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India Insurance BPO Market By Type (Policy Administration, Asset Management, Finance and Accounting Services, Customer Care Services, Marketing, Others), By Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises), By Application (Life Insu

Publisher Allied Market Research
Published Apr 02, 2023
Length 86 Pages
SKU # ALMR18790488

Description

India Insurance BPO Market By Type (Policy Administration, Asset Management, Finance and Accounting Services, Customer Care Services, Marketing, Others), By Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises), By Application (Life Insurance, Non-Life Insurance): Opportunity Analysis and Industry Forecast, 2023-2032


Outsourcing helps in reducing operational costs, overcoming economic uncertainties, and providing a strong foundation for expansion and growth. The India Insurance Business Process Outsourcing (BPO) Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

India's insurance BPO market benefits from the country's relatively low labor costs compared to developed nations. Insurance companies can outsource various processes to Indian service providers, enabling them to achieve cost savings and operational efficiencies. In addition, the skilled workforce and insurance industry in India has been experiencing significant growth, driven by factors like increasing disposable income, rising awareness about insurance, and regulatory reforms. This growth creates a demand for specialized services, making it an opportune time for insurance BPO providers to expand their offerings and cater to the evolving needs of insurance companies.

However, as the insurance industry deals with sensitive customer data, data security, and privacy concerns pose a significant challenge for the insurance BPO market in India. Ensuring robust data protection measures, complying with global regulations like GDPR, and building trust with international clients is crucial to overcoming this restraint. On the other hand, the insurance industry is undergoing a digital transformation globally, adopting technologies such as artificial intelligence (AI), robotic process automation (RPA), and data analytics. This presents an opportunity for Indian insurance BPO providers to leverage their technological capabilities and domain expertise to offer specialized services in areas like data analytics, AI-driven customer support, claims processing automation, and digitization of policy administration.

The insurance BPO market is segmented based on type, enterprise size and application. By type segment is classified into asset management, policy administration, finance and accounting services, customer care services, market and others. By enterprise size the market is bifurcated into large enterprise size and small and medium-sized enterprises. On the basis of application, the insurance BPO market is categorized into non-life insurance and life insurance. And key players covered in this research study are Wipro, Genpact, CGI Group, Cognizant, Infosys, Accenture, Xerox, DXC Technology, HCL Technologies, and Capgemini.

The report focuses on growth prospects, restraints, and analysis of the India Insurance BPO market trend. The study provides Porter’s five forces analysis to understand the impact of various factors, such as the bargaining power of suppliers, competitive intensity of competitors, the threat of new entrants, the threat of substitutes, and the bargaining power of buyers on the India Insurance BPO market share.

Key Benefits For Stakeholders

Enable informed decision-making process and offer market analysis based on current market situation and estimated future trends.
Analyze the key strategies adopted by major market players in india insurance bpo market.
Assess and rank the top factors that are expected to affect the growth of india insurance bpo market.
Top Player positioning provides a clear understanding of the present position of market players.
Detailed analysis of the india insurance bpo market segmentation assists to determine the prevailing market opportunities.
Identify key investment pockets for various offerings in the market.
Consumer Buying Behavior Analysis
Product Benchmarking / Product specification and applications
Consumer Preference and Product Specifications
New Product Development/ Product Matrix of Key Players
Patient/epidemiology data at country, region, global level
Additional company profiles with specific to client's interest
Additional country or region analysis- market size and forecast
Expanded list for Company Profiles
Key player details (including location, contact details, supplier/vendor network etc. in excel format)
SWOT Analysis

Key Market Segments

By Type

Asset Management
Finance and Accounting Services
Customer Care Services
Marketing
Others
Policy Administration

By Enterprise Size

Large Enterprises
Small and Medium-sized Enterprises

By Application

Life Insurance
Non-Life Insurance

Key Market Players

WNS Global Services
Genpact Limited
EXL Service
CMS Information Services Pvt. Ltd.
Bajaj Allianz General Insurance Co. Ltd.
Infosys BPO
Mphasis BPO
Allsec Technologies
Firstsource Solutions
TCS BPO

Please Note: It will take 7-10 business days to complete the report upon order confirmation. 

