Outsource Insurance BPO Services

Outsource insurance BPO services to us to streamline and standardize your business service at lower costs and faster turnaround time.

Insurance Back Office Pro has over 8 years of experience in delivering efficient back-office support services to insurance carriers and agencies. Our services have helped our clients unlock new levels of business efficiency and bring about significant cost savings which is difficult to achieve given the recurring operational overheads in the insurance industry. Factors such as dynamic regulations propelling compliance complexity and costs, increase in natural disaster-led claims, increase in the ageing demography with medical claims, recurring healthcare costs and long-term insurance claims, and increase in product liability claims will continue to skyrocket costs and slim the chances of cost savings in the insurance industry. These factors render outsourcing insurance BPO services all the more critical and viable. From call center services to billing, claims management, fraud detection and customer relationship management, our bespoke insurance BPO services takes care of all your specific needs with best-in-class infrastructure, skilled manpower, and resources.

As a global insurance BPO services company, we offer well-rounded solutions to fit your requirements perfectly. The hallmark of our insurance BPO solutions include security and privacy of information, business process improvement, quality customer interaction, and analytical insights. Our proven track record of meeting quality expectations with fast turnaround times has helped us become a trusted service partner of numerous insurance companies. Outsource insurance BPO services to us for world-class back-office support services.

Our Comprehensive Insurance BPO Solutions

We deliver you a gamut of insurance BPO solutions tailored to your specific needs. Our solutions take into account the current business environment and so help you to adapt to changing conditions fast.

Policy Issuance

We help carriers and agencies standardize their policy insurance service. This in turn helps them issue clear worded policies with consistency. We have wide experience in casualty, property, individual, healthcare, life, accident, and workers compensation policy issuance etc. Our well-established quality parameters, which includes multi-level quality checks for declarations, definitions, coverages, exclusions, etc. ensures complete accuracy. As a BPO service for insurance companies, we aim to provide all the essential needs to our clients.

New Business Setup

From receiving quote requests to the setup of new customers, we take care of all the important procedures including the entry of customer information into the quoting tool. We adopt in-depth review procedures to ensure that only thoroughly verified and accurate information reaches the underwriter. We estimate all the requirements of the insurance process in BPO to set up new business associations with our clients. Our new business setup services improve the quality of your underwriting process significantly.

Claims Management

Our hands-on approach to claims processing includes a meticulous investigation process to avoid fraudulent claims. Our team of insurance experts is proficient in auditing claims support documents, estimation of the claim and checking eligibility to ensure claims are processed faster and in an error-free way. By leveraging our services, you can achieve procedural accuracy by up to 99% at reduced operational costs. As a one of the top insurance BPO companies, we take pride in providing our clients with the best of services in claims management.

Loss Run Processing

As one of the leading insurance BPO companies in the industry, we conduct diligent last round processing to verify the history of claims made on an insurance policy. We deploy dedicated personnel to analyze loss run requests and prepare the claims report. Our service makes the whole process simple and time-bound. Our clients have leveraged our loss run services to drive maximum sales.

Renewals Processing

As one of the best insurance BPO providers in the business, we enable you to effectively plan and manage policy renewals by keeping a track of all insurance policies that require renewals. We dispatch timely reminders and email notifications to customers on behalf of the agency or carrier. We review existing policies in detail to revise the premium based on the required adjustments. Our services as an expert insurance process outsourcing company enable you to focus on providing competitive prices for your customer during renewals processing.

Policy Administration

Our well-designed policy administration services help you offer best-in-class services to your customers and retain them in the long run. We handle your policy maintenance and servicing responsibilities down to the last detail to ensure that insurance policies are updated and fresh issuance certificates are released as and when required.

Our Insurance BPO Process

We follow a well-defined process flow marked with while complete transparency.

  • Requirement Analysis:We work closely with our clients to understand their requirements. We develop custom made service packages to suit their requirements. Developing the Service Level Agreement is done with great diligence to ensure a full understanding of the business requirements and foreseeable challenges.
  • Model Design:Based on the requirements of the client, we develop a business model. We implement the technology, SLA and other performance metrics into the model. Our models are designed to include objectives that align with our clients’ operational needs.
  • Contractual Negotiations- Based on the model of service, we negotiate terms of service along with the costs. This helps us customize the service package further.
  • Process Implementation:We deploy the services based on our sound understanding of the contractual agreements. We are equipped to handle spikes in the insurance process in BPO requirements and can keep pace with the changing needs of our clients.
  • Process Evaluation:We monitor our services constantly. We establish performance metrics to ensure quality levels are consistently met. In keeping with industrial standards, we practice quality management protocols in all our processes.
  • Feedback and Improvements:We receive client feedback and review them to identify opportunities for improvements. We introduce changes to improve our services and adapt them to the needs of the client. We prioritize good customer service to enhance our interactions with clients and refine our processes according to their feedback.

