- Overview
- Key Messages
- Reducing costs and concentrating on core functions is driving policy
administration BPO
- A flexible policy administration process can improve time-to-market and
enable growth
- Transformative outsourcing will become increasingly important
- Platform utility is an increasingly important way for BPO providers to
protect margins
- A balanced portfolio can afford BPO providers lower costof sales and
fewer market risks
- Table of Contents
- Table of figures
- Market Opportunity: Lean and Flexible - 21st Century Requirements
- Increased competition highlights the importance of cost reduction
- Maturing markets in the US and Europe drive the need for new products and
new markets
- Complex and disparate regulations call for a flexible policy
administration system
- Small and large insurers alike are interested in policy administration BPO
- Full-scale market adoption has been hindered by real as well as unfounded
concerns
- Policy Administration BPO Evolution
- BTO: Taking BPO to the next level
- Historical evolution: Why the UK is a BPO hotbed
- Customer Impact
- Reducing cost and increasing flexibility
- Enabling insurers to concentrate on core competencies
- Making insurers over-dependent on one vendor
- Potentially diminishing the customer and/or agent relationship
- Go to Market
- A balanced portfolio lowers cost of sales and mitigates market risk
- Platform utility will become an increasingly important way for providers
to protect margins
- A global delivery network can help alleviate some fears among insurers
- Recommendations
- Gain a balanced portfolio of open and closed books
- Gain a balanced portfolio of life and non-life policies
- Develop / acquire / enhance platform IP
- Build a global delivery network
- APPENDIX
- Methodology
- Further reading
- Ask the analyst
- Data monitor consulting
- Disclaimer
- List of Figures
- Figure 1: Per capita premiums
- Figure 2: Premium volume of US, UK Japan, BRIC and emerging markets
(2002-2006)
- Figure 3: Business drivers for retooling the policy administration
function
- Figure 4: Current and planned policy administration outsourcing
- Figure 5: Current and planned BPO adoption rates by function
- Figure 6: Levels of policy administration BPO
- Figure 7: Current and planned policy administration BPO in UK, North
America and Europe
- Figure 8: Benefits / risks balance for policy administration BPO
- Figure 9: Balanced portfolio of open and closed books
- Figure 10: Delivery center country destinations, ranked 1-4 (4 being best)
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