How Smart Use of Emerging Technologies Drives Growth and Profits for Insurers

7/31/2019 How Smart Use of Emerging Technologies Drives Growth and Profits for Insurers

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2 FUTURE OF WORK September 2012

Executive SummaryEmerging technologies hold enormous potential or enabling

insurers to drive growth and reduce operational costs. But not

every solution will be the right ft or insurers as they ace the

challenges o persistent economic sotness, intensifed compe-tition among carriers and bottom-line and margin pressures.

We see our emerging technologies that stand out rom the

rest: mobility, social media, enterprise collaboration and ex-

ternal delivery o high-volume, low-touch business processes.

These technologies top our list because they move orward-

thinking organizations to a more collaborative, exible and

global approach that we call the Future o Work. These technol-

ogies deliver the operational efciencies, customer interactionsand pathways to better business decisions that insurers need.

For insurers, the uture o work is now. Already these emerg-

ing technologies are enabling important business changes or

insurers. Carriers are increasingly using mobility, or example,

to speed claims processing and enable customer sel-service.

Mobile applications are also making telematics and VIN scan-

ning more viable.

Social media is a cost-eective marketing tool thats helping in-

surers not only increase brand awareness and customer loyalty,

but also target the technologically savvy millennials between

the ages o 15 and 35 as potential customers and employees.

Virtualization o people, process and technology is enabling the

adoption o enterprise collaboration tools that help insurers

organize intellectual capital and acilitate knowledge sharing.

Finally, with worldwide access to skilled workers enabling insur-

ers to perorm high-quality work at cost-eective locations,

new service delivery models such as business process as a ser-

vice (BPaaS) provide standardized, cloud-based platorms that

drive business eectiveness and innovation and lower total

cost o ownership.
http://www.cognizant.com/futureofwork/http://www.cognizant.com/futureofwork/


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HOW SMART USE OF EMERGING TECHNOLOGIES DRIVES GROWTH AND PROFITS FOR INSURERS 3


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Mobility and Social Media

Using Mobility to Reduce Operational Costs

Mobile communications are ast becoming the norm. With more than 230 million

Americans1 using mobile devices, on-the-go Internet access is expected to overtake

desktop Internet use by 2014.

What ollows are examples o ways that insurers are putting mobile solutions to useor streamlining internal processes and improving customer service:

Enabling more efcient claims appraisal. Mobile solutions not only enablequicker dispatch o claims adjusters to sites but, once there, adjusters can assess

damage and use mobile apps to provide loss estimates, record the loss inorma-

tion and upload photos and videos. They transmit inormation to claims man-

agement systems or quick processing. The result is a 20% to 30% reduction

in claims appraisal time and improved productivity or adjusters.2 Whats more,

aster claims cycles reduce the loss adjustment expense per claim.

A leading property and casualty (P&C) insurer3 reaped big returns when it

deployed a mobile solution or claims appraisers. The appraisers work process

had been antiquated at best: they made handwritten notes during site visits and

then keyed in the application inormation back at their ofces. The long cycletimes decreased operational efciency and customer satisaction.

The insurer developed a mobile app that lets appraisers view claims and policies,

record loss details, upload photographs and videos and calculate loss estimation

details. The app led to a 30% improvement in service level agreements,

a reduction o 15 minutes. Within the frst year o implementation, the apps

adoption rate averaged 40%.

Promoting customer sel-service. Insurers such as Progressive and Geico aretaking advantage o this trend with smartphone apps that let customers shop

or quotes, create new policies, submit payments and initiate frst notice o loss

(FNOL) requests. Sel-service is expected to lower insurers operational costs as

consumers make ewer calls to agents and call centers, and customer support

stas are reduced.

Aiding agents and brokers or a more interactive selling experience. Mobiledevices enable a more engaging, streamlined selling experience. Many insurance

agents still carry bulky paper binders flled with sales aids or laptops loaded

with marketing materials. Mobile apps let them easily guide prospects through

the application process, calculate coverage needs and provide policy quotations.