Table of Contents

86 Pages
CHAPTER 1: INTRODUCTION
1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits to the Stakeholders
1.4. Research Methodology
1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools and Models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Impacting Factors
3.2.2. Top Investment Pockets
3.3. Porter’s Five Forces Analysis
3.4. Market Dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
3.5. COVID-19 Impact Analysis on the market
CHAPTER 4: INDIA INSURANCE BPO MARKET, BY TYPE
4.1. Overview
4.1.1. Market Size and Forecast, By Type
4.2. Policy Administration
4.3. Asset Management
4.4. Finance and Accounting Services
4.5. Customer Care Services
4.6. Marketing
4.7. Others
CHAPTER 5: INDIA INSURANCE BPO MARKET, BY ENTERPRISE SIZE
5.1. Overview
5.1.1. Market Size and Forecast, By Enterprise Size
5.2. Large Enterprises
5.3. Small and Medium-sized Enterprises
CHAPTER 6: INDIA INSURANCE BPO MARKET, BY APPLICATION
6.1. Overview
6.1.1. Market Size and Forecast, By Application
6.2. Life Insurance
6.3. Non-Life Insurance
CHAPTER 7: COMPETITIVE LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Top player positioning, 2022
CHAPTER 8: COMPANY PROFILES
8.1. WNS Global Services
8.1.1. Company overview
8.1.2. Key Executives
8.1.3. Company snapshot
8.1.4. Operating business segments
8.1.5. Product portfolio
8.1.6. Business performance
8.1.7. Key strategic moves and developments
8.2. Genpact Limited
8.2.1. Company overview
8.2.2. Key Executives
8.2.3. Company snapshot
8.2.4. Operating business segments
8.2.5. Product portfolio
8.2.6. Business performance
8.2.7. Key strategic moves and developments
8.3. EXL Service
8.3.1. Company overview
8.3.2. Key Executives
8.3.3. Company snapshot
8.3.4. Operating business segments
8.3.5. Product portfolio
8.3.6. Business performance
8.3.7. Key strategic moves and developments
8.4. CMS Information Services Pvt. Ltd.
8.4.1. Company overview
8.4.2. Key Executives
8.4.3. Company snapshot
8.4.4. Operating business segments
8.4.5. Product portfolio
8.4.6. Business performance
8.4.7. Key strategic moves and developments
8.5. Bajaj Allianz General Insurance Co. Ltd.
8.5.1. Company overview
8.5.2. Key Executives
8.5.3. Company snapshot
8.5.4. Operating business segments
8.5.5. Product portfolio
8.5.6. Business performance
8.5.7. Key strategic moves and developments
8.6. Infosys BPO
8.6.1. Company overview
8.6.2. Key Executives
8.6.3. Company snapshot
8.6.4. Operating business segments
8.6.5. Product portfolio
8.6.6. Business performance
8.6.7. Key strategic moves and developments
8.7. Mphasis BPO
8.7.1. Company overview
8.7.2. Key Executives
8.7.3. Company snapshot
8.7.4. Operating business segments
8.7.5. Product portfolio
8.7.6. Business performance
8.7.7. Key strategic moves and developments
8.8. Allsec Technologies
8.8.1. Company overview
8.8.2. Key Executives
8.8.3. Company snapshot
8.8.4. Operating business segments
8.8.5. Product portfolio
8.8.6. Business performance
8.8.7. Key strategic moves and developments
8.9. Firstsource Solutions
