NelsonHall Research: Global Property & Casualty BPO Market to Hit $13 Billion by 2018

NelsonHall, an independent BPO analyst firm, announced the availability of its latest research entitled "Targeting Property & Casualty BPO," authored by Fiona Cox, insurance outsourcing analyst at NelsonHall.

The group said the report provides an assessment of P&C business process outsourcing services globally and recommendations for vendors in addressing this market.

Fiona Cox commented, "With increasing regulatory pressures and rising operational costs, the need for P&C BPO vendors to deliver value through process improvements and automation has never been higher. Vendors who seek to differentiate through provision of specialist services and analytics will be especially well positioned to succeed through 2014-2017."

Analytics continues to increase in importance across processes from marketing analytics through medical and legal analytics. In particular, CAT modeling is increasingly being offered by the traditional BPO vendors, such as EXL Service, Genpact, and Infosys, as part of a wider risk management portfolio in response to higher levels of environmental uncertainty.

Analytics is also an important component of subrogation services, particularly in personal auto insurance, where specialist analytics platforms are increasingly being used by P&C BPO vendors to provide both productivity gains and enhanced levels of recovery.

Acquisition remains an important element in gaining P&C skills and specialist capabilities, with for example companies such as Quindell making extensive acquisitions in specialist services such as medico-legal and claims in order to offer an end-to-end P&C BPO capability in support of the auto sector. The need for end-to-end capability supported by platform capability is also an increasing requirement in order to address the fast-growing "virtual insurance" BPO segment in emerging markets in Asia.

NelsonHall added its vendor evaluation and assessment charts for P&C BPO are available for a limited period to buy-side organizations at P&C BPO Vendor Evaluation.

NelsonHall is an BPO and IT outsourcing research firm.

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