Patra recognized as a leader of intermediary services

Amid evolving market dynamics, there is a noticeable shift toward prioritizing digitization and adopting advanced technologies to drive change, especially amid the challenging economic landscape and ongoing market consolidation. Additionally, with the emergence of risks associated with climate change and cyber threats, intermediaries are expanding their role beyond traditional risk placement to become strategic advisors. They leverage data-driven insights to offer proactive risk management solutions to clients.
As the insurance intermediary segment adapts to this evolving landscape, there is a growing trend of forging partnerships with providers to optimize costs, access technical capabilities, and tap into talent expertise. Concurrently, providers are actively investing in digital capabilities, partnering with InsurTech companies, and enhancing collaboration with intermediaries through a consultative approach.

In this report, we assess 15 insurance intermediary Business Process Services (BPS) providers and position them on Everest Group’s PEAK Matrix® framework as Leaders, Major Contenders, and Aspirants.