The current state of outsourcing in Insurance Industry and the outsourcing model

1. Outsourcing In Insurance Industry Group 12

2. Agenda SP Jain Center of Management 2 1 2 3 4 5 6 7 8

3. Value Chain of the Insurance Industry SP Jain Center of Management 3

4. Key Drivers for Outsourcing SP Jain Center of Management 4

5. Various Service Providers In India SP Jain Center of Management 5

6. Insurance companies that Outsource SP Jain Center of Management 6

7. Processes Claims registering Non Core Processes Marketing activities Core Processes Product Planning Policy owner services Payroll processing Investment functions Voice Support via call centers Policy pricing Performance Management Forms data entry Account reconciliation Agency Management Premium refund Financial statement analysis Business analysis Technology & Maintenance Accounts payable and receivable Reinsurance Support to agents/ policyholders Compliance Portfolio analysis and decisions Forms design Claims evaluation, examination and litigation SP Jain Center of Management 7

8. Process Complexity Graph SP Jain Center of Management 8 Rising up the value chain

9. Outsourcing Model I N S U R A N C E I N D U S T R Y O U T S O U R C I N G Services Offered Service Segment • Application Maintenance & Development • Infrastructure Management • Data architecture • System Deployment and Integration • Product design • Network and desktop outsourcing IT Services ITO • Premium accounting • Policy owner services • Support functions • Data entry • In bound and outbound call support • MIS BPO ITES • High end Claims Processing • Annuity & Pension products process • Business analysis and technical design • Underwriting • Portfolio analysis and decisions • Corporate Treasury KPO SP Jain Center of Management 9

10. Compliance Needs SP Jain Center of Management 10

11. Risks SP Jain Center of Management 11

12. Risks Mitigation SP Jain Center of Management 12

13. Higher-end processes such as underwriting, actuaries and analytics Average billing rates upwards by more than 25 percent in the next two to three years Future Trends SP Jain Center of Management 13

14. SP Jain Center of Management 14