What is Insurance Virtual Assistant Services?
Insurance virtual assistant service is the same as insurance outsourcing (insurance BPO). Typically, the remote insurance processors provide operational support to insurance companies, insurance agencies, and even insurance third-party claims administrators by logging onto clients’ desktop or terminal server. Today, we are going to share some bullet points for you:
Agreements & Partnership:
If you find a qualified insurance virtual assistant service team, you may think about having a long-term stable relationship with them but not change from time to time to scatter your operation team’s energy and performance. Actually, your insurance virtual assistant service partnership is based on agreements. In this section, insurance agency CEOs and presidents should be very careful about the annual price increase. A flat growth is much safer than a 3-5% annual growth. The annual percentage increase can become a very large expense after 6-8 years. At that time, you will have to think about pursuing a new team. With all that mentioned above, you will be able to know how to use insurance virtual assistant services.
Security and Authority:
Employing an insurance virtual assistant just likes to invite people you can’t see but living in your home to work for you. It makes you have no privacy and is uncomfortable.
Thus, it is an insurance business owner’s first priority to ensure your information security. Actually, insurance agencies can simply be safe when working with insurance virtual assistants by doing some systems authority setting.
- Grant Work Related Folder Access Only
- Ban Reporting Function in Your Agency System
- Ban Critical Client Access
- Ban File Uploading
- Restrict Login IP and System Available Time
Efficiency and Productivity:
Insurance virtual assistant services are full-time equivalent (FTE) services, which means the person designated to your operation team should provide a full-time employee production. As most countries have labor legislations stating your off-shore insurance virtual assistant should work about 8 hours a day and 5 days per week, we can easily treat the standard working time as 40 hours/week.
Then the question is how much work your insurance virtual assistant can do on a daily basis. It depends on vendor’s service quality, including insurance knowledge, email understanding, agency system proficiency, troubleshooting efficiency, processing supervisor experience, typing speed and connectivity speed.
The best way is to classify your process and create a certain process with corresponding task procedures. Then you are able to deliver the tasks and finalize the per item/transaction average processing time with your insurance virtual assistant services provider. Finally, it is not hard to calculate how many endorsements, policy checking, and cancellation processes they can handle each day.