ISG to Publish Report on Insurance BPO, ITO Services
July 15 2022 - 9:00AM
Business Wire
Upcoming ISG Provider Lens™ report will
evaluate providers of services that help insurance organizations
improve, optimize and grow their business through
technology
Information Services Group (ISG) (Nasdaq: III), a leading global
technology research and advisory firm, has launched a research
study examining providers of services that are enabling a growing
number of insurance organizations to modernize their operations for
better business outcomes.
The study results will be published in a comprehensive ISG
Provider Lens™ report, called Insurance Services 2022 — BPO and
ITO, scheduled to be released in November. The report will cover
companies offering services including business process outsourcing
(BPO), information technology outsourcing (ITO),
business-process-as-a-service (BPaaS) and third-party
administration (TPA).
Enterprise buyers will be able to use information from the
report to evaluate their current vendor relationships, potential
new engagements and available offerings, while ISG advisors use the
information to recommend providers to the firm’s buy-side
clients.
Many insurance organizations are adopting advanced technologies
to modernize services, improve customer experience and grow in a
cost-effective way. They are implementing technologies including
intelligent automation, straight-through processing (STP), AI and
machine learning, often migrating from legacy systems to cloud
platforms to enable digital transformation.
“More insurance companies are now working with outsourcing and
technology providers to enhance their capabilities,” said Jan Erik
Aase, partner and global leader, ISG Provider Lens Research. “Many
are forming long-term, mutually beneficial partnerships with
providers to become more competitive.”
ISG has distributed surveys to more than 60 insurance services
providers. Working in collaboration with ISG’s global advisors, the
research team will produce four quadrants representing the digital
services and products the typical insurance enterprise is buying,
based on ISG’s experience working with its clients. The four
quadrants are:
- Life & Retirement Insurance BPO Services, evaluating
outsourcing services such as consulting, technology enablement,
policy administration and managed services for providers of
insurance types such as life insurance, annuities and supplemental
benefits.
- Property & Casualty Insurance BPO Services,
assessing outsourcing services for insurance coverage areas
including auto, theft, property and natural catastrophe.
- BPaaS and TPA Insurance Services, evaluating providers
of BPO and ITO services bundled into a comprehensive service,
typically through a licensed provider or third-party
administrator.
- Insurance ITO Services, covering both traditional and
more modern IT services, including technology support and business
transformation programs to improve profitability, optimize costs
and enhance customer experience.
Geographically focused reports from the study will cover the
global insurance services market and examine products and services
available in the U.S., Australia, and U.K. and Europe. ISG analysts
Ashish Jhajharia, Angus Macaskill, Jocelyn Cheung and Sandhya Hari
Navage will serve as authors of the report.
An archetype report will also be published as part of this
study. This report, unique to ISG, is the study of typical buyer
types of contact center services as observed by ISG advisors.
A list of identified providers and vendors and further details
on the study are available in this digital brochure. Companies not
listed as insurance services providers can contact ISG and ask to
be included in the study.
All 2022 ISG Provider Lens™ evaluations now feature new and
expanded customer experience (CX) data that measures actual
enterprise experience with specific provider services and
solutions, based on ISG’s continuous CX research. Enterprise
customers wishing to share their experience about a specific
provider or vendor are encouraged to register here to receive a
personalized survey URL. Participants will receive a copy of this
report in return for their feedback.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only
service provider evaluation of its kind to combine empirical,
data-driven research and market analysis with the real-world
experience and observations of ISG's global advisory team.
Enterprises will find a wealth of detailed data and market analysis
to help guide their selection of appropriate sourcing partners,
while ISG advisors use the reports to validate their own market
knowledge and make recommendations to ISG's enterprise clients. The
research currently covers providers offering their services
globally, across Europe, as well as in the U.S., Canada, Brazil,
the U.K., France, Benelux, Germany, Switzerland, the Nordics,
Australia and Singapore/Malaysia, with additional markets to be
added in the future. For more information about ISG Provider Lens
research, please visit this webpage.
A companion research series, the ISG Provider Lens Archetype
reports, offer a first-of-its-kind evaluation of providers from the
perspective of specific buyer types.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading
global technology research and advisory firm. A trusted business
partner to more than 800 clients, including more than 75 of the
world’s top 100 enterprises, ISG is committed to helping
corporations, public sector organizations, and service and
technology providers achieve operational excellence and faster
growth. The firm specializes in digital transformation services,
including automation, cloud and data analytics; sourcing advisory;
managed governance and risk services; network carrier services;
strategy and operations design; change management; market
intelligence and technology research and analysis. Founded in 2006,
and based in Stamford, Conn., ISG employs more than 1,300
digital-ready professionals operating in more than 20 countries—a
global team known for its innovative thinking, market influence,
deep industry and technology expertise, and world-class research
and analytical capabilities based on the industry’s most
comprehensive marketplace data. For more information, visit
www.isg-one.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220715005273/en/
Press Contacts:
Will Thoretz, ISG +1 203 517 3119 will.thoretz@isg-one.com
Julianna Sheridan, Matter Communications for ISG +1 978-518-4520
isg@matternow.com
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