Policy applications can be viewed and even signed electronically on the mobile

touch screen. John Hancocks i-Illustrate app allows producers to adjust illustra-

tions o their lie insurance products in real time, while theyre presenting op-

tions to consumers.4

Emerging Mobility Trend: Using Telematics to

Assess Risk More AccuratelyMobility is also opening new opportunities or vehicle telematics. Until recently, the

burden o installing Internet-enabled transmission devices in vehicles had hindered

the growth o usage-based Insurance. Smartphones popularity could eliminate

that hurdle. In act, insurers may soon partner with automakers to create apps that

transmit real-time driving data.

With telematics data, insurers can calculate premiums commensurate with policy-

holders actual risk, such as miles driven and driving behaviors (see The New Auto
http://www.cognizant.com/futureofwork/http://www.cognizant.com/InsightsWhitepapers/The-New-Auto-Insurance-Ecosystem-Telematics-Mobility-and-the-Connected-Car.pdfhttp://www.cognizant.com/futureofwork/http://www.cognizant.com/InsightsWhitepapers/The-New-Auto-Insurance-Ecosystem-Telematics-Mobility-and-the-Connected-Car.pdf


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Insurance Ecosystem: Telematics, Mobile and the Connected Car). Low-risk drivers

will qualiy or low-cost insurance. In addition, telematics potential or tracking

vehicle locations and potentially disabling engines in cases o unauthorized access

means it could soon play a role in reducing car thets.

Emerging Mobility Trend: Scanning VIN Inormation orFaster Creation o Quotes

Insurers are capitalizing on mobile technology in yet another way: Automatically

gathering the tedious amounts o inormation required or insurance quotes. For

example, GEICOs iPad app5 eliminates the typical quote

bottleneck by letting customers scan the vehicle identifca-

tion numbers (VIN) on their automobiles and then automati-

cally flling in the vehicles details.

By reducing the time it takes to generate quotes, mobile

eatures such as scanning and auto-fll make it easier or

consumers and insurers to process quotes and potentially

increase new business sales or insurers.

Social Media Improves Marketing ROIJust as mobility provides insurers with new opportunities to

reduce operational costs, social media opens new avenues

to both save money and build brand awareness and market

share. To stay competitive, insurers are ueling their marketing eorts with resh

budget increases. P&C insurers increased their advertising budgets an average

o 14.9% in 2011.6 State Farm and Farmers Insurance each upped their budgets

almost 30%.6

But as traditional media costs climb, insurers continually look or low-cost marketing

channels to keep down the expense ratio. Social media fts the bill: Marketers view

social campaigns as more aordable than traditional media counterparts, according

to a 2011 reader poll.7 For insurers targeting millennials, social media is an especially

eective marketing platorm. Forty-eight percent o millennials turn to the Webfrst to gather insurance quotes and purchase or renew policies.8

When Farmers Insurance launched a novel advertising campaign on Facebooks

popular FarmVille game,9 its an base quickly reached 37,500. The campaigns

purpose? To target the large chunk o FarmVille players who are stay-at-home

moms and typically in charge o insurance-buying decisions.

Esurance, which specializes in direct sales to consumers, recently started oering

a 10% discount on auto policies to Texas residents who like the company on

Facebook. Esurance strategically selected Texas or the social-media campaign: The

Longhorn State has the U.S.s second largest Facebook population.10

Aac has been especially creative. To increase awareness o its products and

services, it launched The 10 Second Challenge on Facebook, YouTube and Aac.

com, oering a $25,000 grand prize or the best 10-second video describing Aacs

value.11 Within the frst two weeks, the insurer acquired 170,000 new Facebook ans.

The grand prize or Aac? More than 100 consumer-produced videos eaturing the

Aac brand that the insurer could leverage in other marketing initiatives.

Social media marketing lets insurers improve their advertising-to-premiums ratio

and increase campaign eectiveness and reach.

