General insurance BPS opportunities in a rapidly changing market
The UK general insurance BPS market is at the cusp of major change. 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 greater customer intimacy. This is spurring new opportunities and threats for BPS providers focused on the UK general insurance market. New BPS entrants are taking advantage of this shift, while incumbents are finding themselves faced with many questions how to respond.