Magellan Solutions

APRIL 24, 2023

Stay Ahead of the Compliance Game: How Insurance Companies Can Meet Regulatory Requirements Nowadays, businesses should be up-to-date with the governing laws on data security. Outsourcing insurance compliance services can assist businesses with the changes in regulatory compliance. Additionally, it lowers exposure to potential risks.

Insurance 97

Insurance Reduced Costs Outsourcing Call Center 97

Magellan Solutions

APRIL 19, 2023

8 Secrets to Improving Customer Service in the Insurance Industry with Outsourcing If customers do not get satisfactory service, they easily switch to other competitors. In order to keep up with the changing needs, improving customer service in insurance is one of the top priorities of businesses. when outsourcing.

Insurance 98

Insurance Customer Service Outsourcing Service 98

IBM Services

DECEMBER 1, 2023

Insurers struggle to manage profitability while trying to grow their businesses and retain clients. Large, well-established insurance companies have a reputation of being very conservative in their decision making, and they have been slow to adopt new technologies.

Insurance 103

Insurance Automation Regulations Reduced Costs 103

Automation Anywhere

SEPTEMBER 17, 2022

As with any other industry, the insurance sector is under immense pressure to increase efficiency and remain competitive in an increasingly digital business landscape. To address this challenge, insurance companies can use Robotic Process Automation (RPA) and artificial intelligence to drive growth. Manual processes.

Reduced Costs 52

Reduced Costs Robotics Process Automation Management Insurance 52

Everest Group

MARCH 13, 2024

With more than 70 million individuals in the US engaged part or full-time in the gig economy, the notable lack of workplace benefits and life insurance coverage for these flex workers has sparked widespread debate. Options may include health insurance, retirement plans, disability coverage, and more.

Insurance 147

Insurance Administrative Flexibility Reduced Costs 147

Magellan Solutions

NOVEMBER 7, 2022

Insurance Back Office Support Tasks for 2023. Why do people get insurance back office support? Staff and insurance firms can find it hard to keep clients happy. Insurance companies use various ways to improve their business processes. Insurance companies need back office support for a lot of reasons. IT SUPPORT.

Insurance 75

Insurance Outsourcing Out-Tasking Offshoring 75

Everest Group

DECEMBER 14, 2022

Looking back at the downturn in 2008, new FinTech trends emerged, including personal finance management (PFM), insurance aggregators and marketplace, robo-advisors, crowdfunding, challenger/neo/digital-only banks, and cryptocurrencies. FinTechs will move away from bundling/aggregation to financial ecosystem orchestration.

Banking 182

Banking Insurance Finance Advisory 182

Everest Group

OCTOBER 1, 2022

Low code/no code development holds promise for banking, financial services, and insurance (BFSI) firms to gain agility and cost-effectively build innovative technology solutions – without needing professional developers who are in short supply. Reduced cost by having internal teams for development and maintenance.

Insurance 147

Insurance Banking Reduced Costs Collaborations 147

Perficient Digital Transformation

JULY 6, 2023

A blockchain-based data model for health insurance could potentially help to improve the efficiency and security of the health insurance industry. In such a model, each participant in the network, such as a patient, healthcare provider, or insurance company, would have their own unique identity on the blockchain.

Insurance 52

Insurance Healthcare Reduced Costs Regulations 52

Microsourcing

DECEMBER 23, 2021

The insurance industry’s claims handling processes are quite resource intensive and claims can take a long time to process, from initiation to a decision being made. months for a life insurance claim to be accepted , 1.6 months for a trauma insurance claim and 1.5 months for a life insurance claim to be accepted , 1.6

Insurance 52

Insurance MicroSourcing Outsourcing Reduced Costs 52

Everest Group

FEBRUARY 2, 2023

This can save money on transaction processing, leading to lower operating costs. Banks are using blockchain to help manage the documents needed for completing a trade transaction, including contracts, letters of credit, bills of lading, import/export licenses, insurance certificates, and more.

Banking 246

Banking Service Right-Sizing Automation 246

Perficient Digital Transformation

NOVEMBER 1, 2023

Intelligent automation and generative AI can unlock tremendous value for financial services leaders who want to optimize experiences and reduce costs. Perficient was honored to participate in the inaugural Banking, Financial Services, and Insurance (BFSI) event hosted by Kofax.