8.9.1. Company overview
8.9.2. Key Executives
8.9.3. Company snapshot
8.9.4. Operating business segments
8.9.5. Product portfolio
8.9.6. Business performance
8.9.7. Key strategic moves and developments
8.10. TCS BPO
8.10.1. Company overview
8.10.2. Key Executives
8.10.3. Company snapshot
8.10.4. Operating business segments
8.10.5. Product portfolio
8.10.6. Business performance
8.10.7. Key strategic moves and developments
LIST OF TABLES
TABLE 01. INDIA INSURANCE BPO MARKET, BY TYPE, 2022-2032 ($MILLION)
TABLE 02. INDIA INSURANCE BPO MARKET, BY ENTERPRISE SIZE, 2022-2032 ($MILLION)
TABLE 03. INDIA INSURANCE BPO MARKET, BY APPLICATION, 2022-2032 ($MILLION)
TABLE 04. WNS GLOBAL SERVICES: KEY EXECUTIVES
TABLE 05. WNS GLOBAL SERVICES: COMPANY SNAPSHOT
TABLE 06. WNS GLOBAL SERVICES: OPERATING SEGMENTS
TABLE 07. WNS GLOBAL SERVICES: PRODUCT PORTFOLIO
TABLE 08. WNS GLOBAL SERVICES: KEY STRATERGIES
TABLE 09. GENPACT LIMITED: KEY EXECUTIVES
TABLE 10. GENPACT LIMITED: COMPANY SNAPSHOT
TABLE 11. GENPACT LIMITED: OPERATING SEGMENTS
TABLE 12. GENPACT LIMITED: PRODUCT PORTFOLIO
TABLE 13. GENPACT LIMITED: KEY STRATERGIES
TABLE 14. EXL SERVICE: KEY EXECUTIVES
TABLE 15. EXL SERVICE: COMPANY SNAPSHOT
TABLE 16. EXL SERVICE: OPERATING SEGMENTS
TABLE 17. EXL SERVICE: PRODUCT PORTFOLIO
TABLE 18. EXL SERVICE: KEY STRATERGIES
TABLE 19. CMS INFORMATION SERVICES PVT. LTD.: KEY EXECUTIVES
TABLE 20. CMS INFORMATION SERVICES PVT. LTD.: COMPANY SNAPSHOT
TABLE 21. CMS INFORMATION SERVICES PVT. LTD.: OPERATING SEGMENTS
TABLE 22. CMS INFORMATION SERVICES PVT. LTD.: PRODUCT PORTFOLIO
TABLE 23. CMS INFORMATION SERVICES PVT. LTD.: KEY STRATERGIES
TABLE 24. BAJAJ ALLIANZ GENERAL INSURANCE CO. LTD.: KEY EXECUTIVES
TABLE 25. BAJAJ ALLIANZ GENERAL INSURANCE CO. LTD.: COMPANY SNAPSHOT
TABLE 26. BAJAJ ALLIANZ GENERAL INSURANCE CO. LTD.: OPERATING SEGMENTS
TABLE 27. BAJAJ ALLIANZ GENERAL INSURANCE CO. LTD.: PRODUCT PORTFOLIO
TABLE 28. BAJAJ ALLIANZ GENERAL INSURANCE CO. LTD.: KEY STRATERGIES
TABLE 29. INFOSYS BPO: KEY EXECUTIVES
TABLE 30. INFOSYS BPO: COMPANY SNAPSHOT
TABLE 31. INFOSYS BPO: OPERATING SEGMENTS
TABLE 32. INFOSYS BPO: PRODUCT PORTFOLIO
TABLE 33. INFOSYS BPO: KEY STRATERGIES
TABLE 34. MPHASIS BPO: KEY EXECUTIVES
TABLE 35. MPHASIS BPO: COMPANY SNAPSHOT
TABLE 36. MPHASIS BPO: OPERATING SEGMENTS
TABLE 37. MPHASIS BPO: PRODUCT PORTFOLIO
TABLE 38. MPHASIS BPO: KEY STRATERGIES
TABLE 39. ALLSEC TECHNOLOGIES: KEY EXECUTIVES
TABLE 40. ALLSEC TECHNOLOGIES: COMPANY SNAPSHOT
TABLE 41. ALLSEC TECHNOLOGIES: OPERATING SEGMENTS
TABLE 42. ALLSEC TECHNOLOGIES: PRODUCT PORTFOLIO
TABLE 43. ALLSEC TECHNOLOGIES: KEY STRATERGIES
TABLE 44. FIRSTSOURCE SOLUTIONS: KEY EXECUTIVES
TABLE 45. FIRSTSOURCE SOLUTIONS: COMPANY SNAPSHOT
TABLE 46. FIRSTSOURCE SOLUTIONS: OPERATING SEGMENTS
TABLE 47. FIRSTSOURCE SOLUTIONS: PRODUCT PORTFOLIO
TABLE 48. FIRSTSOURCE SOLUTIONS: KEY STRATERGIES
TABLE 49. TCS BPO: KEY EXECUTIVES
TABLE 50. TCS BPO: COMPANY SNAPSHOT
TABLE 51. TCS BPO: OPERATING SEGMENTS
TABLE 52. TCS BPO: PRODUCT PORTFOLIO
