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IT Application Outsourcing (AO) in Insurance - Service Provider Profile Compendium
11 Jan 2013
by
Jimit Arora
INTRODUCTION
The BFSI industry continues to be the largest adopter of the IT Application Outsourcing (AO) services. However, the industry dynamics have changed significantly over the last 12 to 24 months. BFSI buyers are facing increasing pressure to drive top-line growth, manage complexity arising out of wide-scale regulatory reforms, and improve profitability by driving greater cost efficiencies. To achieve this, buyers are focusing on optimizing their portfolios of AO service providers.
At the same time, service providers in the BFSI-AO space also ramped up their capabilities, built up scale, and invested in developing and acquiring IP/proprietary solutions. They also formed alliances that allow them to undertake and deliver on large-sized, annuity AO engagements. The competitive intensity in the BFSI AO services space is at an all-time high. As a result, it is becoming difficult to differentiate service providers purely based on delivery capability. It is, therefore, critical to have a comprehensive, well-rounded, and fact-based assessment of service providers’ BFSI-AO value proposition.
In this report, we present detailed profiles of the 20 service providers featured on the insurance AO PEAK Matrix. Each service provider profile provides a comprehensive picture of the specific provider’s service suite, scale of operations, domain investments, and delivery locations. In this report, we focus on:
- The landscape of service providers for insurance AO
- Assessment of service providers on a number of capability-related dimensions
- Characteristics of Leaders, Major Contenders, and Emerging Players on Everest Group insurance AO PEAK Matrix
- 2012 “Star Performers”, that is, providers with the strongest forward movement over time – both in terms of market success and capability advancements
- Implications for insurance and service providers
SCOPE
This report includes detailed profiles of the following 20 service providers:
- Insurance AO PEAK Leaders: Accenture, Cognizant, CSC, IBM GS, and TCS
- Insurance AO PEAK Major Contenders: Capgemini, CGI, HCL, HPES, iGate, Infosys, L&T Infotech, MindTree, MphasiS, Syntel, and Wipro
- Insurance AO PEAK Emerging Players: Hexaware, Mahindra Satyam, Softtek, and Unisys
CONTENTS
Each profile covers the following aspects for each featured service provider:
- General overview of the provider’s business, services, clients, and financials
- Highlights of the provider’s assessment across the PEAK dimensions – scale, scope, domain investments, delivery footprint, and market success
- The provider’s insurance AO-related domain investments, including proprietary solutions, acquisitions, alliances, and partnerships
- Publicly-announced transaction activity by the provider in the insurance AO domain during 2009-2012
- AO delivery footprint of the provider in offshore location
Page Count: 162
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Note: this report is from 2012. See our most recent R2R research report.
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