The insurance industry has lagged in adopting new business practices. But today many are choosing insurance BPO; the same might be the future of the industry.
Along with big e-commerce companies, technology has impacted insurance businesses as well. The way customers shop online products is the same way they can buy policies as per their requirements. It might sound weird, but it is the reality. Insurance businesses have left behind their obsolete way of working and embracing various technologies for their...
Insurance Process Outsourcing: A contemporary buzzword, outsourcing has been a longstanding practice with roots tracing back over time. It wasn’t until 1989 that outsourcing gained official recognition as a strategic business approach. In the 1990s, amid efforts to enhance financial well-being, businesses conceived the notion of outsourcing non-core tasks, laying the groundwork for Insurance Process...
Outsourcing is often conceived negatively by the insurance organizations, who link it with downsizing. But for small scale or medium sized insurance enterprises, it offers cost-effective growth options. Insurance business process outsourcing helps in giving priority to the more important tasks of the insurance organization. It also helps in saving the costs incurred on infrastructure...
