New Research From NelsonHall Indicates That the Emerging Life and Pensions Markets of China and India Offer Significant Opportunities for L&P BPO
LONDON and BOSTON, MA and KÖLN, GERMANY--(Marketwire - April 16, 2008) - NelsonHall, the leading independent
BPO analyst firm, today announced the availability of its latest research
titled, "Targeting Life & Pensions Insurance BPO," a global review of
the L&P BPO market and buy-side requirements, authored by Charles Juniper, Insurance Sector Analyst at NelsonHall.
Juniper commented, "The geographic profile of the global L&P BPO market is
set to see significant change with a major emphasis on supporting life
companies in their efforts to establish a foothold in the emerging L&P
markets of China and India. The L&P BPO market in China is forecast to more
than triple in size by 2012."
In the mature L&P BPO market of the U.S. and U.K. the emphasis has moved
from cost reduction as the primary goal towards an increasing customer
service focus to drive new business growth and maximize the value of closed
block business. The U.K. has seen most activity in the last five years and
is currently the biggest geographic market. It is likely to see some
consolidation amongst the U.K. life & pensions BPO providers. North America
will overtake the U.K. to become the largest regional L&P BPO market by
2012 while growth in Continental Europe remains moderate at 11% CAGR. Some
of the other key findings discussed in the report include:
-- The global L&P BPO market will grow by 14% CAGR up to 2012 to reach
nearly $4Bn.
-- Following the success of BPO for closed block administration, the life
industry is increasingly confident of BPO providers' ability to generate
new revenues and support life company brands. The majority of L&P BPO
activity will be open block by 2012.
-- There is an increasing opportunity for providers to undertake complex
open block processing in sectors demanding high levels of customer service
such as the high net-worth individuals or non-domiciled professionals
segments.
-- A significant increase in the volume and complexity of activity that
will be performed offshore will occur in the next two to three years with
India remaining the strongly preferred location.
NelsonHall's study utilizes in-depth interviews with users and vendors to
research key topics such as the major issues and buy-side requirements of
life insurers, market size and growth as well as vendor offerings and
go-to-market strategies. The report was written specifically for executives
researching vendor capabilities before making purchasing decisions and
market managers developing strategies to target segments of the L&P BPO
market.
NelsonHall's "Targeting Life & Pensions Insurance BPO" report is available
now as part of NelsonHall's Insurance Sourcing program. For more
information about NelsonHall's services, please contact the following
NelsonHall representatives:
Rob Hughes at rob.hughes@nelson-hall.com or call on (+44) 8707 705967
Tony West at tony.west@nelson-hall.com or call on (+1) 770 754 0272
About NelsonHall
Founded in 1998, NelsonHall is the leading global independent research
analyst firm in Business Process Outsourcing (BPO). The company provides
buy-side and sell-side organizations with deeper research and analyses in
major BPO disciplines than any other research firm in the world. These
include Finance and Accounting, Human Resources, Procurement, Banking,
Insurance, Government and Customer Management Services. The company's
subscription-based model provides subscribers with robust market analyses,
case studies, vendor assessments, contract analyses, market reports and
access to a content-rich BPO contracts database. The firm covers a wide
range of industries, including financial services, government and utilities
sectors, and tracks worldwide and regional BPO activity. For more
information on NelsonHall, please visit www.nelson-hall.com.