Insurance process outsourcing certainly holds huge potential in terms of cost savings, customer satisfaction and efficiency and accuracy improvements. Unlocking the inherent potential is however a completely different ballgame and it will become a possibility only when prescribed guidelines are followed. One area where businesses need to take special care is the intra-departmental and intra-personnel communications that take place amongst involved stakeholders such as insurance companies, TPAs (Third Party Administrators), insurance process outsourcing service providers and of course the end-users, i.e. policy holders. Effective communications are a must for quick resolution of problems and issues pertaining to critical functions such as insurance claims support, policy renewals and upgrades, back office accounting, etc.
To ensure that insurance process outsourcing projects do not get adversely affected by the absence of effective communications between the stakeholders, it is necessary that multiple communication channels be opened up. This would include the setting up of dedicated phone lines, CRM systems, and online email and chat support systems. When proper communication channels are available, it will become easier for insurance process outsourcing service providers to provide efficient and cost-effective services to customers, TPAs and insurance companies. Effective communications can thus be defined as a prerequisite for ensuring success of insurance process outsourcing projects.
Tuesday, October 14, 2008
Effective Communications Are A Must For Insurance Process Outsourcing Projects