Insurers are capitalizing on

mobile technology in yet

another way: Automatically

gathering the tedious amounts

o inormation required or

insurance quotes.
http://www.cognizant.com/futureofwork/http://www.cognizant.com/InsightsWhitepapers/The-New-Auto-Insurance-Ecosystem-Telematics-Mobility-and-the-Connected-Car.pdfhttp://www.cognizant.com/futureofwork/http://www.cognizant.com/InsightsWhitepapers/The-New-Auto-Insurance-Ecosystem-Telematics-Mobility-and-the-Connected-Car.pdf


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Using Social Media Data to Combat Fraud

Social media is all about data: The average Facebook user creates 90 pieces o

new content each month, and Facebook users share more than 30 billion pieces

o content daily.12 For insurers, the data represents a wealth o inormation or

investigating the raudulent claims that account or 10% o the P&C industrys loss

adjustment expenses, according to the Insurance Inormation Institute.

Claims investigators could ag a variety o content on social networking sites suchas YouTube, Facebook and Twitter or urther scrutiny:

A policyholder who claims to be a teetotaler when signing a lie insurance policybut uploads photos o himsel on Facebook drinking in a bar.

A disability-benefts recipient who tweets about successully running a marathon.

An automobile owner who posts photos o a car garaged in a new home while stillpaying a premium based on residency in a lower rate area.

Emerging Trends in Social Media: Cost-EectiveMarket Research

In addition, insurers are increasingly using social media as a platorm or aordable,

eective market research. By asking customers to rate new product oerings andencouraging product and marketing ideas, insurers are creating a pool o eedback

or use in improving products and time to market.

USAA regularly uses social media to invite customers to rate and review its products

and services. It then makes the comments available to product managers.13 The

rankings and reviews are an essential part o its social strategy.

Enterprise Collaboration

Better ROI: Cutting Through the Clutter and PromotingBetter Decision Making

Like social media, collaboration emphasizes sharing. But collaborations sharingtargets a dierent purpose: making better decisions based on access to better

inormation.

For insurers, however, organizational challenges oten complicate collabora-

tion by making inormation hard to fnd. Knowledge is scattered among systems,

documents and e-mails. Worse, much expertise remains undocumented, residing

within insurers employees. Thats a problem as more sales agents near retirement

their average age is 5514 and the hiring pipelines ow o younger agents to

replace them is inadequate. In addition, insurance teams are becoming increas-

ingly virtual, thereby limiting the knowledge transer between seasoned and new

workers.

Enterprise collaboration tools counter those challenges. By capturing employeeexperiences, skill sets and interests, and organizing documents and e-mails, they

eliminate bottlenecks and help insurers make smarter decisions.

Increasing Operational Efciency

To evaluate the risk associated with policy applications, or example, underwriters

typically spend 20% to 25%15 o their time searching or subject matter experts

(SMEs) in claims and sales agencies, or or inormation in loss run reports and


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underwriting guidelines. Workers unsuccessul at fnding SMEs risk making time-

consuming and poor decisions.

The use o enterprise collaboration tools will ree up employee time spent on

locating the right inormation and veriying its accuracy, leading to reduced

response time to resolve business issues. Moreover, because many collabora-

tion suites integrate with Web and video conerencing tools, they enable virtual

meetings that can increase productivity and reduce travel expenses.

Global reinsurer Swiss Re experienced the power o enterprise collaboration

frsthand. It had struggled with the loss o intellectual knowledge due to attrition,

reduced travel budgets and knowledge workers spread throughout its global

ofces.16 It needed to build its intellectual property and reduce operational costs.

Using collaboration tools that let employees orm virtual teams, the company

expanded its risk knowledge base and produced additional risk-related publica-

tions. It also hosted more virtual meetings and cut travel costs. Seven weeks ater

the new tools launch, 61% o potential users were on board and had enthusiasti-

cally ormed 375 project groups.

Tracking Innovation and New Ideas

The latest trend in collaboration is using it to track new ideas

by integrating collaboration suites with idea-management

tools. The more systematic approach to innovation provides

organizations with a 360-degree view o the idea liecycle.

