How Outsourcing Took an Insurance Company from the Worst in the Pack to No. 6
Outsourcing Center, Beth Ellyn Rosenthal, Senior Writer
The insurer’s sluggish processes and aging technology made it nearly impossible to introduce new products quickly. And its expense-to-premium ratio was 65 percent when the industry norm was closer to 20 percent. Outsourcing included a transformation. The result: In the last 18 months, Channel Life took on 450,000 new policies, four times the number of policies it had.