Point of View

Platform Play Features in More than Half of Insurance BPO Contracts

In 2012, we published the HfS Research Business Platform Map, looking at the level of adoption of technology across the BPO market. We captured 112 business platforms offered by 21 service providers. A follow-up report, ‘Business Platforms Heating Up In Insurance’ featured a cross-industry analysis of this data, revealing that insurance companies were the most aggressive users of platforms. Of the 112 platforms, 18% were developed and offered to insurers, a trend we predicted to continue for the medium term. Two years on, in February 2014 we published our HfS Insurance BPO Services Blueprint, evaluating the execution and innovation capabilities of 16 major service providers, including not only core insurance process delivery, but also business platform deployment for improved operations.
 
In this POV, we add some new datapoints and perspectives around insurance platform adoption gleaned from the analysis of 219 insurance BPO contracts and exhaustive insurance service provider and buyer surveys conducted during Q1 2014 for that HfS Blueprint.  

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  • Reetika Fleming | HFS Research

    Reetika Fleming Executive Research Leader

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