Property and Casualty (P&C) Insurance BPS

Enterprises have been increasingly turning to P&C insurance BPS providers during the recession to address elevated operating costs resulting from heightened inflation, which has led to increased claims expenses and rate adjustments for various P&C products. Cost reduction has once again become the foremost reason for outsourcing, along with the pursuit of operational efficiency to achieve improved business results. Additionally, there have also been delays in decision making from key enterprise leaders for handing out transformational projects.

Nevertheless, P&C insurance BPS providers are actively seeking opportunities for expansion by enhancing their capabilities in less frequently outsourced areas such as underwriting, actuarial analysis, and claims processing, all of which represent substantial cost centers for enterprises. Additionally, they are presenting transformational initiatives to initial adopters of outsourcing who have yet to fully realize the advantages of partnering with BPS providers to boost efficiency and cut costs, enabling them to sustain and improve growth in a challenging environment.

Insurance BPS 

What is in this PEAK Matrix® Report

In this report, we assess 21 P&C insurance Business Process Services (BPS) providers and position them on Everest Group’s PEAK Matrix® framework as Leaders, Major Contenders, and Aspirants. Each provider profile provides a comprehensive picture of its vision, delivery capabilities, market success, and key strengths and limitations. The report also examines the global P&C insurance BPS market and its provider landscape. The study will assist key stakeholders, such as insurance enterprises, service providers, and technology providers, to understand the current state of the P&C insurance BPS market.
 

This report features 21 P&C service provider profiles, and includes:

  • Providers’ relative positioning on Everest Group’s PEAK Matrix® for P&C insurance BPS
  • Providers’ market impact
  • The evaluation of providers’ vision and capabilities across key dimensions

Scope:

  • Industry: P&C insurance BPS
  • Geography: global
  • In this report, we only cover vertical-specific P&C operations and have omitted horizontal business processes, such as Finance and Accounting (F&A), Human Resources (HR), procurement, and contact center

Related PEAK Matrix® Assessments

Capital Markets IT Services
PEAK Matrix®

Capital Markets IT Services PEAK Matrix® Assessment 2024

Life & Annuity (L&A) Insurance IT Services PEAK Matrix
PEAK Matrix®

Life & Annuity (L&A) Insurance IT Services PEAK Matrix® Assessment 2024

Guidewire Services
PEAK Matrix®

Guidewire Services PEAK Matrix® Assessment 2024

Life Sciences Regulatory and Medical Affairs Operations
PEAK Matrix®

Life Sciences Regulatory and Medical Affairs Operations PEAK Matrix® Assessment 2024

Our Latest Thinking

12 10 2024 Mapping the Next 1200x628 1
Events

Mapping the Next: Key Priorities for 2025

11 26 2024 Emerging IT Services 1200x628 GTP
Events

Emerging IT Services Outsourcing Trends and Deal Strategies in EMEA

GettyImages 852459910
Blog

Agentic AI in Insurance: Transforming Risk, Relationships, and Results

Azure and AWS Outpace in Scale of Partnerships with the Leading 50 L&A Tech Providers | Market Insights™
Market Insights™

Azure and AWS Outpace in Scale of Partnerships with the Leading 50 L&A Tech Providers

What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

LEARN MORE ABOUT Top Service Providers

How can we engage?

Please let us know how we can help you on your journey.

Contact Us

"*" indicates required fields

Please review our Privacy Notice and check the box below to consent to the use of Personal Data that you provide.
This field is for validation purposes and should be left unchanged.