Ask any insurance company – big or small – what the largest problem currently facing them is. More often than not, they’ll tell you it’s expending a significant amount of resources just to support their back office functions. Luckily, with insurance business process outsourcing (BPO), there’s a better way to handle your workload.
While sometimes easy to overlook, back office functions play a key role in keeping your business successful. But, let’s face it: maintaining an in-house department can get expensive.
That’s why companies looking for a cost-effective way to supplement workload often turn to insurance back office support, as it provides several benefits, like:
Simply put, every insurance company’s long-term goals need to be centered around improving profitability. The ever-growing costs associated with your daily business functions can hurt your bottom line, but with nearshore outsourcing, you’ll have access to a complete team of professionals for 40% cheaper than US-based workers.
The quality of your back office functions directly shape customer behavior—and ultimately, profit. That’s why providing high-quality service through each stage of the customer experience is essential. With insurance back office support, you’ll be able to rest assured knowing helpful agents are ready to assist your customers with their every needs.
Insurance back office support is based around the premise of helping businesses supplement their workload. Most outsourced providers have years of experience and professional technicians who can quickly and efficiently take care of your back office functions. Not only does this help take a load off your plate, but it also provides you with the freedom to focus on more pressing operational matters.
Looking to discover the competitive advantages of outsourced back office support? Start a conversation with the experts at GGA, and ask about our insurance solutions.
If you google “insurance back office support” you’ll be met with thousands of results. So, how can you tell what separates high-quality providers from the rest? Well, here’s the secret: it all starts with the vetting phase. To narrow down your choices, consider the following actions.
However, it’s important to note that no company delivers perfect service, and every now and then, mistakes happen. Even the highest-rated outsourced BPO companies have the occasional customer who’s unhappy with the service they received. So, as a general rule of thumb: don’t get too hung up on a bad review. Instead, look for patterns. If you see multiple reviews noting poor service, that’s when it’s probably safe to assume that quality is an issue this company needs to work through.
At GGA Solutions, we’re a trusted provider of high-quality insurance back office support. But, don’t just take our word for it—have a look at a few of our recent case studies:
One of our US-Based medical insurance clients struggled to manage their customer attrition rate. Because GGA has a reputation for being at the forefront of the policy renewal industry, they turned to us to help supplement their renewal processes.
To be honest, they were skeptical, as most outsourced insurance back office support companies have difficulty maintaining a conversion rate of 30%. However, at GGA, our process is so effective that we guarantee to provide a minimum 65% conversion rate. In this particular case, our partners averaged 74%, almost 250 times higher than the competition. They were so thrilled with our service, they became a lifetime partner, and we still provide services for them to this day.
As another example, before enlisting the help of GGA’s outsourced claim support, one of our family insurance clients consistently filed 10 to 12 new policies every two weeks. However, after partnering with GGA, their productivity skyrocketed by nearly 120%. Our insurance back office support completely improved their operational efficiency, as they began processing anywhere from 25 to 30 plans biweekly. Thanks to GGA, they more than doubled their productivity—all for 40% cheaper than a US-based sales outreach program.
The insurance industry runs at a break-neck pace, and eventually, you may need to outsource your back office functions to stay ahead. If you’re looking for high-quality insurance back office support, make the right choice and partner with your neighbors at GGA Solutions. For years, we’ve helped insurance firms optimize their daily operations with our helpful service, professional staff, and industry experience.
Ready to discover the benefits of insurance back office outsourcing with GGA? Start a conversation with us, and schedule your free consultation.