Insurance 59

Insurance Banking Robotics Process Automation Service 59

Magellan Solutions

FEBRUARY 20, 2021

Who Needs Insurance Outsourcing? Especially those that want to reduce costs and remove tedious repetitive tasks. As a matter of fact, insurance BPO projection within the period of 2020-2027 is at $8.3 As a matter of fact, insurance BPO projection within the period of 2020-2027 is at $8.3 Insurance Specialists.

Insurance 52

Insurance Outsourcing BPO Data Entry 52

Perficient Digital Transformation

JULY 19, 2023

One such industry that will be forced to utilize AI solutions to gain a competitive advantage is the regional insurance carrier industry. By harnessing the power of AI, regional insurance carriers can streamline their operations, enhance customer experience, and make more informed decisions.

Insurance 52

Insurance Automation Streamline Operations Reduced Costs 52

Everest Group

OCTOBER 17, 2023

For instance, Accenture’s acquisitions of Navitaire and Duck Creek Technologies showcased the power of assets, while TCS strategically positioned ignio as a transformation catalyst and upheld BaNCS as a revenue-generating platform within banking, financial services, and insurance (BFSI).

Streamline Operations 162

Streamline Operations Reduced Costs Insurance Banking 162

Metasource

NOVEMBER 30, 2021

Insurance companies manage daunting amounts of paper mail daily, such as claims, checks, grievances and appeals (G&A) , and enrollment forms. With an outsourced digital mailroom, your employees will gain the following benefits: Reduce costs on filing and storage. Experience You Can Trust for Insurance Digital Mailrooms.

Insurance 52

Insurance Outsourcing Reduced Costs Customer Service 52

3Pillar Global

MAY 3, 2024

They collectively insure ~130 million Americans, including nearly half of the employer market. I’ve also conducted numerous interviews with self-insured employers and the brokers they partner with. New technology is often a primary driver of disruption in health insurance, accelerating both product and business model innovation.

Insurance 104

Insurance Healthcare Co-Sourcing Administrative 104

Accenture Insurance

NOVEMBER 20, 2014

Low interest rates, increased competition, sales channel pressures, legacy technology and proliferating regulations are all putting insurers under pressure to reduce costs and increase operating efficiencies. Enabling Agile Insurance Finance and Risk through Shared Services Part 1: The Pressure is on for Insurance CFOs.

Insurance 40

Insurance Shared Services Finance Reduced Costs 40

Perficient Digital Transformation

JULY 3, 2024

Reduced Development Time : Build UIs and workflows with minimal coding, enabling faster time to market. Reduced Costs: Minimize development costs compared to traditional coding approaches. In the following image, you see an OmniScript walking a customer through several steps to select an insurance policy.

Insurance 111

Insurance Sourcing Automation Reduced Costs 111

Perficient Digital Transformation

OCTOBER 25, 2024

Reduce costs associated with legacy technologies and systems.” Our solutions are uniquely tailored to reduce costs associated with maintaining legacy systems, helping businesses optimize their IT budgets while focusing on growth. Gain access to technical and transformational skills and capabilities.

Managed Services 64

Managed Services Management Service Reduced Costs 64

Magellan Solutions

FEBRUARY 14, 2024

Benefits of Healthcare Call Center Outsourcing Companies in the Philippines Cost savings – Outsourcing to overseas call centers in countries like India and the Philippines can significantly reduce labor costs for US healthcare providers and insurers. This improves customer satisfaction.

Call Center 98

Call Center Healthcare Outsourcing Insurance 98

SourceFit

APRIL 28, 2016

The global banking, financial services and insurance (BFSI) outsourcing market is expected to be worth more than $277 billion by 2020, according to a recent report released by Technavio. EMEA is also an important capital market and insurance business process outsourcing (BPO) location. Staff Leasing Philippines.

Insurance 40

Insurance Banking Outsourcing Service 40

Perficient Digital Transformation

OCTOBER 24, 2024

This mitigates the risk of customer service representatives providing incorrect information and ensures compliance with regulatory disclosures, ultimately enhancing the overall customer experience while reducing costs.

Regulations 52

Regulations Service Banking Cybersecurity 52

Everest Group

JUNE 16, 2023

Six benefits of supplier diversity Drives cost savings : By expanding the group of potential suppliers and encouraging competition, an inclusive procurement strategy can increase product quality while reducing costs.