Employees share and submit ideas that are then ranked

and prioritized based on the number o votes received and

the ideas alignment with strategic goals. Proposals are

drated. Each ideas implementation is tracked, and its ROI

measured.

Integrating collaboration and idea management motivates

employees to create idea pipelines. They become engaged.

Allstate Insurance employees generated 2,500 ideas aterthey began collaborating with Spigit idea management

sotware.17 This new way o working helped Allstate reduce

its product development cycle time by up to eight weeks

and to successully implement ideas including claims

leakage improvements, employee recognition concepts and

mobile phone applications.

Mobile Collaboration

Mobile collaboration is the next rontier. As the speed o decision making in the

always-on world grows aster, collaboration sotware developers are beginning

to enable mobile eatures that allow real-time access to internal wikis, orums

and blogs key improvements given that the mobile workorce will account orone-third o the global workorce by 2015,18 according to market research frm Inter-

national Data Corporation.

Using mobile editing apps, employees can edit documents while they are out o the

ofce, and save them onto the network using a fle synchronization service. Using

mobile devices, employees can also make voice or video calls, click to chat rom the

contact directory and convert a chat into a ull-edged meeting.

Using mobile editing apps,employees can edit documents

while they are out o ofce, and

save them onto the network

using a fle synchronization

service. Using mobile devices,

employees can also make voice

or video calls, click to chat romthe contact directory and

convert a chat into a

ull-edged meeting.


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Business Process as a Service

Opening New Opportunities or Insurers

For insurers, empowering employees to be more productive and make better

decisions also means exploring opportunities or external delivery o routine

processes. BPaaS oers carriers the opportunity to partner with an expert third

party on high-requency, low-touch business processes such as quotes, applica-

tions, rating and processing renewals. As a result, key internal resources are reedto support or extend a carriers core competencies.

Emerging technologies are at the heart o BPaaS. Providers leverage cloud-based

platorms and deliver services that weave together the best aspects o IT inra-

structure, applications and business process smarts. They manage the services and

delivery and, equally important, oer a pay-by-use model so insurers require less

business and IT support sta.

One-third o insurers are replacing or planning to replace their policy administration

systems, reports Novarica, a New York-based research and advisory frm.19 Midsize

P&C insurers spend an average o $4 million to $6 million building a COTS-based

billing system (customer payments, agency payouts) or one line o business and a

single-state rollout.20 Outsourcing the unction to a BPaaS provider could save the

insurer approximately $1.3 million to $2 million.

For smaller insurers, the BPaaS model oers important advantages. Smaller carriers

can bypass upront investment in new technologies yet gain access to new capabili-

ties without adding to their in-house payroll. Small and even medium insurers could

save 25% to 40% by deploying business unctions on a BPaaS model, according

to estimates by Everest Group, an advisory and research frm on global services. 21

Larger insurers initial savings over the traditional IT/BPO model will be a more

modest 10%21 due to the high transaction ees that their greater business volumes

incur. Increased competition among BPaaS providers, however, could eventually

lower those costs.

Insurer Gains Big Benefts

Already, insurers are capitalizing on the opportunities BPaaS oers or standardiz-

ing business and IT processes. At a leading P&C commercial insurance company, or

example, producers new business applications had been a jumble o inconsistent

orms and data ormats,22 with the insurer manually entering much o the data into

its own system. Decision times lagged. Customers complained.

With a BPaaS intake and processing solution, agents and brokers submit applica-

tions in 70% less time. The underwriting team saves 3,000 hours o reviewing the

quality o submitted data. Even better, by outsourcing data preparation, the P&C

commercial insurer is able to screen 30% to 40% more new business transactions.

Focus on new business growth is an important beneft o standardizing insurance

processes. When a lie insurer ound that its multiple customer service centers led to

high costs, missed selling opportunities and customer dissatisaction, it hired a BPaaS

provider to manage its customer service unction using the pay-by-use model. 23

The BPaaS provider manages the lie insurers business and IT operations and set

up a center o excellence in India. The scalable customer service center handles

customer inquiries, records FNOL transactions and customer complaints and

re-directs calls to agents or claims personnel or cross-selling opportunities and

claims handling.


