While insurers face numerous challenges in making business process outsourcing (BPO) work, many expect their company's use of BPO to remain level or increase in 2011.
Analysts at Celent are beginning to see signs that core systems BPO and Software-as-a-Service (SaaS) is heating up. According to the financial research and consulting firm’s recent report, “Approaching the Boiling Point: BPO, SaaS in Insurance,” in the current economy, competitive pressures will continue to drive insurers to seek solutions that balance reduced costs, high service quality and well-managed delivery risk. “We expect that the first wave of strong movers into core systems BPO and/or a SaaS model for core systems will gain competitive momentum that will be difficult to copy,” the report states.
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