Insurance Process Outsourcing?
Businesses need to continually show increasing profit in order to remain energetic and viable. Public or private, enterprises are constantly under scrutiny by investors, regulators, or financial institutions. They need to maintain a public image and a an online presence that will continually promote new customers. They need to invest in new technologies to keep up to date with current social trends.
The insurance industry is a prime example of how successful firms, no matter how large or small, can thrive, while others flounder and fail.
In any business the bottom line is the bottom line. There are fixed operating costs that seem to only increase, no matter what you do to reduce them. In the Insurance Industry, here are some prime examples:
Escalating government regulation
Increased administration & compliance costs
The effect of Climate Change on increasing damage claims from fires, floods & hurricanes
Aging populations with increasing medical claims
Rising cost of health care & long-term insurance claims
Huge & increasing product liability claims
These escalating costs don’t seem to have a ceiling. With each year they bump up another 12- 20%. It’s no wonder that Insurance Back Office Process Outsourcing is becoming not just an attractive possibility, but essential to survival in the 21st Century business universe. And if you’re going to use outsourcing, there is just one Insurance BPO to handle everything for you.
Insurance BPO Services We Offer
Our Insurance BPO Services can handle everything your back office does now. But handle it faster, with more accuracy, at a lower cost, using better hardware and software. At Rely Services you can outsource insurance claims processing with complete confidence.
Insurance Claim Management
A key part of the insurance policy administration process, claims processing is “the fulfillment by an insurer of its obligation to receive, investigate and act on a claim filed by an insured”. Insurance claims business process outsourcing will free up your staff to concentrate on your core business.
Insurance Data Entry
For insurance purposes, data refers to unstructured and/or structured data being used to influence underwriting, rating, pricing, forms, marketing and claims handling, and to more accurately underwrite, price risk and incentivize risk reduction.
Insurance Underwriting Services
Insurance underwriters use computer software programs to determine whether an applicant should be approved. Insurance underwriters evaluate insurance applications and determine coverage amounts and premiums.
Billing and Accounts Receivable Insurance
Insurance Receivable Accounting is created in AFIS to trigger the billing for goods or services provided or in anticipation of the receipt of money. Accounts Receivable generates invoices, statements, or both, to bill customers.
Policy Checking Services
Part of the insurance policy insurance process includes the following: reviewing customer documents and checking for missing/incomplete information, entering/verifying customer and policy details, verification of the details in the quote, proposal, and policy, generating the final policy (insurance policy insurance) based on underwriter's input.
Insurance Back Office Services
Melbrook Services is the premier Insurance BPO Services firm in the USA. With clients in the Insurance Industry worldwide, we provide a variety of quick and accurate Insurance Outsourcing at affordable rates, making us the perfect choice for any size business in this sector!
Not that any US business won’t benefit from Insurance Outsourcing services, but players in the insurance sector have a lot to gain when they go offshore.
Use an Insurance BPO Provider firm to outsource your time consuming, repetitive tasks that your staff hates, and let your team concentrate on the more skilled functions that you probably hired them to do.
Melbrook Services can reduce Insurance Operation costs with our exclusive business methods that will:
Update Market Research
Update Prospects
Use AI & Machine
Learning for Insurance Data Mining
Experienced & Highly-Trained Professionals Handling Your Account
Error-Free Data Entry Services
Near Instant Data Retrieval
24 X 7 Customer Service
Simplified & Improved Business Process
Reduced Operational Costs
Better Customer Engagement
Creates Time For Revenue-Generating Activity From Your Core Staff
Melbrook has chosen to specialize in Insurance Back Office Outsourcing because there are huge cost-savings for our clients achieved by our innovation and experience.
With our data entry and retrieval tools, both the blank and completed forms are available to your chosen staff in the blink of an eye. Take the guesswork out of filing and retrieving the huge amount of records generated.
As the Insurance Industry confronts the challenges of increased costs for Claim Processing, Underwriting Services, reduced demand, Medical Claim Processing, decreased growth in developed markets, and the incredible increase in both the cost and claims in recent climate related disasters, cutting operating costs becomes more and more critical. And Outsourcing for Insurance Companies from Melbrook Services can be key for any size operation.
Our Services, Your Benefit
1 | Reduction in Operational Costs
We guarantee a savings of 40% and more over in-house costs.
2 | 24/7 Support
With a robust network of global support, our services can be easily accessed around the clock.
3 | Short Turnaround Time
Our systems and our services incorporate advanced features, so we can do the job quicker and better.
4 | Secured Services
Melbrook Services has never had a data breach or data loss due to power, network, or server outage.
5 | Industry Expertise
Our services are reliable and scalable to your different business needs. We’ve been in this business for over 20 years and that experience can be yours.
6 | Quality Assurance
Our highly experienced team of professionals leads the sector in quality and efficiency.