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The lie insurer saw operational costs drop 25% in the third year o implementa-

tion, and cross-selling o annuity products rose 20% in the ourth year. Employee

satisaction improved by 30%. And, perhaps most important or all growth-minded

companies, the insurers surveys indicated improved customer satisaction.

Trends in Insurance BPaaS

Emerging DestinationsIndia, the Philippines and China dominate the outsourcing insurance market. Other

nations, however, are also making aggressive pushes into the $4-billion outsourcing

market by changing laws and oering incentives to lower outsourcing costs (see

Figure 1).

Figure 1

Emerging Destinations or Insurance Outsourcing

Key Factors DrivingBPaaS Sector Growth

South Arica Vietnam The Philippines

Cost Competitiveness

Estimated 2012 salaryo IT/BPO worker

$47,000 (40% to 50% lessthan the UK and U.S.) 24

$10,000 (90% less thanthe U.S.)24

$17,500 (70% to 80% less thanthe U.S.)24

Tax considerations

Business processing centers

that create jobs locally receivetax benefts o 20%.25

Corporate taxes average

25%, lower than tax rates inThailand and the Philippines. 27

IT BPO centers receive an

income tax holiday (ITH) o ourto eight years, and special tax

concessions.29

Other actors

Telecom costs ell 85%

rom 2003 to 2009. Annual

decrease o 15% to 25% is

expected over the next fveyears. 26

High-quality telecom and

low-cost real estate contribute

to national goals o increasing

the share o the global IT out-sourcing market.30

Skilled Labor

Annual number o Eng-lish-speaking graduates

345,000, second only to Indiaand the Philippines.26

244,000; 61,000 specialize inscience and technology.27

500,000, second only toIndia.30

80% o students hold degrees

in sotware development.

English is the second mostpopular language.28

Economic and Political Stability

GDP growth rate

average

2.7% over past fve years.

Political and economic

climates are stable.31

6.6% over past fve years,

second to China among Asian

countries. Main cities poisedor BPO placements are Hanoi,

Ho Chi Minh and Hue.31

4.6% over the past 5 years. The

countrys political climate is

relatively stable.31

Business Process Functions as Candidates or BPaaS

Shits are also expected to occur in the type o business process unctions that

insurers outsource. U.S. insurers typically outsource policy administration and

servicing, claims administration and customer support. As the BPaaS industry


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matures, however, major providers are positioning themselves as high-value

business partners and oering more knowledge-intensive processes such as

advanced analytics and actuarial services.

Analytics processes that insurers may outsource include:

Customer analytics. Service providers can gain insight into customer behaviorand trends that results in more careul targeting o customers or cross-selling

and up-selling. Analytics can also help predict attrition o existing customers andstudy the profles o customers who deected. As a result, carriers can improve

product oerings and customer retention strategies.

Risk management analytics. Insurers can leverage BPaaS providers to analyzemore granular risk groups. By calculating risk measures or new segments, insur-

ers can determine more accurate premiums.

Actuarial unctions. Faced with a shortage o actuarial sta and the need toreduce operational costs, insurers could outsource premium calculation, loss re-

serves estimation and cash-ow projection. In addition, they could outsource stan-

dard reports or regulators in coordination with the accounting and fnance teams.

Put Emerging Technologies Interconnected Drivers to Work

Emerging technologies help insurers fnd new ways o doing business. Embracingresh business models and ways o work, however, can be challenging in a conser-

vative industry such as insurance. The good news is that like the our emerging

technologies discussed here, the drivers o change are oten interconnected so that

change, when allowed, can ripple through organizations.

Successully adopting emerging technologies requires organizations to be collabor-

ative, exible and global all qualities that every insurer needs to embrace. Because

the next emerging technology, like the uture o work, is always close at hand.

