Life and Annuities (L&A) Insurance BPS and Third-party Administrator (TPA) – Provider Compendium 2023

As the global Life and Annuities (L&A) insurance market rebounds from the pandemic’s impact, it faces a significant new challenge: uncertain macro-economic conditions that are exerting cost pressures on insurance carriers. In this context, insurers are prioritizing cost reduction by limiting discretionary spending to save expenses, while remaining committed to their digital transformation efforts, recognizing the long-term advantages thereof.

Given this situation, insurers are anticipating outsourcing to become a favored strategy for mitigating costs. Providers are also enhancing their capabilities to position themselves more effectively for larger contracts, aligning with insurers’ transformative initiatives. As insurers face rising demand for assistance in areas such as actuarial transformation, streamlined underwriting, and new product launches due to evolving customer preferences and legacy issues, providers are proactively investing in these growth areas to distinguish themselves in the market and maintain a competitive edge.

Life and Annuities (L&A) Insurance Business Process Services (BPS) / Third Party Administrator (TPA)   Service Provider Compendium 2023 provides accurate, comprehensive, and fact-based snapshots of 23 L&A insurance BPS/TPA providers. Each profile offers a comprehensive picture of the provider’s services suite, scale of operations, recent developments and investments, technology solutions, and delivery locations, and specifies the provider’s position on Everest Group’s PEAK Matrix^® framework. The report also provides insights on the global L&A insurance BPS/TPA provider landscape.