Europe insurance BPO services market was valued at $5,578.2 million in 2022 and will grow by 5.3% annually over 2022-2032, driven by the increasing importance of insurance BPO service, rising trends in the contract values of insurance BPO providers, growing digitalization and increased demand for high-quality services at a lower cost, a rising adoption of cloud-based solutions & increasing demand for specialized solutions by BPOs, and an increasing customer demand for best-in-class insurance service.
Highlighted with 35 tables and 56 figures, this 115-page report “Europe Insurance BPO Services Market 2022-2032 by Service Type, Insurance Type, Operation, Deployment Type, Application, Organization Size, and Country: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire Europe insurance BPO services market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2020-2022 and provides forecast from 2023 till 2032 with 2022 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The trend and outlook of Europe market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify Europe insurance BPO services market in every aspect of the classification from perspectives of Service Type, Insurance Type, Operation, Deployment Type, Application, Organization Size, and Country.
Based on Service Type, the Europe market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Human Resource Outsourcing Services
• IT Services
• Underwriting Services
• Customer Care Services
• Finance and Accounting Services
Based on Insurance Type, the Europe market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Life and Annuity Insurance
• Property and Casualty Insurance
By Operation, the Europe market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• Claims Management
• Administration
• Asset Management
• Development
• Marketing
• Other Operations
By Deployment Type, the Europe market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• On-Premises
• Cloud-based
By Application, the Europe market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• BFSI
• Healthcare
• Manufacturing
• Retail
• IT & Telecom
• Other Applications
By Organization Size, the Europe market is segmented into the following sub-markets with annual revenue ($ mn) for 2022-2032 included in each section.
• SMEs
• Large Enterprises
Geographically, the following national/local markets are fully investigated:
• Germany
• UK
• France
• Spain
• Italy
• Netherlands
• Rest of Europe (further segmented into Russia, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
For each key country, detailed analysis and data for annual revenue ($ mn) are available for 2022-2032. The breakdown of national markets by Service Type, Insurance Type, and Application over the forecast years are also included.
The report also covers the current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Selected Key Players:
Accenture PLC
Cogneesol
Cognizant Technology Solutions Corporation
Dell Technologies, Inc.
DXC Technology Company
EXL Service Holdings, Inc.
Genpact Limited
HCL Technologies Limited
Infosys Limited
Mphasis Limited
Syntel
Water Street Company
Wipro Limited
WNS Europe Services Private Limited
(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
1 Introduction 7
1.1 Industry Definition and Research Scope 7
1.1.1 Industry Definition 7
1.1.2 Research Scope 8
1.2 Research Methodology 11
1.2.1 Overview of Market Research Methodology 11
1.2.2 Market Assumption 12
1.2.3 Secondary Data 12
1.2.4 Primary Data 12
1.2.5 Data Filtration and Model Design 13
1.2.6 Market Size/Share Estimation 14
1.2.7 Research Limitations 15
1.3 Executive Summary 16
2 Market Overview and Dynamics 19
2.1 Market Size and Forecast 19
2.1.1 Impact of COVID-19 on World Economy 20
2.1.2 Impact of COVID-19 on the Market 23
2.1.3 Impact of Russia-Ukraine Conflict: War Slows Economic Recovery 25
2.2 Major Growth Drivers 29
2.3 Market Restraints and Challenges 33
2.4 Emerging Opportunities and Market Trends 36
2.5 Porter’s Fiver Forces Analysis 40
3 Segmentation of Europe Market by Service Type 44
3.1 Market Overview by Service Type 44
3.2 Human Resource Outsourcing Services 46
3.3 IT Services 47
3.4 Underwriting Services 48
3.5 Customer Care Services 49
3.6 Finance and Accounting Services 50
