specific capability in the areas of new business setup/underwriting, customer/distribution service administration, benefit & fund management, life claims administration, and operations transformation. Vendors evaluated for this NEAT are: Atos, DXC Technology, EXL, Infosys, Kane Solutions, SE2, TCS, and WNS Global Services. To find out more, contact Guy Saunders at [email protected]
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