latest report from Emergen Research, the market research report discusses the global Life and Pensions Business Processing Outsourcing market in depth, and each of the major market segments is examined in depth. In addition to market information, the report provides industry statistics, regional market revenue shares, gross profits, production & distribution costs, and product portfolios related to the global Life and Pensions Business Processing Outsourcing market. There are also a number of factors influencing industry revenue growth identified in the report, including drivers, opportunities, trends, restraints, challenges, demand and supply ratios, production and consumption patterns, stringent regulatory frameworks, as well as a multitude of other micro- and macro-economic factors.

The global life and pensions Business Process Outsourcing (BPO) market size is expected to reach USD 6,216.2 Million at a revenue CAGR of 9.1% in 2028, according to latest analysis by Emergen Research. Steady global life and pensions Business Process Outsourcing (BPO) market revenue growth can be attributed to rising focus on reducing insurance administration costs and improving operational processes. Life and pension insurance companies benefit from outsourcing highly transactional processes, including new business processing, claims & payments administration, and underwriting support. Insurance companies can derive substantial added value by taking advantage of BPO for various other processes. For instance, outsourcing actuarial support analytics is highly beneficial for optimizing pricing and precise premium calculations, which aids life and pension insurance firms to target more consumers on basis of risk profiles and demographics. BPO providers such as TCS, DXC Technology, NTT Data Corporation, and SE2 – decades of domain experience – are capable of providing support for cross-selling and up-selling initiatives, ensuring customer retention, exploiting new sales and distribution channels, and entry into new geographies.

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Key Companies Profiled in the Report are:

Tata Consultancy Services, DXC Technology, SE2, Cognizant, EXL Service, Concentrix, NTT Data Corporation, Capgemini, Accenture, and Capita

Market Overview:

The report bifurcates the Life and Pensions Business Processing Outsourcing market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Based on the types, the market is segmented into:

• Type Outlook (Revenue, USD Million; 2018–2028)

  • Life Insurance
  • Annuities & Pensions
  • Others

• Services Outlook (Revenue, USD Million; 2018–2028)

  • Policy Servicing and Claims Administration
  • Underwriting
  • Document Management
  • Actuarial Support
  • Billing & Accounts Receivable
  • Regulatory Reporting
  • Asset Management
  • Change Management Services
  • New Business Support
  • Robotic Process Automation (RPA)
  • Analytics & Insights
  • Others

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Competitive Landscape:

The latest study provides an insightful analysis of the broad competitive landscape of the global Life and Pensions Business Processing Outsourcing market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Life and Pensions Business Processing Outsourcing market and pinpoint the fundamental growth trends.

Regional Landscape section of the Life and Pensions Business Processing Outsourcing report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.

The various regions analyzed in the report include:

• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Life and Pensions Business Processing Outsourcing market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

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