Policy Administration BPO in UK L&P: Industry Research Report

Policy Administration BPO in UK L&P

Published Date: January 2006

Published By: Datamonitor

Page Count: 14

Order Code: R313-14160

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Description

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Introduction
Policy administration BPO continues to show robust growth with uptake driven predominately by insurers' continued focus on operational efficiency. With vendors faced by a number of challenges such as increasing use of global sourcing strategies and potential VAT changes the pressure is on to deliver on current deals especially around the platform and process transformation promises.

Scope
The report analyses the L&P policy administration BPO market in the UK
Looks at challenges to continued growth and the competitive environment
Provides forecasts for market growth until 2009
Highlights
UK policy administration has so far been dominated by the use of onshore outsourcing resources, however the TCS-Pearl deal, which will see Pearl transfer administration of its existing closed L&P books over to a new subsidiary of TCS, illustrates the growing use of global sourcing strategies in this space.

The European Court of Justice's ruling in 2005 significantly narrows the set of services that can be sold to insurers net of VAT. The ruling will have significant implications for the insurance and outsourcing industry, although exactly what the final implications of the ruling will be remains uncertain awaiting the outcome of a European review.

As a wider range of business/deal structures continues to emerge, keeping sight of original objectives is a key challenge and while reducing costs and management time is regularly cited as a key outsourcing objective, insurers must be careful not to create process inefficiencies and actually reduce executive decision making power.

Reasons to Purchase
Plan your strategy in the UK L&P outsourcing market with confidence drawing on the forecasts in this report
Gain market insight to assist in your strategic planning and go-to-market strategy

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