Footnotes1 http://www.carinsurance.org/2011/07/progressive-iphoneandroid-app-gets-new-

eatures-726/

2 http://us.blackberry.com/business/industry/RIM_TG_Insurance_WP.pd

3 Based on Cognizants experience in mobility engagements or a large P&C insurer.

4 http://www.johnhancock.com/about/news_details.php?n=eb1411a-text&yr=2011

5 http://www.businesswire.com/news/home/20120522006165/en/GEICO-App-adds-

eature-enhancements

6 http://www.snl.com/InteractiveX/Article.aspx?cdid=A-15125531-13619

7 http://smartblogs.com/social-media/2011/03/30/is-social-media-marketing-more-

cost-eective-than-traditional-channels/

8 http://adage.com/article/news/insurance-industry-s-4-billion-advertising-

brawl/148992/

9 http://windmillnetworking.com/2010/10/20/armers-insurance-social-media-mar-

keting-case-study-utilizing-armville-or-acebook-brand-awareness/

10 http://www.esurance.com/news/2012-esurance-oers-like-to-save-discount-in-texas

11 http://www.dachisgroup.com/case-studies/aac-10-second-challenge
http://www.carinsurance.org/2011/07/progressive-iphoneandroid-app-gets-new-features-726/http://www.carinsurance.org/2011/07/progressive-iphoneandroid-app-gets-new-features-726/http://us.blackberry.com/business/industry/RIM_TG_Insurance_WP.pdfhttp://www.johnhancock.com/about/news_details.php?fn=feb1411a-text&yr=2011http://www.businesswire.com/news/home/20120522006165/en/GEICO-App-adds-feature-enhancementshttp://www.businesswire.com/news/home/20120522006165/en/GEICO-App-adds-feature-enhancementshttp://www.snl.com/InteractiveX/Article.aspx?cdid=A-15125531-13619http://smartblogs.com/social-media/2011/03/30/is-social-media-marketing-more-cost-effective-than-traditional-channels/http://smartblogs.com/social-media/2011/03/30/is-social-media-marketing-more-cost-effective-than-traditional-channels/http://adage.com/article/news/insurance-industry-s-4-billion-advertising-brawl/148992/http://adage.com/article/news/insurance-industry-s-4-billion-advertising-brawl/148992/http://windmillnetworking.com/2010/10/20/farmers-insurance-social-media-marketing-case-study-utilizing-farmville-for-facebook-brand-awareness/http://windmillnetworking.com/2010/10/20/farmers-insurance-social-media-marketing-case-study-utilizing-farmville-for-facebook-brand-awareness/http://www.esurance.com/news/2012-esurance-offers-like-to-save-discount-in-texashttp://www.dachisgroup.com/case-studies/aflac-10-second-challengehttp://www.dachisgroup.com/case-studies/aflac-10-second-challengehttp://www.esurance.com/news/2012-esurance-offers-like-to-save-discount-in-texashttp://windmillnetworking.com/2010/10/20/farmers-insurance-social-media-marketing-case-study-utilizing-farmville-for-facebook-brand-awareness/http://windmillnetworking.com/2010/10/20/farmers-insurance-social-media-marketing-case-study-utilizing-farmville-for-facebook-brand-awareness/http://adage.com/article/news/insurance-industry-s-4-billion-advertising-brawl/148992/http://adage.com/article/news/insurance-industry-s-4-billion-advertising-brawl/148992/http://smartblogs.com/social-media/2011/03/30/is-social-media-marketing-more-cost-effective-than-traditional-channels/http://smartblogs.com/social-media/2011/03/30/is-social-media-marketing-more-cost-effective-than-traditional-channels/http://www.snl.com/InteractiveX/Article.aspx?cdid=A-15125531-13619http://www.businesswire.com/news/home/20120522006165/en/GEICO-App-adds-feature-enhancementshttp://www.businesswire.com/news/home/20120522006165/en/GEICO-App-adds-feature-enhancementshttp://www.johnhancock.com/about/news_details.php?fn=feb1411a-text&yr=2011http://us.blackberry.com/business/industry/RIM_TG_Insurance_WP.pdfhttp://www.carinsurance.org/2011/07/progressive-iphoneandroid-app-gets-new-features-726/http://www.carinsurance.org/2011/07/progressive-iphoneandroid-app-gets-new-features-726/


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About the AuthorsMichael Kim is the Global Head o Cognizant Business Consultings Insurance

Practice. He has 20-plus years o management consulting experience in insurance,

healthcare and the fnancial services industries. Mike has advised leading insurance

companies on strategy, operations and technology issues. He can be reached at

[email protected].