4 Segmentation of Europe Market by Insurance Type 51
4.1 Market Overview by Insurance Type 51
4.2 Life and Annuity Insurance 53
4.3 Property and Casualty Insurance 54
5 Segmentation of Europe Market by Operation 55
5.1 Market Overview by Operation 55
5.2 Claims Management 57
5.3 Administration 58
5.4 Asset Management 59
5.5 Development 60
5.6 Marketing 61
5.7 Other Operations 62
6 Segmentation of Europe Market by Deployment Type 63
6.1 Market Overview by Deployment Type 63
6.2 On-Premises 65
6.3 Cloud-based 66
7 Segmentation of Europe Market by Application 67
7.1 Market Overview by Application 67
7.2 BFSI 69
7.3 Healthcare 70
7.4 Manufacturing 71
7.5 Retail 72
7.6 IT & Telecom 73
7.7 Other Applications 74
8 Segmentation of Europe Market by Organization Size 75
8.1 Market Overview by Organization Size 75
8.2 SMEs 77
8.3 Large Enterprises 78
9 European Market 2022-2032 by Country 79
9.1 Overview of European Market 79
9.2 Germany 82
9.3 U.K. 84
9.4 France 86
9.5 Spain 88
9.6 Italy 90
9.7 Netherlands 92
9.8 Rest of European Market 94
10 Competitive Landscape 96
10.1 Overview of Key Vendors 96
10.2 New Product Launch, Partnership, Investment, and M&A 99
10.3 Company Profiles 100
Accenture PLC 100
Cogneesol 102
Cognizant Technology Solutions Corporation 103
Dell Technologies, Inc. 104
DXC Technology Company 105
EXL Service Holdings, Inc. 106
Genpact Limited 107
HCL Technologies Limited 108
Infosys Limited 109
Mphasis Limited 110
Syntel 111
Water Street Company 112
Wipro Limited 113
WNS Europe Services Private Limited 114
RELATED REPORTS 115
List of Tables:
Table 1. Snapshot of Europe Insurance BPO Services Market in Balanced Perspective, 2022-2032 17
Table 2. World Economic Outlook, 2021-2031 21
Table 3. World Economic Outlook, 2021-2023 22
Table 4. Scenarios for Economic Impact of Ukraine Crisis 26
Table 5. Worldwide Insurance Market, 2022-2032, $ bn 31
Table 6. Main Product Trends and Market Opportunities in Europe Insurance BPO Services Market 36
Table 7. Europe Insurance BPO Services Market by Service Type, 2022-2032, $ mn 44
Table 8. Europe Insurance BPO Services Market by Insurance Type, 2022-2032, $ mn 51
Table 9. Europe Insurance BPO Services Market by Operation, 2022-2032, $ mn 55
Table 10. Europe Insurance BPO Services Market by Deployment Type, 2022-2032, $ mn 63
Table 11. Europe Insurance BPO Services Market by Application, 2022-2032, $ mn 67
Table 12. Europe Insurance BPO Services Market by Organization Size, 2022-2032, $ mn 75
Table 13. Europe Insurance BPO Services Market by Country, 2022-2032, $ mn 81
Table 14. Germany Insurance BPO Services Market by Service Type, 2022-2032, $ mn 83
Table 15. Germany Insurance BPO Services Market by Insurance Type, 2022-2032, $ mn 83
Table 16. Germany Insurance BPO Services Market by Application, 2022-2032, $ mn 83
Table 17. U.K. Insurance BPO Services Market by Service Type, 2022-2032, $ mn 85
Table 18. U.K. Insurance BPO Services Market by Insurance Type, 2022-2032, $ mn 85
Table 19. U.K. Insurance BPO Services Market by Application, 2022-2032, $ mn 85
Table 20. France Insurance BPO Services Market by Service Type, 2022-2032, $ mn 87
Table 21. France Insurance BPO Services Market by Insurance Type, 2022-2032, $ mn 87
Table 22. France Insurance BPO Services Market by Application, 2022-2032, $ mn 87
Table 23. Spain Insurance BPO Services Market by Service Type, 2022-2032, $ mn 89
Table 24. Spain Insurance BPO Services Market by Insurance Type, 2022-2032, $ mn 89
Table 25. Spain Insurance BPO Services Market by Application, 2022-2032, $ mn 89
Table 26. Italy Insurance BPO Services Market by Service Type, 2022-2032, $ mn 91
Table 27. Italy Insurance BPO Services Market by Insurance Type, 2022-2032, $ mn 91
Table 28. Italy Insurance BPO Services Market by Application, 2022-2032, $ mn 91
Table 29. Netherlands Insurance BPO Services Market by Service Type, 2022-2032, $ mn 93
Table 30. Netherlands Insurance BPO Services Market by Insurance Type, 2022-2032, $ mn 93
Table 31. Netherlands Insurance BPO Services Market by Application, 2022-2032, $ mn 93
Table 32. Insurance BPO Services Market in Rest of Europe by Country, 2022-2032, $ mn 95
Table 33. Accenture PLC: Company Snapshot 100
Table 34. Accenture PLC: Business Segmentation 101
Table 35. Accenture PLC: Product Portfolio 101
