BPO on insurer's agenda says Datamonitor

Facing challenging market conditions, both life and non-life insurers are seeking to reduce costs and gain flexibility. Often times, however, these goals are stymied by rigid policy administration platforms, which are often built in-house.

The report, “Trends and Strategies in Policy Administration BPO”, also identified the rise of business transformation outsourcing (BTO), a long-term outsourcing contract where the outsourcer transforms the policy administration process through application