Sweeping change is difficult for any organization. But in an industry such as insurance whose operations are tethered to a complicated aggregation of legacy systems, will the organization’s ability to adapt and embrace cloud-based technology be especially challenging? Cloud-based products represent the industry’s greatest opportunity to move the dial forward. Implementation of private or public [...]
It’s not easy being an independent insurance agent these days. Margins are down, the market is soft and direct sellers are promoting a virtual, ‘click-and-pick’ approach to an industry traditionally built on personal relationships and trust. To increase profitability, these agencies have to run lean, automating as many processes as possible. However, even with the [...]
WNS is a leading global Business Process Outsourcing (BPO) company. Founded as British Airways’ captive back-office in 1996, WNS has today risen to a leadership position with more than 200 global clients, serviced by over 21,000 professionals across 23 global delivery centers worldwide, including Costa Rica, India, the Philippines, Romania, Sri Lanka and United Kingdom. [...]
More than half of the transactions within the US healthcare industry are still paper-based. In addition, there is a processing lag if the payment is paper and the remittance is electronic. Several major challenges plague the healthcare industry’s quest to automate the payments process, and many healthcare providers, billing companies, and banks serving healthcare providers [...]
Insigma Technology Co. has a proven track record as a great partner for organizations looking to transform their business. We help companies bring innovation to their business. We are especially known for creative thinking and innovation around complex IT and business issues. We help our clients move beyond their operational constraints, differentiate their products and [...]
Wipro Limited is the world’s first PCCM Level 5 and SEI CMM Level 5 certified IT services company. Today, it is a diversified global business conglomerate with a profitable presence in niche market segments of IT solutions and services, consumer products, lighting, furniture, ecology and energy management, water treatment, and hydraulics. Major group companies include [...]
Changes in technology and the business landscape and new government regulations forced Equity Insurance Group to implement strategic changes to remain competitive. Offshoring to WNS was so successful the parties added gain-sharing in the second contract.
U.S. News & World Report named Harvard Pilgrim Health Care the No. 1 commercial health plan for the last three years. That’s a dramatic recovery from the deathbed days of 1999 when the insurance company lost $227 million and fell into receivership. Outsourcing was the transfusion it needed.
A Puerto Rican property and casualty company wanted to expand into the United States. The only way to become profitable quickly was to outsource its back-office support. The two partners developed a process to add on new states. Today Universal Insurance can get a new state up and running in 110 days instead of 18 months.
XL Insurance recognized an opportunity in the U.S. casualty marketplace and decided to swiftly expand into the casualty risk management business through a new portfolio of products. But XL’s limited internal resources and fast timeline threatened the venture. Outsourcing made it happen.
Consumer-directed healthcare (CDH) is causing payors to determine how to meet the challenge of adjusting existing technology so it services individual clients, not just groups. Payors have four choices. One of those, a CDH defined-care platform in an outsourced model is finding great success in the marketplace. Here’s why.
Offshore claims processing has traditionally been cheaper than in the United States for obvious reasons-the price of keying in data overseas is a fraction of what it is here. Antares Management Solutions, a third-party claims administrator, was considering going overseas when it discovered a better solution from GTESS.
A Florida property and casualty company wanted to add flood insurance to its product line but couldn’t find the IT dollars to add a new application. Outsourcing did that seamlessly.
A 2005 study on outsourcing and insurance subrogation reveals why some insurance carriers are looking to outsource subrogation and others are hesitant. Another interesting finding: reducing costs is not an objective.
Mortgage lenders need assurance that the proper hazard insurance coverage is in place for the loans they issue. But that comes with significant headaches and unnecessary costs for lenders that still do their hazard insurance processing and tracking in house. Here’s what the leaders are finding as benefits in outsourcing this process.
INSURANCE UPDATE:
\x0d\x0aBusiness transformation and end-to-end solution for insurance administration, all rolled into one package…plus, best practices in shared services for anchor clients.
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