ISG
Insurance companies in Europe are navigating increasingly difficult business conditions with the help of service providers that understand the industry’s many challenges and partner closely with insurers, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.
The 2022 ISG Provider Lens™ Insurance Services report for Europe finds that rising claims in the early part of the COVID-19 pandemic were followed by a series of other impacts on the insurance industry, including inflation, geopolitical uncertainties, cyberattacks and property damage from climate-related disasters. Insurers in Europe and other regions now face a state of “permacrisis,” the report says.
“European insurers are facing challenging market conditions,” said Anna Medkouri, ISG partner and insurance lead in EMEA. “In addition to contending with a difficult business environment, they need better technology to adapt to new ways of working, new regulations and new consumer expectations.”
Among new, digital-native customers, preferences are shifting from commodity off-the-shelf insurance products to more personalized offerings, ISG says. Companies are working with providers to implement platforms for developing targeted products using AI and machine learning. This ongoing process requires insurers to reinvent processes, business models and even company culture, so they are seeking providers with expertise in consulting and transformation in addition to traditional BPO.
A huge skills shortage across Europe has heightened insurers’ technology challenges, the report says. Restrictions imposed through Brexit have made it harder for workers with the necessary business and technology skills to move between the U.K. and continental Europe, and most insurance companies have difficulty attracting, hiring and retaining technology talent. As a result, they are increasingly turning to BPO providers to rearchitect their workforces.
“To build new products and business models, traditional insurance companies need responsive design, swift deployment and rapid scalability,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Service providers have the knowledge and workforces to deliver those capabilities.”
The report also examines other trends affecting insurance services in Europe, including the integration of innovative startups and the gradual adoption of value-based provider contracts.
The 2022 ISG Provider Lens™ Insurance Services report for Europe evaluates the capabilities of 33 providers across three quadrants: Life and Retirement Insurance BPO Services, Property and Casualty Insurance BPO Services and Insurance ITO Services.
The report names Accenture, Cognizant and TCS as Leaders in all three quadrants. It names Genpact, Infosys and WNS as Leaders in two quadrants each. Atos, Capgemini, CGI, EXL, NTT DATA, Tech Mahindra and Wipro are named as Leaders in one quadrant each.
In addition, LTIMindtree, Tech Mahindra and Xceedance are named as Rising Stars — companies with a “promising portfolio” and “high future potential” by ISG’s definition — in one quadrant each.
Customized versions of the report are available from EXL, Tech Mahindra and WNS.
The 2022 ISG Provider Lens™ Insurance Services report for Europe is available to subscribers or for one-time purchase on this webpage.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.
A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230116005142/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
BitGo sikrer OCC-godkendelse til konvertering til føderalt chartret National Trust Bank13.12.2025 02:12:00 CET | Pressemeddelelse
Sætter ny standard for institutionel digital aktivinfrastruktur med samlet føderal tilsyn BitGo Holdings, Inc. (“BitGo”), virksomheden inden for digital aktivinfrastruktur, annoncerede i dag, at Office of the Comptroller of the Currency (“OCC”) godkendte virksomhedens ansøgning om at konvertere BitGo Trust Company, Inc., et trustselskab registreret i South Dakota, til en nationalbank ved navn BitGo Bank & Trust, National Association (N.A.). Med dagens OCC-godkendelse af konverteringen fungerer BitGos datterselskab af Trust Company nu som BitGo Bank & Trust, National Association (N.A.). BitGo Bank & Trust, N.A. vil operere under et enkelt, ensartet føderalt tilsynssystem, der gør det muligt at levere den klarhed, styring og reguleringssikkerhed, som institutioner forventer af et føderalt reguleret fiduciært selskab. Denne godkendelse styrker BitGos position som et institutionelt fundament for det moderne finansielle system, der kombinerer tilsyn på bankniveau med den sikkerhed, complian
