Business Process Outsourcing News and Information

As consolidations, mergers and non accomplishments are mounting along with dog-eats-dog competition from other financial service verticals, the Insurance industry is experiencing probably its most epochal economic and competitive challenges in its history. To succeed in this ever competitive global village environment, insurers are embracing outsourcing in a never before way.

Datamonitor has prepared a report on Global Insurance Technology Business which deals with issues like

1.International trends in insurance business performance
2.Technology spending trends.
3.Recent trends in insurance outsourcing Technology across World (and obviously special emphasis to Asia Pacific)

The study is not free. Available here

Highlights of the study:

Outsourcing (BPO and offshore) slightly more important in Asia Pacific, where de novo operations or "near-shoring" opportunities are more prevalent BPO activity increasing, as 52% of firms outsource at least one process, compared to 47% in 2006 and 41% in 2005 surveys. Closed book policy administration remains key target for outsourcing/TPA due to low risk