Our Insurance Business Process (BPO) Outsourcing Services Cater to the Following Verticals

  • Life Insurance
  • Personal Liability
  • Liability Insurance
  • Worker’s Compensation
  • Annuity Insurance Services
  • Property & Casualty Insurance
  • Motor Insurance
  • Liquor Liability
  • Inland Marine
  • Director & Office
  • Health Insurance
  • Employee Benefits

Insurance Software We Use

  • Vertafore
  • ABS
  • AgencyIntel
  • Board
  • InsurancePro
  • ClickClaims
  • Plexis
  • Aspire
  • Sas
  • Nexsure
  • A1 Tracker
  • Agency Systems
  • AgencyMatrix
  • Halo
  • QQCatalyst

Why Outsource Insurance BPO Services to Us?

We are committed to streamlining your business processes, establishing an effective outsourcing model to boost your customer service, and enhancing your profitability with full adherence to compliance requirements. We use modern day CRM systems and ticket management software to enhance the performance of your business processes. By choosing us as your insurance business process outsourcing partner, you get access to a team of highly trained, qualified professionals committed to excellence.

We collaborate seamlessly with your in-house teams to help you face any industry challenges. Our commitment to quality and SLAs has enabled us to transform our clients into high-performance business entities. Outsourcing insurance BPO services to leaders in the industry can be a profitable move for businesses looking to improve their process efficiencies, dramatically reduce costs, and enhance customer experiences. Other important benefits that insurance companies can enjoy by outsourcing their requirements include:

Rapid Turnaround TimeWith 8 delivery centers around the globe, our professionals work around the clock to deliver enterprise-grade insurance BPO solutions to our clients. We ensure that our processes are streamlined effectively so that all are services are delivered with rapid turnaround times.
Tailored SolutionsWe understand that every business is unique and so we design insurance BPO service workflows that meet your individual business requirements. We are careful to develop solutions that set your business apart from your competitors so that you have a differentiated competitive advantage.
Proven ExpertiseYou get to work with highly qualified experts when you outsource BPO services who can help you with claims management, loss run processing, and policy issuance. Our professionals will use their proven business expertise to streamline your processes and deliver high-quality services.
Lower Operating CostsWe help you reduce your operating costs by relying on skilled insurance BPO personnel that come at a fraction of the cost of hiring them in-house. Our services are comprehensive so you can also cut costs by eliminating the need to invest in additional infrastructure as well.
Pioneering TechnologyWe leverage the most sophisticated tools and technologies in the market to streamline insurance BPO processes so that they become quick and efficient. We also use advanced analytics tools to drive greater efficiencies and enhance your business performance in the process.

FAQs on Insurance BPO

The insurance business process outsourcing (BPO) service allows insurance companies to outsource various back-office tasks like policy checking, COI processing, claims management and policy administration to third-party service providers like insurance BPO companies. Insurers typically do this to help them handle the large administrative burdens that processing insurance documents entails.

As an ISO 27001:2013 ISMS and SSAE 16 (SOC 2) certified organization, we keep all data, from financial data to policy information, secure and confidential. We have numerous security protocols to fortify the security of our assets including financial information, intellectual property, or employee details. We also ensure that our virtual document storage service is well insulated so that we there is no data breaches when carrying out data transfers. We make use of 128-bit AES key encryption to keep client data confidential and impregnably secure.

Our specialists can begin operations within 2 weeks of signing the contract. They can set up the required software and systems to handle your insurance BPO needs in that time. They can also better understand how your business operates to fully cater to your needs.

Insurance BPOs provide a host of back-office services from renewals processing, policy issuance, and claims management to new business setup, policy administration and loss run processing.

Outsourcing services are basically services that insurance BPO companies provide as third-party service providers to insurance companies. These outsourced services are often time-consuming in nature and require skilled professionals and technologies to manage effectively. Some outsourcing services that insurance BPOs commonly provide include loss run processing, claims management, and policy administration services.

There are many benefits to outsourcing insurance BPO services. These include lower operating costs because often insurance BPOs are located in countries with low cost labor. You can also benefit from a vast talent pool of highly skilled resources as outsourced personnel can be drawn from across the world to assist in a specific function or service. Other benefits include faster turnaround times from working from multiple global delivery centers and access to the most cutting-edge technologies and IT infrastructure.

BPO in insurance stands for Business Process Outsourcing. It means contracting certain business functions to specialized third-party service providers that will help you cut down your operating costs, enhance your process efficiencies, and improve productivity across the firm.

If require some sales information or pricing quotes, please feel free to email us at info@insurancebackofficepro.com. You can also fill the form on our website and we will get in touch with you within 24 hours.