FIA, Formula 1 Group and All 11 Race Teams Officially Sign the Ninth Concorde Agreement, Securing Strength and Stability for the Sport in Pivotal Five-Year Agreement12.12.2025 17:10:00 CET | Press release
Multi-year Concorde Governance Agreement signed by the FIA, Formula 1 Group and all 11 teams, securing the World Championship through 2030 Paves the way for a more professionalised sport and represents a new era of collaboration between the FIA and Formula 1 Group Long-term commitment enhances sporting reliability, global reach and stability for teams, fans and broadcasters The Fédération Internationale de l'Automobile (FIA), the global governing body for motor sport and the federation for mobility organisations worldwide, and Formula 1 Group, the Commercial Rights Holder, have today announced the signing of the Concorde Governance Agreement, a crucial contract defining the regulatory framework and governance terms of the FIA Formula One World Championship until 2030. This follows the announcement in March that the 2026 Commercial Concorde Agreement had been signed by all the teams and Formula 1 Group. Together, these agreements constitute the ninth Concorde Agreement, representing a m
Anabranch Capital Management, LP supports relisting of SmartCraft ASA to Nasdaq Stockholm12.12.2025 16:26:00 CET | Press release
Reference is made to the stock exchange announcement by SmartCraft ASA ("SmartCraft" or the "Company") on 1 December 2025 regarding the contemplated relisting of SmartCraft from Euronext Oslo Børs to Nasdaq Stockholm (the "Relisting") and the announcement of a cross-border merger to effect the Relisting. Funds managed by Anabranch Capital Management, LP (“Anabranch”) intend to vote in favour of the merger plan resolved by the boards of SmartCraft and its Swedish wholly owned subsidiary, SmartCraft Group AB (publ), to effect the Relisting at the Company's extraordinary general meeting planned for January 2025 (the "EGM"). Anabranch intends to vote with all Anabranch shares held at the Record Date for the EGM in favour of the relisting effected by the merger plan. Funds managed by Anabranch currently hold approximately 15.9 million shares in SmartCraft. Disclaimer: The views expressed are those of the authors and Anabranch Capital Management, LP as of the date referenced and are subject
Mohammed Ben Sulayem Re-Elected as President of the FIA12.12.2025 15:49:00 CET | Press release
The Fédération Internationale de l’Automobile (FIA), the global governing body for motor sport and the federation for mobility organisations worldwide, today confirms that Mohammed Ben Sulayem has been re-elected as President of the FIA, following the election of his Presidential List by the General Assembly in Tashkent, Republic of Uzbekistan. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251212213181/en/ President Mohammed Ben Sulayem now begins his second four-year term, having overseen a period of significant renewal and stabilisation for the organisation since his initial election in 2021. Over the past four years, the FIA has undergone a wide-ranging transformation, improving governance, operations and restoring the financial health of the federation. These changes have strengthened the FIA’s position as the world’s governing body for motorsport and the leading authority on safe, sustainable, and affordable mobility.
Perma-Pipe International Holdings, Inc. Announces Third Quarter 2025 Financial Results12.12.2025 15:00:00 CET | Press release
Net sales of $61.1 million for the quarter and $155.8 million year-to-date.Income before income taxes of $10.9 million for the quarter and $21.1 million year-to-date.Diluted earnings per share of $0.77 for the quarter and $1.49 year-to-date.Backlog of $148.9 million at October 31, 2025, up from $138.1 million at January 31, 2025. Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) announced today financial results for the third quarter ended October 31, 2025. “For the three months ended October 31, 2025, net sales were $61.1 million, an increase of $19.5 million, or 46.9%, compared to $41.6 million in the same quarter of the prior year. Growth was driven by higher sales volumes in both the Middle East and North America. Gross profit was $21.0 million, up $6.9 million from $14.1 million last year, reflecting higher activity levels. Selling, general and administrative expenses increased to $8.3 million from $7.3 million, primarily due to higher payroll and professional fees, including
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom