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5 Tips to Find A Qualified Insurance BPO Provider

Due to business recovery around the world, insurance firms are finding productivity improvement from outsourcing companies. There are hundreds of BPO companies in the market, most of them are not specialized in the insurance industry only. Today we would like to introduce some simple steps to help you find a qualified team.

1. Operation Manager Investigates the Insurance Outsourcing Vendor

An excellent insurance outsourcing team can be an extension of your operation team. Based upon different working standards, email writing intelligibility, adjustment ability, working habits, the operation manager is the only person to determine whether the service vendor is a good fit for their team.

You should create a temporary workstation and test which tasks you would like to contract out.

  • Create a temporary workstation and TEST insurance system account
  • Set authority of access and editing for test behavior only
  • Provide the target task procedure and other essential info
  • Schedule a processing show with vendor
  • Watch the process and make notes
  • Shut down the workstation immediately and change the password after TEST
  • Monitor the work result and evaluate their performance

2. Insurance Owner/CEO Investigates the Contract Terms

The insurance business owner or executive officer is responsible for preventing the company from potential risks and to budget the fees, such as

  • Information security protections
  • Pricing and renewal contract growth ratio
  • Daily production and efficiency
  • Task turnaround time
  • Special conditions
  • Exit mechanism

3. CEO/President Meet With The Operation Manager To Make Decisions

4. Engage The Free Trial Service And Get Insight For The Items Below.

  • Task understanding via process
  • Operation accuracy and efficiency
  • Language barrier in email communication
  • Report and Procedure Standards

5. Something You Also Need To Pay Attention To:

  • Never ask the vendor to show the process of other insurance agency’s workstation. This is a direct violation of vendor’s confidentiality agreement with their client.
  • Confident companies often provide a long free trial. You will be able to have insight on almost everything about their service through a 30-40 days free trial.

With the 5 steps above, your insurance teams will successfully find a qualified outsourcing team to support your day to day operations. Enjoy the power of team work with your outsourcing partner!

Written by Cover Operation

Cover Operation boosts insurance business performance by leveraging insurance knowledge, methodologies and technology, and helping insurance organizations as their outsourcing management team. Our team of global professionals enable agencies, MGAs, wholesalers and carriers to supercharge their performance, productivity and profitability. Cover Operation's insurance operation optimization and specific workflows will exceed your expectations of traditional insurance outsourcing in 2024.