Vendor Analysis
published on Jan 13, 2020
Report Overview:
This NelsonHall vendor assessment analyzes Sutherland's offerings and capabilities in transforming Property & Casualty BPS with touchless processing
Who is this Report for:
NelsonHall’s comprehensive assessment of Sutherland Global Services’ (Sutherland) property and casualty (P&C) business process service (BPS) offerings and capabilities is designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for Digital Banking Services RFPs
- Vendor marketing, sales and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the support services sector.
Scope of this Report:
The report comprehensively analyzes the company’s P&C BPS practice:
- Strategy, emphases, and new developments
- Strengths, weaknesses and outlook
- Target market
- Offerings and associated technology capabilities
- Delivery organization, including locations and partnerships
- Breakouts of P&C BPS specific revenue and delivery resources.
Key Findings & Highlights:
Sutherland serves P&C BPS clients in PL, CL, and in the Lloyd's of London markets. Sutherland's deepest P&C BPS competency continues to be support for front-office functions; the company's licensed agents serve multiple carriers. In the U.S., many of Sutherland's licensed agents operate out of a CoE in Chesapeake, MD. Other licensed agents are located in India. These agents enable carrier clients to use Sutherland as a direct channel to brokers and/or customers. In addition, Sutherland has recently begun offering P&C actuarial services (with personnel based in India).
Sutherland's foremost strategy is to serve clients as a sales channel that enables client carriers to expand quickly into new markets by leveraging:
- Licensed P&C agents based in Sutherland's CoEs
- Digital front-office IT capabilities that Sutherland has been developing for the last five years. These digital capabilities include RPA, Analytics AI, UX/CX Design Labs in the U.S. and U.K., and in Sutherland's CloudLABS in San Francisco (CA).
NelsonHall estimates that Sutherland's CY 2019 P&C BPS revenues were $35m.
Sutherland serves P&C BPS clients in PL, CL, and in the Lloyd's of London markets. Sutherland reports that it provides support for:
- 3 million P&C customers, producers and other intermediaries (including management of 4.4 million calls annually)
- Lloyd's Syndicate clients, with 18,000 bordereaux processed annually
- Approximately $400M in GWP on behalf of P&C carriers.
Sutherland began its work in P&C BPS supporting front-office functions and this remains its deepest competency. Multiple carriers use Sutherland's licensed agents as a direct channel to brokers and/or customers.
NelsonHall estimates that Sutherland’s P&C BPS business is supported by 750 FTEs.
Sutherland currently serves several of the top 25 P&C carriers and numerous mid-tier carriers, primarily in the U.S. and in the Lloyd's of London market. Sutherland is looking to expand opportunistically in the APAC region.