Capita works with its clients as a strategic partner,
helping them rise to the insurance industry's
challenging operating and economic environment.
We establish strategic partnerships with clients to
introduce low-risk service improvement, business
transformation and revenue enhancement, and
establish effective processes to satisfy complex
regulation. We also help market entrants to build
their infrastructure and operational delivery.
Conditions for the insurance industry remain tough.
Although the full impact of turmoil in the financial
markets is still unclear, it is likely to exacerbate
pressures and drive further industry change.
Given its cost and flexibility benefits, outsourcing
may well begin to play a larger role in this market.
Drivers for outsourcing include:
- Structural change as organisations strive to
compete more effectively and manage the impact
of the financial market turmoil: increasingly, they
look to outsourcing to deliver 'end-to-end' and
specialised insurance solutions – as well as to
manage non-core services and operations
- Pressure to cut operating costs, improve efficiency
and enhance customer service
- Increased regulatory requirements
- Dramatic shifts in consumer expectations, pricing
and service delivery due to the rapid growth of
internet sales and industry consolidation
- Importance of bringing new products to
market faster
- Need to improve management of claims costs, in
particular through fraud and leakage prevention
- Customer demand for more transparency,
information, flexibility and value.
9% annual growth to 2012 estimated by industry analysts*