The global life and pensions Business Process Outsourcing (BPO) market size is expected to reach USD 6,216.2 Million at a revenue CAGR of 9.1% in 2028, according to latest analysis by Emergen Research. Steady global life and pensions Business Process Outsourcing (BPO) market revenue growth can be attributed to rising focus on reducing insurance administration costs and improving operational processes. Life and pension insurance companies benefit from outsourcing highly transactional processes, including new business processing, claims & payments administration, and underwriting support. Insurance companies can derive substantial added value by taking advantage of BPO for various other processes. For instance, outsourcing actuarial support analytics is highly beneficial for optimizing pricing and precise premium calculations, which aids life and pension insurance firms to target more consumers on basis of risk profiles and demographics. BPO providers such as TCS, DXC Technology, NTT Data Corporation, and SE2 – decades of domain experience – are capable of providing support for cross-selling and up-selling initiatives, ensuring customer retention, exploiting new sales and distribution channels, and entry into new geographies.
The Global Life and Pensions Business Processing Outsourcing Market report presents comprehensive information covering insightful data for businesses and investors for the time period of. The report studies the historical data of the Life and Pensions Business Processing Outsourcing market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects. The report covers the currently fluctuating market scenario along with present and future assessment of the COVID-19 impact. The report encompasses the historical data, company overview, financial standing, and necessary information about the new and key players of the market.
The report studies the factors influencing the growth of the industry in the global market and offers accurate predictions about the growth pattern. The report pays special attention to the key elements of the market, such as drivers, restraints, opportunities, threats, risks, limitations, and other aspects. The report covers a comprehensive analysis of the competitive landscape with a detailed analysis of the company profiles, product portfolio, and business expansion strategies.
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Key Points of Life and Pensions Business Processing Outsourcing Market:
Extensive coverage of the analysis of the Life and Pensions Business Processing Outsourcing market
Key insights into the regional spread of the industry in key geographies
Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the Life and Pensions Business Processing Outsourcing market
Complete data about the key manufacturers and vendors in the Life and Pensions Business Processing Outsourcing market
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
The major companies Covered in the report are:
Tata Consultancy Services, DXC Technology, SE2, Cognizant, EXL Service, Concentrix, NTT Data Corporation, Capgemini, Accenture, and Capita
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The report further offers a complete value chain analysis along with an analysis of the downstream buyers and upstream raw materials. The study focuses on global trends, regulatory frameworks, and macro- and micro-economic factors. The report also provides an extensive analysis of the segment and sub-segmented expected to dominate the market over the projected period. The report offers a forecast estimation of the market with regards to the analysis of the market segmentation, including product type, end-user industries, application spectrum, and other segments.
Life and Pensions Business Processing Outsourcing Market Segmentation:
Type Outlook (Revenue, USD Million; 2018–2028)
Annuities & Pensions
Services Outlook (Revenue, USD Million; 2018–2028)
Policy Servicing and Claims Administration
Billing & Accounts Receivable
Change Management Services
New Business Support
Robotic Process Automation (RPA)
Analytics & Insights
The report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals.
Regional Analysis of the Life and Pensions Business Processing Outsourcing Market:
The report sheds light on the region expected to dominate the Life and Pensions Business Processing Outsourcing market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Life and Pensions Business Processing Outsourcing market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
Key Benefits of Buying the Global Life and Pensions Business Processing Outsourcing Report:
Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the Global Life and Pensions Business Processing Outsourcing market.
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global Life and Pensions Business Processing Outsourcing Market
Extensive profiling of the key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global Life and Pensions Business Processing Outsourcing Market
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