Market Analysis
published on Nov 14, 2019
Report Overview:
NelsonHall’s “Operational Transformation in the Life, Annuities, & Pensions Sector: 2019” 43-page report is based on global interviewing of senior executives in the life, annuities, & pensions sector across four geographies: U.S., U.K., Continental Europe, and Asia Pacific.
In particular, the report analyzes the principal business issues faced by life, annuities, & pensions firms and the operational transformation initiatives planned in response to these issues by function and by technology.
It then addresses the extent to which BPS vendors will be involved in operations transformation, together with the key vendor characteristics sought in an operations transformation partner.
Who is this Report for:
NelsonHall’s “Operational Transformation in the Life, Annuities, & Pensions Sector: 2019” report is a comprehensive market assessment report designed for:
- Sourcing managers investigating operational transformation developments within the life, annuities, & pensions sector
- Vendor marketing, sales and business managers developing strategies to target operational transformation and business process services (BPS) opportunities within the life, annuities, & pensions 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 life, annuities, & pensions sector in the U.S., U.K., Continental Europe, and Asia Pacific.
The report analyzes the worldwide market for operational transformation and business process services within the life, annuities, & pensions sector and addresses the following questions:
- What are the principal business priorities faced by organizations in the life, annuities, & pensions sector?
- What benefits are sought from operational transformation by life, annuities, & pensions firms?
- In which functional areas are life, annuities, & pensions firms planning operations transformation initiatives?
- What initiatives are life, annuities, & pensions firms planning around key technologies such as analytics, AI, and blockchain?
- To what extent, and how, will BPS vendors be involved in operations transformation?
- What are the key characteristics sought in an operations transformation partner by life, annuities, and pensions firms?
- What levels of productivity gain are being targeted by life, annuities, & pensions firms?
Key Findings & Highlights:
While life, annuities, and pensions firms have a major ongoing need to reduce their administrative costs and RPA continues to have a considerable role to play, it is also critical for life, annuities, and pensions firms to improve the manners in which they acquire and retain customers.
Consequently:
- Marketing and customer service are key areas for operational transformation
- Analytics is key to customer acquisition & pricing as well as investment performance
- Seventy percent of life, annuities, and pensions firms would consider operations transfer to achieve end-to-end operational synergy.