London Insurance Business Process Outsourcing Market Revenue Estimated Around USD 1,264 Million By 2027

13-Jan-2020 | Facts and Factors

Facts and Factors Market Research has published a new report titled “London Insurance Business Process Outsourcing Market By Deployment Types (On-Premise and Cloud-Based), By Types of Outsourcing (Call Center Services, Data Mining Services, Finance & Accounting Services, Underwriting Services, Data Processing Services, and Outsourcing Services), By Project Types (Life & Annuity Policy Services, Property & Casualty Policy Services/Claim Services, and Pension Services), and By Organization Size (Large Enterprises and Small & Medium Enterprises): Industry Perspective, Comprehensive Analysis, and Forecast, 2018 - 2027”. According to the report, the London insurance business process outsourcing market is predicted to be valued at approximately USD 518 million in 2018 and is expected to reach a value of around USD 1,264 million by 2027, at a CAGR of around 10.5 % between 2019 and 2027.

Global Indoor Cycling Software Market Size

Request Sample Request Customization Buy Now

The insurance industry is witnessing substantial changes generated by the market as well as regulations. Traditional business models have come under threat and customers, supervisors, and other investors are demanding a reorientation of insurance firms. Moreover, the current years have demonstrated that insurance organizations require flexibility and agility in adjusting to their operating business prototypes depending upon the rapidly altering environment. Myriad sourcing plans are the most common way to enhance the operational elasticity of an insurance firm. Outsourcing of business processes and outsourcing of information technology is the most regular business practice. Outsourcing is defined as providing the contract of current business processes that are not part of the principal competencies of an organization to an independent firm.

Browse the full “London Insurance Business Process Outsourcing Market By Deployment Types (On-Premise and Cloud-Based), By Types of Outsourcing (Call Center Services, Data Mining Services, Finance & Accounting Services, Underwriting Services, Data Processing Services, and Outsourcing Services), By Project Types (Life & Annuity Policy Services, Property & Casualty Policy Services/Claim Services, and Pension Services), and By Organization Size (Large Enterprises and Small & Medium Enterprises): Industry Perspective, Comprehensive Analysis, and Forecast, 2018 - 2027” Report at https://www.fnfresearch.com/london-insurance-business-process-outsourcing-market-by-deployment-128

Cost-efficiency & higher level of flexibility will steer the business trends

The growth of the market during the period from 2019 to 2027 is due to the business process outsourcing offering cost-efficacy and flexibility. Apart from this, the hiring of the workforce from outside or another country can prove to be cost-effective for the firm as the firm has to pay fewer wages as compared to the regional staff. This will further contribute towards the surge of the London insurance business process outsourcing industry over the forecast timeline. Nevertheless, the thinner work limits and strict enforcement of laws will impede the expansion of the market over the forecast period. In addition to this, data security can pose a huge challenge to business expansion. However, the evolution of the knowledge process outsourcing sector has assisted in the fulfillment of the new business demands & offering special roles like equity research, web development, market research, and web design. This, in turn, will create lucrative growth avenues for the market during the forecast timeline.

Furthermore, evolving technologies like cloud computing, automation, and social media utilized by the business process outsourcing firms will further steer the expansion of the industry over the forecast timeline.

Cloud-based deployment type segment to contribute majorly towards the market expansion

The growth of the segment during the period from 2019 to 2027 is attributed to the large-scale deployment of cloud systems for the effective functioning of the insurance business process outsourcing activities.

Call center services to lead the types of outsourcing segment by 2027

The segmental growth during the forecast period is attributed to the massive demand for call center services by the outsourcing firms of the developed countries like the UK, the U.S., and Australia. Moreover, the call center services are proving to be cost-effective and efficient as the employees in third world countries charge less as compared to the developed countries. All these aspects are expected to steer the growth of the segment during the forecast timeline.

Property and casualty policy services/ claim services segment to record the highest CAGR by over 2019-2027

Property and casualty policy services/ claim services segment is predicted to register the highest growth rate of over 11% during the forecast period. The growth of the segment is owing to a massive demand for these services in Europe as well as in London.

