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SlideShare utilise les cookies pour améliorer les fonctionnalités et les performances, et également pour vous montrer des publicités pertinentes. Si vous continuez à naviguer sur ce site, vous acceptez l’utilisation de cookies. Consultez notre Politique de confidentialité et nos Conditions d’utilisation pour en savoir plus.
A Sildeshare presentation covering a huge information on insurance backoffice services to improve the work efficiency of your insurance business. Also find out the Key Challenges and Drivers of insurance backoffice; to earn more business benefits.
Shape a High Value Insurance Business by Outsourcing Insurance BackOffice Services
Shape A High Value
Insurance Business By
Insurance BackOffice Services
C O G N E E S O L
Insurance & Its Challenges:
According to Investopedia,
Insurance is a contract, represented
by a policy, in which an individual or
entity receives financial protection
or reimbursement against losses
from an insurance company.
I N S U R A N C E
Both traditional and commonly
accepted business models are
now being challenged. In this
context, insurers consistently
face operational challenges,
including improving expense
ratios while ensuring that their
pricing remains competitive.
C H A L L E N G E S
The various challenges
facing the Insurance BPO
Challenges You May Be Facing
Multinational companies setting up their own captive centers
The big global customers are showing an increasing preference for
the large and global technology service providers for sourcing their
IT needs, having strong BPO division.
Cost saving is not only the reason for outsourcing. Companies are
looking beyond the cost factor such as value added services.
Selecting Insurance Plans Using Needs Analysis
Property- It includes equipment, real estate and other assets.
Business Volume- The amount of accounts receivable and the average
cash flow of the business.
Salaries- How much you pay yourself and however many employees the
Overhead- The cost of running the business including rent, utilities and
other miscellaneous expenses.
Future Trends and the Local Economy- How future trends and the state
of the local economy will affect the business in the future.
Some of Key
There are some key drivers of insurance
FOCUS ON CORE
SPEED TO MARKET
MINIMIZING THE RISK
BPO that are
Role of Call Center
Role of Data Processing
Role of Data Mining
Role of IT Services
Role of Underwriting
Role of Finanace and
Role of Call
A dependable call center outsourcing
service provider that offers best-in-
class inbound and outbound solutions
can help insurance companies meet
regulatory requirements, enter new
markets by proving superior services
and maintain customer loyalty.
Role Of Data
The various data processing services
that insurance companies could benefit
from include accurate data entry tasks
from paperwork that is received from
the customers, data entry from business
transactions such as sales of insurance
policies, receipts and bills.
Outsourcing data mining allows
insurance companies to identify risk
factors that can predict profits, losses
and claims apart from providing
customer level analysis, sales and
marketing analysis, financial analysis,
estimating outstanding claims provision
and predicting fraudulent claims.
Role of IT
Using state of the art technology can
help insurance agents to quickly
respond to customer’s needs and
provide accurate information to
customers concerning insurance
The process of underwriting allows
insurance companies to determine how
much premium should be charged for a
particular policy. Insurance
underwriters, as they are called,
thoroughly evaluate insurance
proposals to determine its feasibility
and the amount of risk involved.
To design, transform & run finance,
billing and accounting associated
functions to improve cash flow and
increase customer satisfaction by
bringing about improvements in the
end-to-end processes that integrates
and streamlines enterprise wide billing
and collections, reconciliation and