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The actuarial services procurement category is projected to grow at a CAGR of 5.20% during 2022-2026. The prices are outlined to rise by 4%-7% during the forecast period and suppliers will have a Moderate bargaining power in this market. PricewaterhouseCoopers LLP, Deloitte Touche Tohmatsu Ltd., and Ernst and Young Global Ltd. are a few of the key suppliers in actuarial services market.
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This report offers detailed insights and analysis of the major cost drivers, volume drivers, and innovations of the actuarial services procurement and sourcing market, which the global suppliers have been leveraging to gain a competitive edge across regions. Some of the leading actuarial services suppliers profiled extensively in this report include:
Furthermore, this actuarial services procurement market report provides detailed analysis of procurement strategies deployed by major category end-users across several industries while sourcing for actuarial services requirements. In addition, most adopted and high potential pricing models considered by buyers have been analyzed in this report, which will help understand business scopes for revenue expansion. These data will assist buyers to realize cost savings and identify business strategies to improve sales.
The actuarial services procurement market report provides detailed analysis into various supplier selection criteria, RFX questions, supplier evaluation metrics, and the service level agreements that the buyers should consider adopting to achieve significant cost savings, streamline procurement process, and reduce category TCO while sourcing for actuarial services requirements.
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The report provides a detailed insight of the most adopted procurement strategies by buyers across industries and analysis of these strategies with respect to innovation, regulatory compliance, quality, supply, and cost. Adoption of these procurement strategies will enable the buyers to reduce category TCO and achieve cost savings, while sourcing for actuarial services requirements.
The report discusses in detail each pricing model and the pros and cons attached to every pricing model prevalent in the market. Also, the report provides insights with respect to the category supply chain and the margins of various suppliers within the supply chain. These market analysis data will enable the buyers to make informed strategic sourcing decisions. Buy the full actuarial services procurement market report now to get comprehensive details on pricing models
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To optimize the value of the purchase, it is crucial to keep a track of current and future price trends. Price forecasts are beneficial in purchase planning, especially when supplemented by the constant monitoring of price influencing factors. During the forecast period, the market expects an incremental spend of USD 7.83 billion due to various market drivers prevalent across multiple regions. Also, the report speaks about various cost-saving factors through analysis of the below factors:
The actuarial services market will register an incremental spend of about USD 7.83 billion during the forecast period. However, only a few regions will drive the majority of this growth. Moreover, on the supply side, North America, Europe, and APAC will have the maximum influence owing to the supplier base. The growth is expected to be primarily driven by increasing demand and adoption of the category across those few regions. To get a detailed analysis of the volume drivers that are driving the adoption of the category across regions, buy the full report now!
The drivers and inhibitors that influence these global and regional outlooks are elaborated in detail in this procurement report. Our in-depth growth decomposition analysis covers details on:
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A targeted strategic approach to actuarial services sourcing will provide several opportunities. However, in the absence of actionable intelligence on actuarial services, buyers may end up focusing on a tactical sourcing strategy without any focus on cost-saving opportunities. Hence, this report focuses on category management initiatives such as top-line growth, scalability of inputs, and green initiatives, which will assist buyers to formulate a strategic procurement strategy
The report explains the following key category management objectives that should form the base for sourcing strategy.
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In addition to helping buyers in identifying the strategic goals and initiatives for category management, the report also has detailed insights into the most outsourced category management activities and category enablers which can simplify the procurement process for buyers.
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Scope of Actuarial Services |
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Report Specs |
Details |
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Page number |
120 |
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Base year |
2022 |
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Forecast period |
2022-2026 |
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Spend growth (CAGR) |
5.20% |
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Incremental spend |
USD 7.83 billion |
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Pricing growth outlook |
4%-7% |
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Pricing models |
Fixed fee pricing model, Project-based pricing model, and Risk reward pricing model |
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Supplier selection scope |
Operating experience of service providers, Experience and expertise of consultants, Client portfolio, and Geographical presence |
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Supplier opportunities |
Top-line growth, Scalability of inputs, Green initiatives, Adherence to regulatory nuances, Reduction of TCO, Category innovations, Cost savings, Customer retention, Minimalization of ad hoc purchases, Supply assurance, Demand forecasting and governance, and Supply base rationalization |
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Supplier selection criteria |
Business needs, Technical specifications, Operational requirements, Security compliance, Regulatory mandates, Legal requirements, Quality control, Change management procedures, Pricing models, Penalty clauses, SLA nuances, Acceptance criteria, and Evaluation criteria |
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Category management scope |
Top-line growth, Scalability of inputs, Green initiatives, Adherence to regulatory nuances, Reduction of TCO, Category innovations, Cost savings, Customer retention, Minimalization of ad hoc purchases, Supply assurance, Demand forecasting and governance, and Supply base rationalization |
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Top suppliers |
PricewaterhouseCoopers LLP, Deloitte Touche Tohmatsu Ltd., Ernst and Young Global Ltd., KPMG International Ltd., Willis Towers Watson Plc, Aon Plc, Milliman Inc., Marsh and McLennan Companies Inc., Mazars, and WNS |
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Market dynamics |
Regional category spend in terms of percentage with respect to North America, South America, Europe, Middle East and Africa and APAC and global category spend and CAGR in terms of percentage over a span of 5 years. |
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Customization scope |
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