Property and Casualty (P&C) Insurance BPO – Service Provider Landscape with Services PEAK Matrix® Assessment 2020

The Property and Casualty (P&C) insurance market has shown strong growth over the past year despite dynamic changes in the global economy. The market is shaped by factors such as evolving risks, changing compliance and audit requirements, and an enhanced need for personalization. To stay competitive, insurers are increasingly embracing digital technologies, including advanced analytics and cognitive aids, to provide consumers a seamless and personalized experience. Consequently, insurers’ demands from service providers have also moved beyond cost efficiencies to value additions, to aid their transformation agendas.

In this research, we present detailed assessments of 21 P&C insurance BPO service providers, based on their vision, capabilities, and market impact, and look at their relative positioning on the Everest Group PEAK Matrix® for P&C insurance BPO. Our assessment is based on Everest Group’s annual RFI process for H2 2018- H1 2019, interactions with leading P&C insurance BPO service providers, client reference checks, and an ongoing analysis of the P&C insurance BPO market.