Report Scope

Report Attribute

Details

Market Size in 2017

USD 518 Million

Projected Market Size in 2027

USD 1,264 Million

Growth Rate

CAGR 10.5 %

Base Year

2017

Forecast Years

2018-2027

Key Market Players

Accenture plc, Capita plc, Cognizant, EXL, Genpact, HCL Technologies Limited, Infosys, Insuserve-1, Sutherland Global Services Inc, WNS (Holdings) Ltd, Wipro Limited and Others

Key Segment

By Deployment, By Types of Outsourcing, By Project Types, By Organization Size and By Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Purchase Options

Request customized purchase options to meet your research needs. Explore purchase options

Some of the key players in the market include

Accenture plc, Capita plc, Cognizant, EXL, Genpact, HCL Technologies Limited, Infosys, Insuserve-1, Sutherland Global Services, Inc., WNS (Holdings) Ltd., and Wipro Limited.

This report segments the London Insurance Business Process Outsourcing market as follows:

By Deployment Segment Analysis

  • On-Premise
  • Cloud-Based

By Types of Outsourcing Segment Analysis

  • Call Center Services
  • Data Mining Services
  • Finance & Accounting Services
  • Underwriting Services
  • Data Processing Services
  • Outsourcing Services

By Project Types Segment Analysis

  • Life & Annuity Policy Services
  • Property & Casualty Policy Services/Claim Services
  • Pension Services

By Organization Size Segment Analysis

  •  Large Enterprises
  •  Small & Medium Enterprises

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:

Facts & Factors

A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1-347-989-3985

Email: [email protected]

Web: https://www.fnfresearch.com


Latest Market Research Reports

report img

Smart Home Devices Market Report 2024 – 2032

[210+ Pages Report] According to Facts Factors,the global smart home devices market size was valued at USD 140.52 billion in 2023 and is predicted to surpass USD 335.15 billion by the end of 2032. The smart home devices industry is expected to grow by a CAGR of 10.14% between 2024 and 2032. Smart H

Published Date : 10-Dec-2024 | | Category : Technology & Media | Pages : 210 | Format : Read more

Inquiry for Buying Request Sample
report img

Packaging Tubes Market Report 2024 – 2032

[209+ Pages Report] According to Facts Factors,the global packaging tubes market size was valued at USD 4.48 billion in 2023 and is predicted to surpass USD 7.33 billion by the end of 2032. The packaging tubes industry is expected to grow by a CAGR of 5.63% between 2024 and 2032. Packaging Tubes Ma

Published Date : 09-Dec-2024 | | Category : Packaging | Pages : 209 | Format : Read more

Inquiry for Buying Request Sample
report img

Digital Content Creation Market Report 2024 – 2032

[216+ Pages Report] According to Facts Factors,the global digital content creation market size was valued at USD 30.05 billion in 2023 and is predicted to surpass USD 94.24 billion by the end of 2032. The digital content creation industry is expected to grow by a CAGR of 13.54% between 2024 and 203

Published Date : 06-Dec-2024 | | Category : Technology & Media | Pages : 216 | Format : Read more

Inquiry for Buying Request Sample
report img

Patient Safety And Risk Management Software Market Report 2024 – 2032

[215+ Pages Report] According to Facts Factors,the global patient safety and risk management software market size was valued at USD 2,140.35 million in 2023 and is predicted to surpass USD 5,378.20 million by the end of 2032. The patient safety and risk management software industry is expected to g

Published Date : 05-Dec-2024 | | Category : Technology & Media | Pages : 215 | Format : Read more

Inquiry for Buying Request Sample
report img

Fitness Tracker Market Report 2024 – 2032

[214+ Pages Report] According to Facts Factors,the global fitness tracker market size was valued at USD 53.14 billion in 2023 and is predicted to surpass USD 247.09 billion by the end of 2032. The fitness tracker industry is expected to grow by a CAGR of 18.62% between 2024 and 2032. Fitness Tracke

Published Date : 04-Dec-2024 | | Category : Technology & Media | Pages : 214 | Format : Read more

Inquiry for Buying Request Sample

Why FnF Market Research?

1 Inflallible Methodology

to ensure high-level data integrity, accurate analysis, and impeccable forecasts

2 Analyst Support

for complete satisfaction

3 Customization

on-demand customization of scope of the report to exactly meet your needs

4 Targeted Market View

Targeted market view to provide pertinent information and save time of readers

5 Agile Approach

A faster and efficient way to cater to the needs with continuous iteration