Insurance Services Outsourcing – A Foolproof Solution to Avoid Insurance Fraud

by Mika Edword Service Associate at Cogneesol, business outsourci

As an insurance business owner, you will come across certain things in your line of work which is as important as your time. However, handling these tasks simultaneously means that your precious time runs out.

 

Well, in that case Instead of wasting time with back-office tasks that anyone can do, or paying for a full-time employee to handle them on a daily basis, you can inexpensively outsource many of these tasks.  You can use that "extra" time to chase leads, arrange new policies or upgrade products with existing clients.

 

Outsourcing an insurance firm's back office tasks is an incredibly wise decision that can ultimately save you time and money even though you pay for services.

 

Over the last decade, insurance outsourcing has evolved to meet market needs. Like in many developing industries, outsourcing providers have taken different approaches to serve insurance clients. 

 

Tips to choose the right outsourcing partner:

1)    Figure out what tasks you can outsource as per your company needs.

2)    Check the work efficiency of your outsourcing partner by taking free trials.

3)    Select a partner with whom you can work seamlessly on a daily basis. Language and time zone matters!

4)    Check their turnaround time. 

5)    Negotiate and carefully review the contract before signing to avoid productivity-killing misunderstandings.

What can you outsource?

• Back-office tasks
• Policy management
  
• Policy Renewal
  
• Claims management
  
• Policy Issuance and Checking
  
• Commission management
  
• Accounts Management
  
• Agency Management
  
• Loss Runs Processing
  

 

If you don’t have the right expertise and sufficient infrastructure to carry out these activities, you should definitely consider outsourcing.

 

So, why struggle with all of these back-office tasks when you can outsource them?

 

Smart insurance companies outsource their tasks, and so should you!

 

For more assistance, feel free to contact us at info@cogneesol.com.

 

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Created on Nov 22nd 2018 05:23. Viewed 942 times.

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