TABLE 53. TCS BPO: KEY STRATERGIES
LIST OF FIGURES
FIGURE 01. INDIA INSURANCE BPO MARKET, 2022-2032
FIGURE 02. SEGMENTATION OF INDIA INSURANCE BPO MARKET, 2022-2032
FIGURE 03. TOP INVESTMENT POCKETS IN INDIA INSURANCE BPO MARKET (2023-2032)
FIGURE 04. PORTER FIVE-1
FIGURE 05. PORTER FIVE-2
FIGURE 06. PORTER FIVE-3
FIGURE 07. PORTER FIVE-4
FIGURE 08. PORTER FIVE-5
FIGURE 09. DRIVERS, RESTRAINTS AND OPPORTUNITIES: INDIA INSURANCE BPO MARKET
FIGURE 10. INDIA INSURANCE BPO MARKET,BY TYPE, 2022 ($MILLION)
FIGURE 11. INDIA INSURANCE BPO MARKET,BY ENTERPRISE SIZE, 2022 ($MILLION)
FIGURE 12. INDIA INSURANCE BPO MARKET,BY APPLICATION, 2022 ($MILLION)
FIGURE 13. TOP WINNING STRATEGIES, BY YEAR
FIGURE 14. TOP WINNING STRATEGIES, BY DEVELOPMENT
FIGURE 15. TOP WINNING STRATEGIES, BY COMPANY
FIGURE 16. PRODUCT MAPPING OF TOP 10 PLAYERS
FIGURE 17. COMPETITIVE DASHBOARD
FIGURE 18. COMPETITIVE HEATMAP: INDIA INSURANCE BPO MARKET
FIGURE 19. TOP PLAYER POSITIONING, 2022
FIGURE 20. WNS GLOBAL SERVICES: NET SALES, 2020-2022* ($MILLION)
FIGURE 21. WNS GLOBAL SERVICES: REVENUE SHARE, BY SEGMENT, 2022 (%)
FIGURE 22. WNS GLOBAL SERVICES: REVENUE SHARE, BY GEOGRAPHY, 2022 (%)
FIGURE 23. GENPACT LIMITED: NET SALES, 2020-2022* ($MILLION)
FIGURE 24. GENPACT LIMITED: REVENUE SHARE, BY SEGMENT, 2022 (%)
FIGURE 25. GENPACT LIMITED: REVENUE SHARE, BY GEOGRAPHY, 2022 (%)
FIGURE 26. EXL SERVICE: NET SALES, 2020-2022* ($MILLION)
FIGURE 27. EXL SERVICE: REVENUE SHARE, BY SEGMENT, 2022 (%)
FIGURE 28. EXL SERVICE: REVENUE SHARE, BY GEOGRAPHY, 2022 (%)
FIGURE 29. CMS INFORMATION SERVICES PVT. LTD.: NET SALES, 2020-2022* ($MILLION)
FIGURE 30. CMS INFORMATION SERVICES PVT. LTD.: REVENUE SHARE, BY SEGMENT, 2022 (%)
FIGURE 31. CMS INFORMATION SERVICES PVT. LTD.: REVENUE SHARE, BY GEOGRAPHY, 2022 (%)
FIGURE 32. BAJAJ ALLIANZ GENERAL INSURANCE CO. LTD.: NET SALES, 2020-2022* ($MILLION)
FIGURE 33. BAJAJ ALLIANZ GENERAL INSURANCE CO. LTD.: REVENUE SHARE, BY SEGMENT, 2022 (%)
FIGURE 34. BAJAJ ALLIANZ GENERAL INSURANCE CO. LTD.: REVENUE SHARE, BY GEOGRAPHY, 2022 (%)
FIGURE 35. INFOSYS BPO: NET SALES, 2020-2022* ($MILLION)
FIGURE 36. INFOSYS BPO: REVENUE SHARE, BY SEGMENT, 2022 (%)
FIGURE 37. INFOSYS BPO: REVENUE SHARE, BY GEOGRAPHY, 2022 (%)
FIGURE 38. MPHASIS BPO: NET SALES, 2020-2022* ($MILLION)
FIGURE 39. MPHASIS BPO: REVENUE SHARE, BY SEGMENT, 2022 (%)
FIGURE 40. MPHASIS BPO: REVENUE SHARE, BY GEOGRAPHY, 2022 (%)
FIGURE 41. ALLSEC TECHNOLOGIES: NET SALES, 2020-2022* ($MILLION)
FIGURE 42. ALLSEC TECHNOLOGIES: REVENUE SHARE, BY SEGMENT, 2022 (%)
FIGURE 43. ALLSEC TECHNOLOGIES: REVENUE SHARE, BY GEOGRAPHY, 2022 (%)
FIGURE 44. FIRSTSOURCE SOLUTIONS: NET SALES, 2020-2022* ($MILLION)
FIGURE 45. FIRSTSOURCE SOLUTIONS: REVENUE SHARE, BY SEGMENT, 2022 (%)
FIGURE 46. FIRSTSOURCE SOLUTIONS: REVENUE SHARE, BY GEOGRAPHY, 2022 (%)
FIGURE 47. TCS BPO: NET SALES, 2020-2022* ($MILLION)
FIGURE 48. TCS BPO: REVENUE SHARE, BY SEGMENT, 2022 (%)
FIGURE 49. TCS BPO: REVENUE SHARE, BY GEOGRAPHY, 2022 (%)

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