Businesses face mounting pressure to decide between in-house, outsourcing, or hybrid models. The insurance sector is no exception. For insurance claims management, the line between insourcing and outsourcing blurs. If an organization has a robust in-house team, outsourcing may not be necessary for better quality and cost-effectiveness. In the claims dome, countless processes can be...
The insurance sector faces numerous challenges when it comes to client satisfaction. Why? The insurance agency has a number of claims to process, policies to sell, and put in maximum efforts to acquire new clients. But are you aware of the statistics that insurers spend five times more on acquiring new clients as compared to...
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...
It is contradictory to understand that digital technology has made business processes more efficient and companies these days are advised to embrace its benefits. Moreover, digital technology has driven some companies to become clear market winners, but for many companies its impact has exhausted corporate earnings and destroyed the overall value of an industry. So...
