Please Wait.....
Report
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
Market Report I 2023-04-01 I 86 Pages I Allied Market Research
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.
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
- 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
- Free Upcoming Version on the Purchase of Five and Enterprise User License.
- 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
- Free data Pack on the Five and Enterprise User License. (Excel version of the report)
- Free Updated report if the report is 6-12 months old or older.
- 24-hour priority response*
- Free Industry updates and white papers.
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
- Consumer Buying Behavior Analysis
- Product Benchmarking / Product specification and applications
- Consumer Preference and Product Specifications
- Market share analysis of players by products/segments
- New Product Development/ Product Matrix of Key Players
- Patient/epidemiology data at country, region, global level
- Regulatory Guidelines
- 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)
- Market share analysis of players at global/region/country level
- 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
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 (%)
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security