Asia Pacific Insurance BPO Services Market 2022-2032 by Service Type, Insurance Type, Operation, Deployment Type, Application, Organization Size, and Country: Trend Forecast and Growth Opportunity

April 2023 | 114 pages | ID: A3FBACFD58E1EN
GMD Research

Abstracts

Asia Pacific insurance BPO services market will grow by 10.3% annually with a total addressable market cap of $31,427.9 million over 2023-2032, 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 32 tables and 55 figures, this 114-page report “Asia Pacific 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 Asia Pacific 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 Asia Pacific 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 Asia Pacific 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 Asia Pacific 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 Asia Pacific 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 Asia Pacific 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 Asia Pacific 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 Asia Pacific 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 Asia Pacific 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:

• Japan
• China
• South Korea
• Australia
• India
• Rest of APAC (further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)

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 CorporationDell 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 Asia Pacific 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.)

Contents

1 INTRODUCTION

1.1 Industry Definition and Research Scope
  1.1.1 Industry Definition
  1.1.2 Research Scope
1.2 Research Methodology
  1.2.1 Overview of Market Research Methodology
  1.2.2 Market Assumption
  1.2.3 Secondary Data
  1.2.4 Primary Data
  1.2.5 Data Filtration and Model Design
  1.2.6 Market Size/Share Estimation
  1.2.7 Research Limitations
1.3 Executive Summary

2 MARKET OVERVIEW AND DYNAMICS

2.1 Market Size and Forecast
  2.1.1 Impact of COVID-19 on World Economy
  2.1.2 Impact of COVID-19 on the Market
  2.1.3 Impact of Russia-Ukraine Conflict: War Slows Economic Recovery
2.2 Major Growth Drivers
2.3 Market Restraints and Challenges
2.4 Emerging Opportunities and Market Trends
2.5 Porter’s Fiver Forces Analysis

3 SEGMENTATION OF ASIA PACIFIC MARKET BY SERVICE TYPE

3.1 Market Overview by Service Type
3.2 Human Resource Outsourcing Services
3.3 IT Services
3.4 Underwriting Services
3.5 Customer Care Services
3.6 Finance and Accounting Services

4 SEGMENTATION OF ASIA PACIFIC MARKET BY INSURANCE TYPE

4.1 Market Overview by Insurance Type
4.2 Life and Annuity Insurance
4.3 Property and Casualty Insurance

5 SEGMENTATION OF ASIA PACIFIC MARKET BY OPERATION

5.1 Market Overview by Operation
5.2 Claims Management
5.3 Administration
5.4 Asset Management
5.5 Development
5.6 Marketing
5.7 Other Operations

6 SEGMENTATION OF ASIA PACIFIC MARKET BY DEPLOYMENT TYPE

6.1 Market Overview by Deployment Type
6.2 On-Premises
6.3 Cloud-based

7 SEGMENTATION OF ASIA PACIFIC MARKET BY APPLICATION

7.1 Market Overview by Application
7.2 BFSI
7.3 Healthcare
7.4 Manufacturing
7.5 Retail
7.6 IT & Telecom
7.7 Other Applications

8 SEGMENTATION OF ASIA PACIFIC MARKET BY ORGANIZATION SIZE

8.1 Market Overview by Organization Size
8.2 SMEs
8.3 Large Enterprises

9 ASIA-PACIFIC MARKET 2022-2032 BY COUNTRY

9.1 Overview of Asia-Pacific Market
9.2 Japan
9.3 China
9.4 Australia
9.5 India
9.6 South Korea
9.7 Rest of APAC Region

10 COMPETITIVE LANDSCAPE

10.1 Overview of Key Vendors
10.2 New Product Launch, Partnership, Investment, and M&A
10.3 Company Profiles
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 Asia Pacific Services Private Limited
RELATED REPORTS

List Of Tables

LIST OF TABLES:

