General insurance BPS opportunities in a rapidly changing market

The UK general insurance BPS market is at the cusp of major change in 2013. New UK and EU regulations are forcing general insurers and their ecosystem partners to evolve, reducing fraud, driving out cost for the consumer and improving transparency.

Meanwhile, new technologies and services are coming into play such as telematics, self-service and social media, which demand higher degrees of customer intimacy. This is spurring new opportunities and threats for BPS providers focused on the UK general insurance market.

New BPS entrants such as Quindell Portfolio and Parabis are taking advantage of this shift, while incumbents like Capita, WNS and Xchanging are finding themselves in a tough position how to respond. There are many other players across the software, IT and business process services spectrum all vying for a piece of the action in a general insurance BPS market we expect to grow in high single digits over the next few years.

Subscribers to TechMarketView's very popular research stream BusinessProcessViews can read the full report here.

Posted by John O'Brien at '08:57' - Tagged: bpo   bps   insurance