Insurance-TPA-BPO-Outsourcing-Benchmarking

Insurance Outsourcing Contracts Are Changing – It’s Time to Review Before You Renew

The insurance industry has changed dramatically over the past decade in response to increasingly stringent regulations, changing consumer preferences and falling interest rates. As the industry has been evolving, so has insurance third-party administration (TPA) and business process outsourcing (BPO). Insurance TPA/BPO pricing has gone down significantly due to rupee devaluation and robotic process automation (RPA), and insurance outsourcing contracts have become more favorable to insurance companies due to a more mature outsourcing provider market. Now is a compelling time for insurance companies to benchmark and renegotiate their existing TPA/BPO contracts.

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About the author

Dennis Winkler is a director in ISG’s business advisory services practice. He has 25-plus years of experience helping enterprises develop their business process sourcing strategy. He has worked with most large insurance companies on their BPO/TPA outsourcing strategies including advising on the two largest insurance TPA and BPO deals in U.S. history. Dennis is an author and regular speaker at conferences on the subjects of business process outsourcing, shared services, governance, RPA, innovation and business transformation.