In a more and more competitive insurance marketplace, as brokers, you must be more innovative with higher efficiency than ever. Cover Operation’s insurance back office outsourcing service helps retail brokers by relieving staff workloads, servicing accounts more efficiently and optimizing small account management. Thus, you don’t have to spend as much time on employment affairs like new hire training, employee benefits, recruiting, etc. With our help, you can have more time to consider reinventing workflows or accommodating more volume.
Cover Operation’s retail broker services are available across both Personal & Commercial lines, and Employee Benefits, letting your team focus on key accounts and processes. We will assist with timely certificate processing, retaining renewal accounts and accurately monitor your quality control.
Insurance Agency Outsourcing
Insurance agency owners contract out their non-revenue-generating activities to narrow their payrolls, improve efficiency and make their agencies more competitive. This kind of activity is called insurance agency outsourcing. It includes outsourcing operational paper work to BPO vendors, outsourcing claim related processes to TPAs and call center service to back office service providers.
In most cases, insurance agencies outsourced workloads to seek more efficient and productive results instead of doing the work in-house. The time-consuming low value workload is only used for new hire training for CSRs and assistants. Only for urgent processing requests, insurance agencies handle in-house. By outsourcing those work to off-shore teams, insurance agencies can liberate time and resources to improve their service level and improve their revenue.
The most important points are insurance agency owners desire to narrow their payroll to enhance the profitability. The benefits of insurance agency outsuorcing is in a line with agencies’ long term interests and it makes agencies become more competitive.