Table 1. Snapshot of Asia Pacific Insurance BPO Services Market in Balanced Perspective, 2022-2032
Table 2. World Economic Outlook, 2021-2031
Table 3. World Economic Outlook, 2021-2023
Table 4. Scenarios for Economic Impact of Ukraine Crisis
Table 5. Worldwide Insurance Market, 2022-2032, $ bn
Table 6. Main Product Trends and Market Opportunities in Asia Pacific Insurance BPO Services Market
Table 7. Asia Pacific Insurance BPO Services Market by Service Type, 2022-2032, $ mn
Table 8. Asia Pacific Insurance BPO Services Market by Insurance Type, 2022-2032, $ mn
Table 9. Asia Pacific Insurance BPO Services Market by Operation, 2022-2032, $ mn
Table 10. Asia Pacific Insurance BPO Services Market by Deployment Type, 2022-2032, $ mn
Table 11. Asia Pacific Insurance BPO Services Market by Application, 2022-2032, $ mn
Table 12. Asia Pacific Insurance BPO Services Market by Organization Size, 2022-2032, $ mn
Table 13. APAC Insurance BPO Services Market by Country, 2022-2032, $ mn
Table 14. Japan Insurance BPO Services Market by Service Type, 2022-2032, $ mn
Table 15. Japan Insurance BPO Services Market by Insurance Type, 2022-2032, $ mn
Table 16. Japan Insurance BPO Services Market by Application, 2022-2032, $ mn
Table 17. China Insurance BPO Services Market by Service Type, 2022-2032, $ mn
Table 18. China Insurance BPO Services Market by Insurance Type, 2022-2032, $ mn
Table 19. China Insurance BPO Services Market by Application, 2022-2032, $ mn
Table 20. Australia Insurance BPO Services Market by Service Type, 2022-2032, $ mn
Table 21. Australia Insurance BPO Services Market by Insurance Type, 2022-2032, $ mn
Table 22. Australia Insurance BPO Services Market by Application, 2022-2032, $ mn
Table 23. India Insurance BPO Services Market by Service Type, 2022-2032, $ mn
Table 24. India Insurance BPO Services Market by Insurance Type, 2022-2032, $ mn
Table 25. India Insurance BPO Services Market by Application, 2022-2032, $ mn
Table 26. South Korea Insurance BPO Services Market by Service Type, 2022-2032, $ mn
Table 27. South Korea Insurance BPO Services Market by Insurance Type, 2022-2032, $ mn
Table 28. South Korea Insurance BPO Services Market by Application, 2022-2032, $ mn
Table 29. Insurance BPO Services Market in Rest of APAC by Country/Region, 2022-2032, $ mn
Table 30. Accenture PLC: Company Snapshot
Table 31. Accenture PLC: Business Segmentation
Table 32. Accenture PLC: Product Portfolio

List Of Figures

LIST OF FIGURES:

