Although its base is small, the Asia Pacific insurance BPO market has grown by about 250% in recent years, with its share of contract signings more than doubling in 2011-2012 over the prior four years (from 6% of all contract signings to 15% – second only to the U.S.).
Small buyers (less than US$5 billion in revenue) make up 73% of buyers adopting insurance BPO in the last two years in APAC, and 52% of buyers adopting insurance BPO in the UK.
EMEA (excluding UK) saw 24% growth in CCO from 2011-2012, the highest of all regions; it now accounts for nearly a quarter of all CCO market share, second only to the U.S. APAC also saw healthy growth of 19%.
Though US-based large market organizations continue to be principal adopters, the SMB* and Asia Pacific markets are driving growth
*Small or medium business: a company with annual revenue of US$500 million to US$1 billion