Outsourcing 130

Outsourcing Service Government Sourcing 130

Everest Group

MARCH 24, 2023

Challenger banks, pension providers, insurance firms , super-apps, nonbank financial companies (NBFCs), and nonbank financial institutions (NBFIs) are entering the market and creating competition. The focus on rapid growth would take a backseat as enterprises pivot their attention to reducing costs and improving profitability.

Management 130

Management Advisory Government Reduced Costs 130

3Pillar Global

MARCH 14, 2024

When patients or members interact with your digital platforms, they’re engaging in transactional experiences—scheduling appointments, checking results, verifying insurance coverage, etc. In the end, it can reduce overhead—which reduces costs both now, and in the future as your organization grows. Financial benefits.

Healthcare 98

Healthcare Reduced Overhead Insurance Right-Sizing 98

Groove Technology

MAY 18, 2023

Healthcare: MuleSoft helps healthcare organizations integrate electronic medical records (EMRs), patient portals, insurance systems, and other healthcare-related applications to improve patient outcomes, reduce costs, and enhance the patient experience.

E-Commerce 130

E-Commerce Supply Chain Management Government Banking 130

Premier BPO

OCTOBER 23, 2024

In healthcare, ETL processes ensure the effective management of patient records and insurance information while adhering to regulatory requirements. By optimizing ETL processes for efficiency and reduced costs, Premier helps streamline operations.

Co-Sourcing 130

Co-Sourcing Streamline Operations Government Analytics 130

Everest Group

SEPTEMBER 9, 2024

Capital Markets IT Services PEAK Matrix® Assessment The capital markets industry is transforming to enhance operational efficiencies and reduce costs. Firms are streamlining operations by automating processes, integrating new technologies, and outsourcing non-core activities such as IT management and back-office functions.

Marketing 130

Marketing Service Cybersecurity Banking 130

Automation Anywhere

NOVEMBER 23, 2021

Process insurance claims Processing health insurance claims is a task that must be done with precision. And it does add up in billing and insurance-related (BIR) costs annually paid by healthcare providers and patients. It is usually done manually, which can result in an error rate of up to 10%, causing rework.

Healthcare 80

Healthcare Automation Robotics Process Automation Administrative 80

Magellan Solutions

MARCH 5, 2023

Perform Functions of A Receptionist Virtual assistants perform the tasks of an office receptionist that schedule appointments, do follow-ups, manage customer records, process insurance, and communicate with patients. Through the help of a virtual assistant, processes like patient verification, insurance verification, etc.

E-Commerce 98

E-Commerce Out-Tasking Healthcare Administrative 98

IBM Services

OCTOBER 30, 2023

The retailer uses these insights to optimize inventory levels, reduce costs and enhance efficiency. A leading insurance player in Japan leverages this technology to infuse AI into their operations. AWS’s scalable infrastructure allows for rapid, large-scale implementation, ensuring agility and data security.

Analytics 83

Analytics Insurance Retail Streamline Operations 83

Hyland

FEBRUARY 2, 2023

Steve, Hyland’s assistant vice president of financial services and insurance sales, has more than two decades of experience in financial services. IA can deliver information, reduce costs, improve speed, enhance accuracy and remove bottlenecks with fewer human touchpoints. An excerpt from h is Q&A with BAI follows. >

Banking 91

Banking Automation Robotics Process Automation Reduced Costs 91

Groove Technology

SEPTEMBER 26, 2024

This model is particularly popular among companies looking to reduce costs while dramatically accessing a vast talent pool. Companies can accelerate their growth and digital transformation efforts by leveraging global talent, reducing costs, and focusing on core business activities.

Software 130

Software Outsourcing Offshoring Nearshoring 130

IBM Services

JANUARY 15, 2024

As an insurance company integrating technology into the new development landscape, BoB-Cardif Life Insurance Co., As an insurance company integrating technology into the new development landscape, BoB-Cardif Life Insurance Co.,

Efficiency 72

Efficiency Insurance Robotics Process Automation Automation 72

NoonDalton

DECEMBER 13, 2021

It could be significantly less expensive than expanding office space, and it is also more efficient and cost-effective than relocating. Here are the top 3 ways we help our customers: Reduced costs. We help companies to significantly reduce the average cost-per-hire, often by more than 50%. Insurance Processing.

E-Commerce 97

E-Commerce Out-Tasking Outsourcing BPO 97

Hyland

JANUARY 9, 2023

This blog post explains how to radically simplify documentation work, reduce costs and eliminate errors by going digital using content services. Import/export compliance is changing.

Service 98

Service Regulations Administrative Automation 98