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Policy Administration BPO in UK L&PProduct Type: Market Research ReportPublished by: Datamonitor Published: January 2006 Product Code: R313-14160 Description IntroductionPolicy 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 Table of Contents TABLE OF CONTENTSMARKET CONTEXT 5 Introduction 5 Global sourcing strategies increase in importance within policy administration BPO 5 VAT 6 New business / Deal structures 6 Platform Consolidation 7 COMPETITIVE POSITIONING 9 TCS become a major player with one large deal, illustating the immaturity of the market 9 Capita 9 CSC 10 EDS 10 Liberata 10 TCS 11 Unisys 11 Vertex Financial Services (Marlborough Stirling) 11 THE FUTURE DECODED 12 Market moves toward maturity but robust growth continues to 2009 12 APPENDIX 14 Future readings 14 SPP writing team 14 |
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