Global Insurance BPO Market Growth Driven by Cost Effectiveness and Operational Efficiency

DALLAS, September 13, 2014 /PRNewswire/ --

ReportsnReports.com adds Global Insurance Business Process Outsourcing (BPO) Market 2014-2018 research report of 79 pages to its store. Key players in the Global Insurance Business Process Outsourcing (BPO) Market like EXL Services Holdings Inc., Genpact Ltd., Tata Consultancy Services Ltd. and WNS Holdings Ltd as well as other Prominent Vendors in the market like Accenture, Capita, Cognizant, CSC, Dell, HCL, iGate, Infosys, MphasiS, Serco, Sutherland Global Services, Syntel, Tech Mahindra, Wipro, Xchanging and Xerox are discussed in this report available at http://www.reportsnreports.com/reports/297778-global-insurance-business-process-outsourcing-bpo-market-2014-2018.html .

Commenting on the insurance BPO market report, an analyst from the publishing team said: "The outsourcing of complex processes such as actuarial analysis and underwriting and analytics support has increased in recent years and is expected to increase further during the forecast period. There has been a significant increase in the demand for outsourcing underwriting and analytics support activities in the Insurance market."

According to the report, Global Insurance BPO market is forecast to grow at a CAGR of 5.19% over the period 2013-2018. One of the major factors driving the growth of the Global Insurance BPO Market is the cost-effectiveness of outsourcing certain operations of capital markets. Many client firms are outsourcing their back-office functions that require a stable infrastructure, capital investment, and human resources; thus, enabling them to improve their operational efficiency and cut costs through labor arbitrage.

Further, the report states that data security is one of the major challenges faced by the market. The confidential nature of the Insurance market data makes it a risky affair, and extra measures need to be taken to ensure data confidentiality. The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. Order a copy of this report at http://www.reportsnreports.com/Purchase.aspx?name=297778 .

Insurance BPO is a sub-segment of the Banking, Financial Services, and Insurance (BFSI) BPO segment. BPO service providers support some of the leading financial institutions and custodians in the world. The value chain of the Insurance industry comprises of product development, marketing, administration, asset management, and claims management. Insurance BPO is a segment of outsourcing, which consists of subcontracting the business processes of an organization to a third-party vendor that has expertise in the insurance domain. It can be defined as delegating one or more business activities to external companies (vendors), which, in turn, administer and manage the selected activity, based on defined and measurable performance criteria. It helps clients increase operational efficiency, concentrate on their core competencies, reduce time-to-market, obtain access to fresh talent and experience along with latest technologies, and build an organization with an economical cost structure.

The Global Insurance BPO market can be segmented on the basis of BPO services into the following: Property and Casualty and Life and Pension. The report also discusses in detail the market spending across these two segments and key geographical regions in the market. Key questions answered in this report include:

• What will the market size be in 2018 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

Another report on global language services market 2014-2018 says that an increase in the number of trade and business activities worldwide has forced companies to understand their customers' language, culture, and trends in a better way. This has led to the demand for language service providers (LSPs). LSPs help bridge the communication gap between clients, businesses, and individuals. Many language service providing companies offer a suite of services from document translation, website localization, and multilingual court reporting to oral interpretation. As a result of growing demand from end-users, language service providers include many services in their offerings. Global Language Services market is forecast to grow at a CAGR of 5.72% over the period 2013-2018.

Global Language Services Market 2014-2018 report (http://www.reportsnreports.com/reports/296510-global-language-services-market-2014-2018.html ) has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers APAC, Europe, Latin America, MEA, and North America; it also covers the Global Language Services market landscape and its growth prospects in the coming years. The report includes a discussion of the key companies operating in this market including Euroscript, HP, Lionbridge, SDL, Star Group and other prominent vendors like CLS Communication, Honyaku center, ManpowerGroup Solution, Moravia, RWS Group, thebigword Group and Yamagata Intech.

Explore more reports on business, banking and financial services market at http://www.reportsnreports.com/market-research/banking-services/ .

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