Insurance business process outsourcing (BPO) services: Smart way to run and grow your business
Cost reduction and business growth – what if you could achieve both?
Several challenges cloud the insurance landscape of today. On one hand, insurers must deal with intense competition and stringent regulations. On the other hand, they grapple with thinning operating margins. Ever-increasing customer demands for best-in-class services make the market even more challenging. Operating in such an environment is a tough proposition. Merely reducing cost of operations will not get you very far. You need to strategically assess your organizational resources and adopt an innovative approach. This way you can not only improve business operations but also grow faster than your competitors.
How do you optimize resources to drive business benefits?
Traditionally, BPO has been perceived as a means to reduce operating costs by leveraging the benefits of labor arbitrage. While this, for the most part, still holds true, insurance companies are increasingly realizing that there is much more to be gained from outsourcing – a wider range of benefits in fact. Outsourcing can completely transform your insurance operations, providing greater flexibility by freeing up valuable resources. Improved bandwidth for your resources will result in better quality control and increased market agility. All of these can be achieved but only if done right. What you need is a partner who understands your business and technology. Most importantly, the partner must have the skill and experience to bring all the success ingredients together.
We handle your operational needs, so you can focus on the 'core'
Infosys has extensive experience in insurance business process management since 2003. Our BPO services enable and promote cost-effective and efficient business processes across the insurance lifecycle for all insurance segments – property and casualty (P&C), life and annuities (L&A), and reinsurance.
We can help enhance your business with a globally sourced Insurance Outsourcing Operating Model, which ensures the right governance structure, metrics, and risk mitigation mechanisms are identified and implemented into your outsourced processes. We offer a wide range of services and solutions to meet your insurance outsourcing requirements.
A comprehensive suite of combined outsourcing and technology services
Our proprietary platform-based solutions and Global Delivery Model enable significant cost savings through near-shore and offshore delivery models. We can efficiently take over your non-core operations while your senior management can focus on core business strategies and activities.
We focus on business processes improvement, quality customer interaction and leveraging analytical insights to improve decision-making, revenue growth, and profitability. With deep subject matter expertise and Six Sigma tools and strategies that drive efficiency in processes, we offer embedded BPO and technology solutions to help you enhance your business.
A growing number of carriers are reaping the business benefits that come from combining coordinated BPO coordinated services and IT services sourcing. We integrate both these capabilities to deliver a comprehensive, customized solution not only to support your business processes, but also to enable the IT assets that underpin them. Our insurance outsourcing services will enhance your competitive position by helping you:
- Increase efficiency, responsiveness, and consistency
- Lower your investment threshold to enable innovation
- Achieve business agility and quality
The Infosys advantage
Infosys offers a comprehensive range of BPO services that integrate seamlessly across your business organization. We are a leading insurance outsourcing provider with over 1,200 associates delivering services – supporting 15 languages, through eight delivery centers across the world. Overall, we have a global resource pool of over 20,000 experts, delivering a range of horizontal and industry-specific BPO services for clients. Our drive for innovation and comprehensive suite of capabilities make us a compelling business partner. Our Insurance BPO services will help you:
- Enhance and differentiate customer and producer service
- Lower operating costs
- Improve competitiveness
- Increase speed-to-market for new products
- Improve process performance on a continuous basis
- Develop the flexibility to adapt to a changing business and regulatory environment
- Improve risk control mechanisms
Know more about Insurance BPO services
Infosys Insurance BPO practice
Life Matters – Infosys BPO journal on next-generation insurance