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Insurance Business Process Outsourcing

Insurance companies face several challenges, such as manpower, rising costs, digitization of systems, and changing regulatory landscape.  Custom insurance business process outsourcing solutions.

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THE CONNEXT DIFFERENCE

What makes the Philippines a top choice for business process outsourcing?

The Philippines is an ideal staffing destination with its rich culture, high literacy and communication. Today, the Philippine BPO industry has over 1,000 companies, including both providers that cater to both the Small to Medium Enterprise/ Small-Medium Businesses (SME/SMB) and global markets.
The country is regarded as a highly literate and proficient English-speaking country. This is important in business process outsourcing especially when understanding tasks, communicating with clients, and interpreting important assigned documents.

When outsourcing to the Philippines, you have access to a wide, highly specialized talent pool with the right technical skills. The Philippines also has a highly specialized talent pool with employees who have worked for large multinational and business process outsourcing companies.

Trained professionals are experienced in handling insurance processes, regulations, and compliance requirements.

Businesses also have the option to enhance the professional development of business process outsourcing professionals by conducting seminars and information campaigns to further the professional growth and meet compliance with professional standards and regulations.

Investors outsourcing business processes to the Philippines are eligible to fiscal and non-fiscal incentives. Philippine tax laws were legislated to promote investments in the growing Philippine BPO industry.

Insurance functions you can outsource

Insurance Process Specialist/Analyst: These professionals have in-depth knowledge of insurance processes, rules, regulations, and best practices. They analyze the client’s requirements, design process workflows, and ensure that the outsourced processes align with industry standards.

Connext Global Solutions helps companies build custom, dedicated support teams in the Philippines.

  • 60% Client’s Average Cost Reduction
  • 98% Work Retention
  • 100% Client Retention Rate
  • 40+ Satisfied Clients
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Insurance Business Process Outsourcing with a record of delivering high-quality services

Claims Processor

Outsourced Claims Processors review insurance claims submitted by individuals or businesses, verify the claims information indicated, calculate and process claims payments and determine the coverage and eligibility for claims based on policy terms and conditions. They can work for individuals or specialized industries such as insurance companies, healthcare providers, and customers to ensure timely and accurate claims processing.

They communicate with insurance companies, healthcare providers, and customers to obtain necessary information and resolve claim issues. They also maintain accurate records of claims information and transactions and ensure compliance with regulatory requirements and guidelines.

Underwriters

Underwriting support specialists are responsible with managing high volume insurance applications. They properly evaluate insurance applications, determine the level of risks involved, and approve or deny insurance coverages. By outsourcing the underwriting process to a trusted BPO provider, companies save time and resources while maintaining the accuracy and quality of underwriting functions.

Policy Administrator

Policy administrators manage the administration and maintenance of insurance policies, from managing policies from start to finish, including policy setup, underwriting, to ssuing. They can also assist with policy changes, updates, and renewals, make sure clients receive updates on their policy changes by informing them, answering policy-related queries, and properly documenting these updates.

Customer Service Representative

Businesses can delegate the first point of contact of customers to customer service outsourcing specialists to manage both outbound and inbound phone calls, and other functions such as answering customers’ claim status updates, premium payments, and general insurance-related queries, and helping policy holders with policy information.

Data Entry Operator

Data entry operators are responsible for accurately entering and updating data into insurance systems. They input policy details, claims information, customer data, and other relevant information into the designated databases or software.

Quality Assurance Analyst

Quality Assurance Analysts is a professional who ensure operations meet the required performance standards, identify areas for improvement, and ensure compliance with industry standards. They ensure efficiency and accuracy by providing process such as recording metrics, checklists, and so on regarding issues encountered in the insurance process.

Back-Office Support Staff

Back-office support staff perform various administrative tasks that support the insurance operations. This may include document management, file organization, record keeping, generating reports, and other administrative duties.

Team Leads/Supervisors

Team leaders provide overall support to their team members. They are responsible in overseeing and monitoring the day-to-day functions and daily operations of the team. They therefore need to have the ability to identify objectives, problems, analyze and interpret data, draw valid conclusions, and make sound decisions.

Also, the team leader assists the team members on workflow processes and ensures timely, accurate, and efficient processing of tasks given by the client.

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How it Works

We help insurance companies build dedicated support teams in the Philippines.

1. Assess

Understand your business needs so that we can build a team to supercharge your growth

2. Recruit

Screen, interview, and endorse candidates that meet your specific qualifications

3. Train

Help you train your team for optimal performance

4. Evaluate

Conduct quality audits, evaluations, and feedback loops to ensure your team is performing to standard

5. Execute

Full production of your team with ongoing management support and consulting from Connext

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Insurance Business Process Outsourcing Case Studies

We continue to help and educate at all levels of the back office services industry

Cost and Process Improvement for Title and Escrow
Process Automation – Financial Services
Connext Global Solutions – Loan Automation
Title and Escrow Automation
BPO and the Evolution of the Modern Back Office Services
Customized Staffing Solutions

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Connext ranked as one of the Best Workplaces in the Philippines 2023. Read More