What is BPO in the Insurance Industry?

Economies of scale are a key concept for any business trying to gain a competitive advantage. Companies within the insurance sector are no exception. Stringent regulations and cut-throat competition have pressured many insurance agencies to look outside the box for more flexible business models. Outsourcing is one strategy that provides great flexibility to scale up as needed while improving customer experience and satisfaction levels.

When profit margins are shrinking, and skilled manpower is too expensive, outsourcing non-critical tasks can be an efficient solution. BPO service for insurance companies lets your agency achieve economy of scale by increasing production and lowering costs.

Customized BPO services for insurance companies

Business Process Outsourcing (BPO) services are meant to be an extension of your own company. Whether you need to scale up for a short-term campaign or want to grow your company’s brand without incurring high operational costs, your specific needs and goals can be met. Established BPO providers can develop a service package that is customized and doesn’t tie you down with lengthy contract terms.

As an example, EB Call Center in the Philippines features service contracts on a month-to-month basis, with zero set-up fees. Agents are college-educated, speak fluent English, and leverage extensive expertise in their chosen field, be it IT, customer service, accounting, or data analytics.

Outsourcing means access to not only talented agents but also state-of-the-art technological infrastructure.  Customer queries are seamlessly handled through omni-channel platforms, including social media, email, phone, texts, and chat.

Achieve a global presence & boost in-house efficiency

BPO offers another vital advantage to companies within the insurance industry–a global presence– that operates across various time zones and in multiple languages. Call center agents are available around-the-clock, 365 days a year. It’s no secret that exemplary service drives customer loyalty. Answer calls and resolve disputes promptly and watch your business thrive.

As market demands fluctuate, you want the capital and manpower to stay agile, without spending valuable time and money on repetitive office tasks. Hiring a peripheral staff to handle back-office needs like renewals processing lets you concentrate on essential initiatives to take your company to the next level.

Whether your company offers Annuity insurance, Life Insurance, or Property Insurance, there are a host of back-office tasks that can be outsourced:

• Appointment setting
• Customer inquiries and resolution
• Bill payment and processing
• IT support
• Policy changes and verification
• Underwriting support
• Claims processing
• Accounting
• Data entry and management
• Customer loyalty programs

Executive Boutique for insurance back-office needs

Executive Boutique Call Center is a trusted third-party Philippines business process outsourcing center. Our professional agents are experts in their niche and well-versed in insurance industry best practices and regulations. Realize the long-term benefits of our affordable solutions to help your business maximize revenue while lowering operational costs.

Find out how EB Call Center can help your insurance company quickly scale and grow. Reach out to request a free quote.