Insurance BPO forecast shows $5.4b rise over nine years

APAC is also forecasted to be the fastest-growing region.

The Insurance BPO Services Industry is slated for a compound annual growth (CAGR) of 5.82%, from $8.2b in 2025 to $13.6b in 2034, according to Market Research Future.

Last year, the global market was valued at $7.7b. Asia-Pacific is also forecasted to be the fastest-growing region, driven by cost-effective labour and rising insurance penetration.

The global market’s steady expansion is driven by cost optimisation, regulatory compliance needs, and digital transformation within the insurance sector.

Technological advancements are further propelling the market. The integration of artificial intelligence (AI), robotic process automation (RPA), and cloud-based systems into BPO services has improved operational efficiency and customer experience, making outsourcing an increasingly attractive option.