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Capgemini - Transforming Life & Annuities BPS with End-to-End Digitalization

Vendor Analysis

by NelsonHall Analyst

published on Mar 11, 2020

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Report Overview:

This NelsonHall assessment analyzes Capgemini's offerings and capabilities in Transforming Life & Annuities BPS with End-to-End Digitalization.

Who is this Report for:

NelsonHall’s comprehensive assessment of Capgemini’s life and annuities (L&A) business process service (BPS) offerings and capabilities is designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of business process outsourcing 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 support services sector.

Scope of this Report:

The report comprehensively analyzes the company’s L&A 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 L&A BPS specific revenue and delivery resources.

Key Findings & Highlights:

Capgemini administers business process services (BPS) for life and annuities (L&A) clients predominantly in the U.S. and Canada. The L&A business is part of a global insurance vertical business that also includes property and casualty (P&C) and health insurance carriers. Capgemini reported in 2019 that its global insurance vertical was its fastest growing vertical, that it generated $1.5bn in revenue, and that it served 12 of the 15 largest global carriers.

Capgemini administers its North American L&A business through a third party administrator (TPA) called CHCS Services Inc. This TPA is a subsidiary of Capgemini Americas. (CHCS also administers other Capgemini BPS offerings in the healthcare market products.)  Across the L&A and healthcare sectors, CHCS Services administers approximately 4 million policies from ten operating locations. Approximately half the policies are for L&A customers in Canada and the U.S.

In July 2015 Capgemini acquired iGATE, a U.S.-listed technology services company headquartered in New Jersey, U.S. The acquisition increased Capgemini’s insurance client footprint, including its L&A business process service (BPS) offerings. Following the iGATE acquisition, Capgemini reorganized to serve global, multi-line insurance carriers across the spectrum of their IT and BPS needs. In Capgemini’s financial services vertical business, sales, marketing, and account management personnel from IT and BPS service lines now go to market together and report under unified P&Ls.

NelsonHall estimates that Capgemini’s CY 2019 revenue from L&A BPS at:

  • Open book: 28%
  • Closed book: 72%

Total revenues: $53m

Capgemini serves approximately 10 LA&P BPS carriers in the U.S. and Europe that range in size from small to large. Capgemini administers approximately 2.5 million U.S. and Canadian policies in both open and closed blocks. Capgemini has carved out a niche serving small subsidiaries of global multi-line carriers.

Full policy administration and/or new business through the InsPro platform is provided to around six companies, including companies in the top tiers of the Fortune 500. Client policy migration has taken Capgemini’s platform takes 24 months on average. A new partnership with software vendor Majesco is complementing the InsPro partnership, however, and over the long-term Capgemini intends to go to market primarily with the Majesco platform.

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