The insurance industry has experienced a major blow due to the pandemic situation. Hundreds of billions of dollars were lost as insurance companies had to immediately respond to the extraordinary circumstances of widespread illness and loss of life, severe business disruptions, and economic instability.
There is a silver lining as insurers are adapting to customer requirements in the New Normal scenario. As this continues, it is projected that the insurance industry will continue on its road to recovery and growth.
The industry remains highly competitive, even as insurance companies are struggling with high turnovers and keeping up with the demands of customising and pricing their products. It is in this environment that insurance BPO services will play a key role to support operations and drive business prosperity.
If your business is involved in the insurance industry, outsourcing certain functions can bring improvements in the following areas:
- If you need to upgrade your insurance services by digitising processes.
- If you don’t have the appropriate resources to manage Big Data and to provide reliable customer service outsourcing.
- If you have to initiate and apply cost-efficient procedures aligned with Model Risk Management (MRM) 2.0.
- If you need to expedite claims processing or insurance-related approvals with a dedicated remote staff to perform back office duties or to work in 24/7 customer service.
The Philippines is recognised as a global hub for outsourcing services as it is proven to be a cost-efficient and reliable solution to handle these issues. Low cost of living, excellent proficiency in English, and a highly skilled, well-educated talent pool — these are among the advantages of offshoring in the Philippines that you can benefit from.
Twoconnect can provide the manpower, infrastructure, and resources to build your offshore staff in the Philippines. Through a thorough analysis of your business needs and a stringent recruitment process, we’ll make sure you’ll only get the best candidates to perform various responsibilities as required in your insurance company.
Our thorough onboarding process will seamlessly integrate them into your corporate structure and environment, giving you full control so you can be assured of the same high quality of work that you expect from your own local team. The best part is that your profit margin will not be compromised as you’ll enjoy savings of up to 70% on labour cost.
We also provide updated IT infrastructures, well-managed workstations, and employee engagement activities so your offshore staff will remain productive and motivated as they perform their work ranging from claims processing, customer service, policy and commission management, insurance accounting, financial reporting, and actuarial services. We also make sure that our facilities and procedures are compliant with government-mandated regulations and meet the standards of your local requirements.
Through our finely tuned recruitment process, we can source the most qualified candidates for the following job roles to assemble your offshore staff. Whether you need a small team or a whole department, we can scale it accordingly.
- Claims officer
- Quality Analyst
- Customer Service Associate
- Policy Processing Officer
With Twoconnect, you’ll get affordable, dependable and scalable support in your business endeavours so you can focus on your core capacities to improve profit margins and develop strategies for business growth.