Vendor Analysis
published on Mar 12, 2020
Report Overview:
This NelsonHall assessment analyzes Atos' offerings and capabilities in Transforming Life & Annuities BPS with End-to-End Digitalization.
Who is this Report for:
NelsonHall’s comprehensive assessment of Atos’ 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:
The majority of Atos' BPS work is in the life insurance sector, although Atos offers BPS to L&A carriers across other major product lines. Atos is focused on serving large global L&A carriers. Atos also serves some smaller carriers and has plans to expand its business among these smaller carriers.
Atos is targeting current L&A clients for cross-sell expansion. Non-BPS L&A clients in the U.K. include Aviva, which in Q1 2018 awarded Atos a 6.5-year data center hosting contract (Atos had ousted incumbent DXC). In North America, a significant new Atos logo client is CNA Financial. Atos aims to build its Sapiens-based closed book offering based on its experience with Aegon.
Revenues
NelsonHall estimates that Atos’ CY 2019 revenue from L&A BPS at:
- Open book: 15%
- Closed book: 54%
Total revenues: $126m
Globally, Atos serves approximately 65 insurance clients, including 16 of the top 30 carriers across L&A and P&C. Atos counts approximately 25 life insurance carriers as clients across all service lines. Atos conducts the majority of its L&A BPS business for closed books in the U.K.
Atos has structured its L&A BPS services under its ‘Business Transformation Services’ unit. This business unit delivers BPS to two main U.K. clients, with one being the L&A company Aegon U.K. For Aegon, Atos manages approximately 2 million policies, with 75% of the policies being closed book business.
