Vendor Analysis
published on Apr 25, 2013
Report Overview:
This NelsonHall vendor assessment analyzes IBM's offerings and capabilities in life insurance BPO. IBM is one of a number of life insurance BPO companies analyzed in NelsonHall's comprehensive industry analysis programs.
Who is this Report for:
NelsonHall's life insurance Vendor Assessment for IBM is a comprehensive assessment of IBM's life insurance offerings and capabilities designed for:- Sourcing managers monitoring the capabilities of existing suppliers of life, annuities, investments and pensions services and identifying vendor suitability within this space
- Vendor marketing, sales and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the BPO services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of IBM's life insurance BPO offerings, capabilities, and market and financial strength, including:
- Analysis of the company's offerings and key service components
- Revenue estimates
- Identification of the company's strategy, emphasis and new developments
- Analysis of the profile of the company's customer base, including the company's targeting strategy and examples of current contracts
- Analysis of the company's strengths, weaknesses and outlook.
Key Findings & Highlights:
IBM's Life BPO business is encompassed with the organizations 'Global Process Services' (GPS) and is known as 'IBM's Insurance Outsourcing Services' (IIOS). IIOS provides ~3m LA&P policies for North American clients.
'Genelco' is IIOS's Java-based life and annuity administrative platform of which it runs clients' policies. This is the proprietary platform used for all of IIOS's life insurance BPO clients.
Within North America, IIOS is looking to target acquirers and organizations that are engaged in M&A activities. In particular, IIOS is seeking to partner with companies who look to buy blocks of business of life insurance companies with a view to consolidating them into a TPA solution.