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Business Process Services in the Commercial Property & Casualty Insurance Sector: 2017

Market Analysis

by John Willmott

published on Dec 21, 2017

Access to this report is restricted to logged in clients with access. Login to get full access

Report Overview:

NelsonHall’s “Business Process Services in the Commercial P&C Insurance Sector: 2017” 70-page report is based on global interviewing of senior executives across the commercial property & casualty insurance sector in four geographies: U.S., U.K., Continental Europe, and Asia Pacific.

In particular, the report analyzes the principal business issues faced by commercial P&C insurers, the operational transformation initiatives planned in response to these issues, and the use of automation in support of their transformational initiatives.

It then addresses the impact of automation and digitalization on their use of BPO and the extent to which automation complements and creates new opportunities within BPO itself.

Who is this Report for:

NelsonHall’s “Business Process Services in the Commercial Property & Casualty Insurance Sector: 2017” report is a comprehensive market assessment report designed for:

  • Sourcing managers investigating sourcing developments within the commercial P&C insurance sector
  • Vendor marketing, sales and business managers developing strategies to target business process services (BPS) opportunities within the commercial P&C insurance sector
  • Financial analysts and investors specializing in the IT services and BPS sector.

Scope of this Report:

The report is based on interviews with executives in the commercial P&C insurance sector in the U.S., U.K., Continental Europe, and Asia Pacific.

The report analyzes the worldwide market for business process services (BPS or BPO) within the commercial P&C insurance sector and addresses the following questions:

  • What are the principal business issues faced by organizations in the commercial P&C insurance sector?
  • What operational initiatives are planned by organizations in the commercial P&C insurance sector?
  • What specific operational initiatives are planned in support of cost reduction and revenue generation?
  • Which processes are the targets of process transformation initiatives and what are the planned initiatives by process?
  • How important are automation and BPS as approaches to process transformation?
  • What is the expected level of impact of political factors on the sourcing and shoring of commercial P&C insurers?
  • What approaches to automation do commercial P&C insurers expect to take over the next 12-months?
  • What impact will automation & digitalization have on white-collar staffing both internally and within supplier organizations?
  • To what extent is automation & digitalization creating additional opportunity for BPS vendors?
  • To what extent will commercial P&C insurers increase their use of BPS by process area?

Key Findings & Highlights:

Commercial P&C companies expect accelerating rates of market change with more than three-quarters of the organizations in the commercial property & casualty sector expecting a high to very high rate of industry change over the next 12-months. This expectation is particularly strong in the mature markets of the U.S. and the U.K. With a smaller legacy baggage, players in the Asian market expect marginally lower rates of change.

The shape, form, and pace of market changes in the insurance sector make operational transformation critical. The twin challenges of staying fit for current operations whilst architecting the organization fit for purpose for the future are substantive.

The sector’s response to these challenges is primarily three-fold:

  • Driving end-to-end digitalization to enhance their customer experience and offer digital insurance products as well as to increase the level of automation of their back-office operations
  • A widespread approach to process transformation
  • Combining BPS and automation to achieve operational transformation.

Each of these individually and collectively is creating new opportunities for BPS suppliers while concurrently cannibalizing their legacy services. 

Table of contents:

Table of contents:

  • Introduction
  • Objectives
  • Methodology
  • Structure of the Report
  • Executive Summary
  • End-to-End Process Digitalization Is A Key Priority
  • A Widespread Approach to Process Transformation
  • Sector Transformation Creates Additional Opportunities for BPS
  • Market Developments & Forecast
  • Market Forecast
  • BPS Market Shares
  • Key Business Issues & Initiatives
  • Market Change
  • Key Organizational Initiatives
  • Improving the Economics of the business
  • Creating the Digital enterprise
  • Operational Transformation Initiatives
  • Operations Transformation Intentions
  • Operational transformational Initiatives
  • Approach to Operational Transformation
  • Use of BPS to Drive Operational Transformation
  • Impact of PESTLE Factors on Sourcing and Shoring
  • Impact of Automation on Sourcing and Shoring
  • Approach to Automation
  • Implications for Staffing & BPO
  • Overall Trends
  • Reduction in overall resource levels
  • Shifting skills profile
  • Changing expectations from BPS Suppliers
  • Impact of PESTLE Factors
  • Impact on BPS Shoring Profile
  • Impact on Internal Staffing
  • Impact on White-Collar Staffing
  • BPS Spend and Productivity

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