Pushpamitra Khuntia is a Senior Consultant in Cognizant Business Consultings

Insurance Practice. She has 12-plus years o business consulting and project man-

agement experience in the insurance and healthcare industries, specializing in P&C

insurance issues. Pushpamitra can be reached [email protected].

12 http://socialmediatoday.com/kenburbary/276356/acebook-demographics-revisit-

ed-2011-statistics

13 http://www.intmp.com/CDs/CUNALNZDUE/fles/BazaNYKX/USAACaseStudy.pd

14 http://iawebnews.com/2011/03/18/lie-insurer-using-internet-in-quest-or-

3500-new-insurance-agents/

15 Based on Cognizants experience in underwriting engagements or several lie and

P&C insurers.16 http://www.jivesotware.com/fles/pd/casestudy/Case-Study-SwissRe.pd?aet=23

17 http://www.spigit.com/wp-content/uploads/2012/01/allstate_case_study.pd

18 http://esj.com/articles/2012/01/23/mobile-workorce-growth.aspx

19 http://blog.novarica.com/?category_name=policy-administration-systems

20 Based on Cognizants engagements with mid-size P&C insurers IT teams.

21 http://www.everestgrp.com/2012-04-pick-or-pass-on-bpaas-gaining-altitude-in-the-

cloud-9461.html

22 Based on Cognizants BPaaS engagement or a large P&C commercial insurer.

23 Based on Cognizants CSC BPaaS engagement or a large lie insurer.

24 http://www.neogroup.com/PDFs/Whitepapers/OIv4i04_0506_ITO_and_BPO_

Salary_Report_2006.pd

25 http://www.oshoringsoutharica.com/wp-content/uploads/downloads/2011/01/Our-

Incentives_Jan2011.pd

26 http://www.itnewsarica.com/2011/01/south-arican-bpo-industry-set-or-growth-

in-2011/

27 http://www.sourcingline.com/outsourcing-location/vietnam

28 http://www.bpmwatch.com/knowledgebase/know-emerging-bpo-global-destina-

tions-vietnam/

29 http://outsourcingdefned.com/what-incentives-are-available-or-bpo-services-in-

the-philippines/30 http://koreanewsonline.blogspot.com/2011/06/philippines-tops-global-ranking-or-

