BPO for the Life/Pension Market in the UK: A Growing Niche
| New York, NY, USA December 16, 2004
Celent projects that spending on policy processing BPO will grow from GBP 175 million today to GBP 350 million by the end of 2008.
Change has become constant in the life/pension market in the UK. BPO vendors are aiming to help life/ pension providers adapt to those changes. BPO for life/pension providers promises to be a red-hot market over the next five years.In a new report, BPO for the Life/Pensions Market in the UK: A Growing Niche, Celent examines the changes in the UK market and regulatory environment that are driving life/pension providers to purchase BPO services for policy administration, and briefly profiles six BPO providers currently being used at life/pension providers. Vendors profiled in the report are Capita, CSC, Liberata, Marlborough Stirling, Sapiens/EDS, and Unisys.
"This market is ripe for significant growth," saysChad Hersh, a senior analyst in Celent痴 insurance practice and author of the report. "Many factors, like the changes to the polarization scheme, the Sandler Review, and A-Day, are contributing to a need to improve margins and flexibility.
"In a few years, the economies of scale achieved by BPO providers will drive down costs and make it difficult to say no to outsourcing, particularly for run-off business," adds Hersh.
The 17-page report contains two figures and two tables. Atable of contents is available online.
of Celent Communications' Life/Health Insurance research service can download the report electronically by clicking on the icon to the left. Non-members should contact email@example.com for more information.