The global economic climate had a distinct effect on the outsourcing expectations and decisions made by insurers and financial services organizations in 2010. So says a report issued this week by San Francisco -based law firm Morrison & Foerster, LLP. In its annual “Global Sourcing Trends” report, the firm includes survey responses from its Global Sourcing Group lawyers in Asia, Europe and the United States to create a state of the outsourcing market across a variety of vertical markets.
It’s no surprise that as insurers sought to recover from financial woes brought on by the 2008-2009 economic crisis, they were weary of entering into new long-term outsourcing arrangements. Outsourcing in 2010 was flat over the year prior, and those deals that were made were largely restructuring of old deals, notes the report’s authors, Alistair Maughan (London), Chris Ford (Washington, D.C.), and Nigel Stamp (Hong Kong).
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access