bpo.html

31 http://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG
http://www.cognizant.com/futureofwork/mailto:Michael.Kim%40cognizant.com?subject=mailto:KPushpamitra%40cognizant.com?subject=http://socialmediatoday.com/kenburbary/276356/facebook-demographics-revisited-2011-statisticshttp://socialmediatoday.com/kenburbary/276356/facebook-demographics-revisited-2011-statisticshttp://www.intmp.com/CDs/CUNALNZDUE/files/BazaNYKX/USAACaseStudy.pdfhttp://ifawebnews.com/2011/03/18/life-insurer-using-internet-in-quest-for-3500-new-insurance-agents/http://ifawebnews.com/2011/03/18/life-insurer-using-internet-in-quest-for-3500-new-insurance-agents/http://www.jivesoftware.com/files/pdf/casestudy/Case-Study-SwissRe.pdf?aet=23http://www.spigit.com/wp-content/uploads/2012/01/allstate_case_study.pdfhttp://esj.com/articles/2012/01/23/mobile-workforce-growth.aspxhttp://blog.novarica.com/?category_name=policy-administration-systemshttp://www.neogroup.com/PDFs/Whitepapers/OIv4i04_0506_ITO_and_BPO_Salary_Report_2006.pdfhttp://www.neogroup.com/PDFs/Whitepapers/OIv4i04_0506_ITO_and_BPO_Salary_Report_2006.pdfhttp://www.offshoringsouthafrica.com/wp-content/uploads/downloads/2011/01/Our-Incentives_Jan2011.pdfhttp://www.offshoringsouthafrica.com/wp-content/uploads/downloads/2011/01/Our-Incentives_Jan2011.pdfhttp://www.itnewsafrica.com/2011/01/south-african-bpo-industry-set-for-growth-in-2011/http://www.itnewsafrica.com/2011/01/south-african-bpo-industry-set-for-growth-in-2011/http://www.sourcingline.com/outsourcing-location/vietnamhttp://www.bpmwatch.com/knowledgebase/know-emerging-bpo-global-destinations-vietnam/http://www.bpmwatch.com/knowledgebase/know-emerging-bpo-global-destinations-vietnam/http://outsourcingdefined.com/what-incentives-are-available-for-bpo-services-in-the-philippines/http://outsourcingdefined.com/what-incentives-are-available-for-bpo-services-in-the-philippines/http://koreanewsonline.blogspot.com/2011/06/philippines-tops-global-ranking-for-bpo.htmlhttp://koreanewsonline.blogspot.com/2011/06/philippines-tops-global-ranking-for-bpo.htmlhttp://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZGhttp://www.cognizant.com/futureofwork/http://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZGhttp://koreanewsonline.blogspot.com/2011/06/philippines-tops-global-ranking-for-bpo.htmlhttp://koreanewsonline.blogspot.com/2011/06/philippines-tops-global-ranking-for-bpo.htmlhttp://outsourcingdefined.com/what-incentives-are-available-for-bpo-services-in-the-philippines/http://outsourcingdefined.com/what-incentives-are-available-for-bpo-services-in-the-philippines/http://www.bpmwatch.com/knowledgebase/know-emerging-bpo-global-destinations-vietnam/http://www.bpmwatch.com/knowledgebase/know-emerging-bpo-global-destinations-vietnam/http://www.sourcingline.com/outsourcing-location/vietnamhttp://www.itnewsafrica.com/2011/01/south-african-bpo-industry-set-for-growth-in-2011/http://www.itnewsafrica.com/2011/01/south-african-bpo-industry-set-for-growth-in-2011/http://www.offshoringsouthafrica.com/wp-content/uploads/downloads/2011/01/Our-Incentives_Jan2011.pdfhttp://www.offshoringsouthafrica.com/wp-content/uploads/downloads/2011/01/Our-Incentives_Jan2011.pdfhttp://www.neogroup.com/PDFs/Whitepapers/OIv4i04_0506_ITO_and_BPO_Salary_Report_2006.pdfhttp://www.neogroup.com/PDFs/Whitepapers/OIv4i04_0506_ITO_and_BPO_Salary_Report_2006.pdfhttp://blog.novarica.com/?category_name=policy-administration-systemshttp://esj.com/articles/2012/01/23/mobile-workforce-growth.aspxhttp://www.spigit.com/wp-content/uploads/2012/01/allstate_case_study.pdfhttp://www.jivesoftware.com/files/pdf/casestudy/Case-Study-SwissRe.pdf?aet=23http://ifawebnews.com/2011/03/18/life-insurer-using-internet-in-quest-for-3500-new-insurance-agents/http://ifawebnews.com/2011/03/18/life-insurer-using-internet-in-quest-for-3500-new-insurance-agents/http://www.intmp.com/CDs/CUNALNZDUE/files/BazaNYKX/USAACaseStudy.pdfhttp://socialmediatoday.com/kenburbary/276356/facebook-demographics-revisited-2011-statisticshttp://socialmediatoday.com/kenburbary/276356/facebook-demographics-revisited-2011-statisticsmailto:KPushpamitra%40cognizant.com?subject=mailto:Michael.Kim%40cognizant.com?subject=


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