Business Process Outsourcing in the Insurance Industry
Business Process Outsourcing in the Insurance Industry
In the wake of the 2008 Global Financial Crisis, insurance companies around the world have taken action to ensure their survival.
To assist insurance companies determine ways to improve efficiencies, Accenture has developed a guide to business process outsourcing (BPO) for the insurance sector. BPO can play an important role in realizing a company’s growth strategy. Specifically, highly routine work involving large-volume processing of contracts in short periods of time are areas well suited to BPO.
A characteristic of BPO offered by Accenture is that it goes beyond focusing simply on lowering personnel costs. Drawing on our expertise in business consulting, we can achieve a reduction in total costs (IT and operating costs) through the simultaneous re-engineering of business processes.
Outsourcing operational skills maintenance and business continuation risk management are additional potential benefits. The enclosed guide provides an easy-to-digest explanation of the advantages of BPO, the best way to proceed with an examination of its suitability; using real-life case study examples.
Should you wish to clarify any points in this guide or need further details, please do not hesitate to contact us at AccentureAsiaPacific@accenture.com.
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The significance of BPO
In today’s challenging business climate, companies have reached the limits of internal cost reduction
For insurance companies, like most financial institutions, fixed costs, particularly expenditures on personnel, typically account for a high proportion of business-related costs. A key strategy for reducing these fixed costs is to take advantage of economies of scale through mergers and acquisitions, business alliances and business process outsourcing.
While M&A activity allows a company to capitalize on the merits of scale internally, alliances allow companies to achieve greater economies of
In the wake of the 2008 Global Financial Crisis, insurance companies around the world have taken action to ensure their survival.
To assist insurance companies determine ways to improve efficiencies, Accenture has developed a guide to business process outsourcing (BPO) for the insurance sector. BPO can play an important role in realizing a company’s growth strategy. Specifically, highly routine work involving large-volume processing of contracts in short periods of time are areas well suited to BPO.
A characteristic of BPO offered by Accenture is that it goes beyond focusing simply on lowering personnel costs. Drawing on our expertise in business consulting, we can achieve a reduction in total costs (IT and operating costs) through the simultaneous re-engineering of business processes.
Outsourcing operational skills maintenance and business continuation risk management are additional potential benefits. The enclosed guide provides an easy-to-digest explanation of the advantages of BPO, the best way to proceed with an examination of its suitability; using real-life case study examples.
Should you wish to clarify any points in this guide or need further details, please do not hesitate to contact us at AccentureAsiaPacific@accenture.com.
2
The significance of BPO
In today’s challenging business climate, companies have reached the limits of internal cost reduction
For insurance companies, like most financial institutions, fixed costs, particularly expenditures on personnel, typically account for a high proportion of business-related costs. A key strategy for reducing these fixed costs is to take advantage of economies of scale through mergers and acquisitions, business alliances and business process outsourcing.
While M&A activity allows a company to capitalize on the merits of scale internally, alliances allow companies to achieve greater economies of