Objective and Scope:

The client, a consulting firm, wanted to conduct an in-depth study to assess the opportunity in the health segment with a focus on actuarial and broker solutions. The objective was to drive further strategic actions on growth and expansion, including new capability development and service lines. As part of this exercise, they sought Benori’s support to:  

• Analyze the demand market in the United States and Canada and the supply market in India from a global capability center (GCC) perspective for health segment actuarial and broker services, including market potential, growth trends, opportunities, and outsourcing prospects
• Provide a summary of the competition between market leaders providing services through their GCCs, outlining their key products and services, operating model, recent developments, office location, employee count, etc.

Approach:

Our approach was to conduct a brief study of the actuarial and brokerage market landscape, key competitors, capability assessment, trends and challenges, and digital transformation. We conducted primary research to qualitatively assess the Indian market from a GCC perspective through stakeholder interviews. We conducted secondary research, benchmarking key competitors across service lines, number of GCCs and locations, employee headcount, and the client base to provide actionable insights.

Impact:

The research helped the client in:

• Making informed decisions and strategically positioning themselves during their expansion journey
• Identifying growth opportunities and uncovering new service segments based on market competition