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8 Tasks You Can Outsource to an Insurance Outsourcing Vendor - Taking You Forward, Inc. - ContactCenterWorld.com Blog

8 Tasks You Can Outsource to an Insurance Outsourcing Vendor

A financial institution is running out of cash, and a company that aims to guarantee people’s financial future is now bankrupt and awaiting bailout. How ironic, and entirely possible for many companies in the financial industry that still cannot decide which processes define their business and which do not.

 

For insurers who are still trying to figure out the benefits of outsourcing, the axiom “do what you do best, and outsource the rest” should come to mind. It is high time for insurance companies to focus on the activities that best connect them with their clients and meet their needs. For this, they should look to outsourcing as both an opportunity and a strategy that will help them transform their company, operate more effectively and efficiently, offer better services to their clients, and become more financially stable.

 

To achieve these goals, insurers must delegate to insurance outsourcing providers their back-office and administrative processes, which include:

 

  1. Customer support – Ensure better service for your clients by outsourcing your customer support to an inbound call center that can manage customer concerns and queries through multiple channels including voice, chat, email, and social media on a 24/7, 365-day basis.
  2. Telemarketing – Be efficient not only in operations, but also in customer acquisition. Outsource your outbound sales to a telemarketing expert who can attract new clients and upsell new products and services to existing clients.
  3. Marketing – For a fraction of the cost of keeping an in-house team, you can already contract an outsourced team of web specialists and online marketers who have the necessary tools and strategies to promote your company across all channels and push your website to the top rankings.
  4. Data entry – Having to deal with large volumes of data and transferring them to a database-ready format (to quickly verify claims and easily process payments) makes data entry work tedious and time-consuming. Why not outsource data entry to an outsourcing provider that offers exceptional data processing service?
  5. Loan processing – Why keep a process that is evidently tedious, complicated, and time-consuming? If you want to benefit from a faster, easier, and more economical process that delivers better results and more output, then outsource.
  6. Bookkeeping – Keeping a full-time bookkeeper won’t be worth the money since the task is performed only one or two days a month. To make or save more money, outsource the task of bookkeeping to get better financial reporting.
  7. Payroll processing – Outsourcing your payroll to an insurance outsourcing provider can ensure the confidentiality of your books. By entrusting your accounts to a trusted and reliable third party, you can protect your account from prying eyes in your company.
  8. Accounts payable/receivable – Benefit from an outsourcing provider’s solutions to process invoices and collect payments more easily and quickly. Minimize the need for in-house resources while cutting the cash cycle short.

 

For insurers, achieving greater financial stability is not a dream but a goal to achieve in order to set an example for their clients who will one day come to them for their needs.

 

Is your insurance firm ready for outsourcing? Let Taking You Forward, a Philippine-based inbound call center offering back-office processing for financial businesses, know. Drop us a line and let’s see how ready you are.

Source: http://www.takingyouforward.com/blog/financial-services/8-tasks-you-can-outsource-to-an-insurance-outsourcing-vendor/

Publish Date: July 7, 2016 5:00 AM


2021 Buyers Guide Payment Services

 
1.) 
Branch

Branch Employer Payments Platform - Earned Wage Access
Give employees instant access to a portion of their earned wages before payday! Branch helps businesses modernize their payment methods to empower working Americans. Earned wage access—with no-fee banking and access to a digital wallet and free debit card—are just some of the tools in our fast, free, and flexible platform. With Branch, businesses streamline existing payroll processes, save money, and provide faster payments and free digital banking to their employees—no pre-funding or capital required.
PH: 612-601-1095

2.) 
Eckoh

CallGuard, ChatGuard,
Securing payments for on-premise or remote agents for telephone, IVR, web, mobile, Chat and Chatbot.

A patented technology that is flexible way to take secure, PCI DSS compliant payments via live agents over the telephone, web, Chat, Chatbot, or IVR. No sensitive data enters the contact centre environment so, agents do not see, hear, store or record any card or personal details.

CallGuard can be deployed in various ways to fit the way your contact centre works. The solution can de-scope all, or parts, of your contact centre from the scope of PCI DSS compliance and works just as well for on-premise or home/remote working agents.

ChatGuard makes payments in Chat PCI DSS compliant and...
(read more)
PH: 01442 458300

3.) 
PayGuard

PayGuard®
Award-winning PCI compliance phone and multi-channel payment application.

PayGuard® is easy to deploy, very easy for agent to use from the office/contact centre or from home and is affordable.
PH: 03333 660 160
 



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Weekly BPO News: April 18-21, 2017April 28, 2017 5:00 AM
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