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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

Published: 30 Apr 2023 | Report Code: 10249033 | Pages: 115

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.)

Table of Contents:
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
List of Figures:

Figure 1. Research Method Flow Chart	11
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation	14
Figure 3. Europe Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2022-2032	16
Figure 4. Europe Insurance BPO Services Market, 2022-2032, $ mn	19
Figure 5. Impact of COVID-19 on Business	23
Figure 6. Primary Drivers and Impact Factors of Europe Insurance BPO Services Market	29
Figure 7. GDP per capita in the World, 1990-2020, $ thousand	32
Figure 8. Forecast of World Middle-class Population by Region, 2015-2030, million	32
Figure 9. Primary Restraints and Impact Factors of Europe Insurance BPO Services Market	33
Figure 10. Investment Opportunity Analysis	37
Figure 11. Porter’s Fiver Forces Analysis of Europe Insurance BPO Services Market	40
Figure 12. Breakdown of Europe Insurance BPO Services Market by Service Type, 2022-2032, % of Revenue	45
Figure 13. Europe Addressable Market Cap in 2023-2032 by Service Type, Value ($ mn) and Share (%)	45
Figure 14. Europe Insurance BPO Services Market by Service Type: Human Resource Outsourcing Services, 2022-2032, $ mn	46
Figure 15. Europe Insurance BPO Services Market by Service Type: IT Services, 2022-2032, $ mn	47
Figure 16. Europe Insurance BPO Services Market by Service Type: Underwriting Services, 2022-2032, $ mn	48
Figure 17. Europe Insurance BPO Services Market by Service Type: Customer Care Services, 2022-2032, $ mn	49
Figure 18. Europe Insurance BPO Services Market by Service Type: Finance and Accounting Services, 2022-2032, $ mn	50
Figure 19. Breakdown of Europe Insurance BPO Services Market by Insurance Type, 2022-2032, % of Sales Revenue	52
Figure 20. Europe Addressable Market Cap in 2023-2032 by Insurance Type, Value ($ mn) and Share (%)	52
Figure 21. Europe Insurance BPO Services Market by Insurance Type: Life and Annuity Insurance, 2022-2032, $ mn	53
Figure 22. Europe Insurance BPO Services Market by Insurance Type: Property and Casualty Insurance, 2022-2032, $ mn	54
Figure 23. Breakdown of Europe Insurance BPO Services Market by Operation, 2022-2032, % of Sales Revenue	56
Figure 24. Europe Addressable Market Cap in 2023-2032 by Operation, Value ($ mn) and Share (%)	56
Figure 25. Europe Insurance BPO Services Market by Operation: Claims Management, 2022-2032, $ mn	57
Figure 26. Europe Insurance BPO Services Market by Operation: Administration, 2022-2032, $ mn	58
Figure 27. Europe Insurance BPO Services Market by Operation: Asset Management, 2022-2032, $ mn	59
Figure 28. Europe Insurance BPO Services Market by Operation: Development, 2022-2032, $ mn	60
Figure 29. Europe Insurance BPO Services Market by Operation: Marketing, 2022-2032, $ mn	61
Figure 30. Europe Insurance BPO Services Market by Operation: Other Operations, 2022-2032, $ mn	62
Figure 31. Breakdown of Europe Insurance BPO Services Market by Deployment Type, 2022-2032, % of Revenue	64
Figure 32. Europe Addressable Market Cap in 2023-2032 by Deployment Type, Value ($ mn) and Share (%)	64
Figure 33. Europe Insurance BPO Services Market by Deployment Type: On-Premises, 2022-2032, $ mn	65
Figure 34. Europe Insurance BPO Services Market by Deployment Type: Cloud-based, 2022-2032, $ mn	66
Figure 35. Breakdown of Europe Insurance BPO Services Market by Application, 2022-2032, % of Revenue	68
Figure 36. Europe Addressable Market Cap in 2023-2032 by Application, Value ($ mn) and Share (%)	68
Figure 37. Europe Insurance BPO Services Market by Application: BFSI, 2022-2032, $ mn	69
Figure 38. Europe Insurance BPO Services Market by Application: Healthcare, 2022-2032, $ mn	70
Figure 39. Europe Insurance BPO Services Market by Application: Manufacturing, 2022-2032, $ mn	71
Figure 40. Europe Insurance BPO Services Market by Application: Retail, 2022-2032, $ mn	72
Figure 41. Europe Insurance BPO Services Market by Application: IT & Telecom, 2022-2032, $ mn	73
Figure 42. Europe Insurance BPO Services Market by Application: Other Applications, 2022-2032, $ mn	74
Figure 43. Breakdown of Europe Insurance BPO Services Market by Organization Size, 2022-2032, % of Revenue	75
Figure 44. Europe Addressable Market Cap in 2023-2032 by Organization Size, Value ($ mn) and Share (%)	76
Figure 45. Europe Insurance BPO Services Market by Organization Size: SMEs, 2022-2032, $ mn	77
Figure 46. Europe Insurance BPO Services Market by Organization Size: Large Enterprises, 2022-2032, $ mn	78
Figure 47. Breakdown of European Insurance BPO Services Market by Country, 2022 and 2032, % of Revenue	80
Figure 48. Contribution to Europe 2023-2032 Cumulative Market by Country, Value ($ mn) and Share (%)	81
Figure 49.  Insurance BPO Services Market in Germany, 2022-2032, $ mn	82
Figure 50.  Insurance BPO Services Market in U.K., 2022-2032, $ mn	84
Figure 51.  Insurance BPO Services Market in France, 2022-2032, $ mn	86
Figure 52.  Insurance BPO Services Market in Spain, 2022-2032, $ mn	88
Figure 53.  Insurance BPO Services Market in Italy, 2022-2032, $ mn	90
Figure 54.  Insurance BPO Services Market in Netherlands, 2022-2032, $ mn	92
Figure 55.  Insurance BPO Services Market in Rest of Europe, 2022-2032, $ mn	94
Figure 56. Growth Stage of Europe Insurance BPO Services Industry over the Forecast Period	96

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 Global 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.)