Figure 1. Research Method Flow Chart
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation
Figure 3. Asia Pacific Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2022-2032
Figure 4. Asia Pacific Insurance BPO Services Market, 2022-2032, $ mn
Figure 5. Impact of COVID-19 on Business
Figure 6. Primary Drivers and Impact Factors of Asia Pacific Insurance BPO Services Market
Figure 7. GDP per capita in the World, 1990-2020, $ thousand
Figure 8. Forecast of World Middle-class Population by Region, 2015-2030, million
Figure 9. Primary Restraints and Impact Factors of Asia Pacific Insurance BPO Services Market
Figure 10. Investment Opportunity Analysis
Figure 11. Porter’s Fiver Forces Analysis of Asia Pacific Insurance BPO Services Market
Figure 12. Breakdown of Asia Pacific Insurance BPO Services Market by Service Type, 2022-2032, % of Revenue
Figure 13. Asia Pacific Addressable Market Cap in 2023-2032 by Service Type, Value ($ mn) and Share (%)
Figure 14. Asia Pacific Insurance BPO Services Market by Service Type: Human Resource Outsourcing Services, 2022-2032, $ mn
Figure 15. Asia Pacific Insurance BPO Services Market by Service Type: IT Services, 2022-2032, $ mn
Figure 16. Asia Pacific Insurance BPO Services Market by Service Type: Underwriting Services, 2022-2032, $ mn
Figure 17. Asia Pacific Insurance BPO Services Market by Service Type: Customer Care Services, 2022-2032, $ mn
Figure 18. Asia Pacific Insurance BPO Services Market by Service Type: Finance and Accounting Services, 2022-2032, $ mn
Figure 19. Breakdown of Asia Pacific Insurance BPO Services Market by Insurance Type, 2022-2032, % of Sales Revenue
Figure 20. Asia Pacific Addressable Market Cap in 2023-2032 by Insurance Type, Value ($ mn) and Share (%)
Figure 21. Asia Pacific Insurance BPO Services Market by Insurance Type: Life and Annuity Insurance, 2022-2032, $ mn
Figure 22. Asia Pacific Insurance BPO Services Market by Insurance Type: Property and Casualty Insurance, 2022-2032, $ mn
Figure 23. Breakdown of Asia Pacific Insurance BPO Services Market by Operation, 2022-2032, % of Sales Revenue
Figure 24. Asia Pacific Addressable Market Cap in 2023-2032 by Operation, Value ($ mn) and Share (%)
Figure 25. Asia Pacific Insurance BPO Services Market by Operation: Claims Management, 2022-2032, $ mn
Figure 26. Asia Pacific Insurance BPO Services Market by Operation: Administration, 2022-2032, $ mn
Figure 27. Asia Pacific Insurance BPO Services Market by Operation: Asset Management, 2022-2032, $ mn
Figure 28. Asia Pacific Insurance BPO Services Market by Operation: Development, 2022-2032, $ mn
Figure 29. Asia Pacific Insurance BPO Services Market by Operation: Marketing, 2022-2032, $ mn
Figure 30. Asia Pacific Insurance BPO Services Market by Operation: Other Operations, 2022-2032, $ mn
Figure 31. Breakdown of Asia Pacific Insurance BPO Services Market by Deployment Type, 2022-2032, % of Revenue
Figure 32. Asia Pacific Addressable Market Cap in 2023-2032 by Deployment Type, Value ($ mn) and Share (%)
Figure 33. Asia Pacific Insurance BPO Services Market by Deployment Type: On-Premises, 2022-2032, $ mn
Figure 34. Asia Pacific Insurance BPO Services Market by Deployment Type: Cloud-based, 2022-2032, $ mn
Figure 35. Breakdown of Asia Pacific Insurance BPO Services Market by Application, 2022-2032, % of Revenue
Figure 36. Asia Pacific Addressable Market Cap in 2023-2032 by Application, Value ($ mn) and Share (%)
Figure 37. Asia Pacific Insurance BPO Services Market by Application: BFSI, 2022-2032, $ mn
Figure 38. Asia Pacific Insurance BPO Services Market by Application: Healthcare, 2022-2032, $ mn
Figure 39. Asia Pacific Insurance BPO Services Market by Application: Manufacturing, 2022-2032, $ mn
Figure 40. Asia Pacific Insurance BPO Services Market by Application: Retail, 2022-2032, $ mn
Figure 41. Asia Pacific Insurance BPO Services Market by Application: IT & Telecom, 2022-2032, $ mn
Figure 42. Asia Pacific Insurance BPO Services Market by Application: Other Applications, 2022-2032, $ mn
Figure 43. Breakdown of Asia Pacific Insurance BPO Services Market by Organization Size, 2022-2032, % of Revenue
Figure 44. Asia Pacific Addressable Market Cap in 2023-2032 by Organization Size, Value ($ mn) and Share (%)
Figure 45. Asia Pacific Insurance BPO Services Market by Organization Size: SMEs, 2022-2032, $ mn
Figure 46. Asia Pacific Insurance BPO Services Market by Organization Size: Large Enterprises, 2022-2032, $ mn
Figure 47. Breakdown of APAC Insurance BPO Services Market by Country, 2022 and 2032, % of Revenue
Figure 48. Contribution to APAC 2023-2032 Cumulative Market by Country, Value ($ mn) and Share (%)
Figure 49. Insurance BPO Services Market in Japan, 2022-2032, $ mn
Figure 50. Insurance BPO Services Market in China, 2022-2032, $ mn
Figure 51. Insurance BPO Services Market in Australia, 2022-2032, $ mn
Figure 52. Insurance BPO Services Market in India, 2022-2032, $ mn
Figure 53. Insurance BPO Services Market in South Korea, 2022-2032, $ mn
Figure 54. Insurance BPO Services Market in Rest of APAC, 2022-2032, $ mn
Figure 55. Growth Stage of Asia Pacific Insurance BPO Services Industry over the Forecast Period