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        What is outsourced insurance claims processing?

        Outsourcing the processing of insurance claims involves sending certain tasks offshore for completion by an external party. These tasks involve lodging and managing claims as well as managing data, determining liability and liaising with external providers. Outsourced locations are typically overseas in places such as the Philippines.

        Outsourcing the lower level tasks associated with processing claims allows insurance companies to then focus on tasks that are of higher value to the business. Local teams can work on acquiring new business, managing complex customer issues or claims and nurturing relationships.

        The cost savings associated with offshore outsourcing are also significant and can be easily scaled up or down depending on demand. During times such as natural disasters, you might need more resources to manage the increase in your claims processing requirements and then scale down when the situation eases again. An offshore insurance claims processor can complete a number of tasks associated with the role, including but not limited to:

        • Responding to insurance claim enquiries
        • Determining coverage
        • Establishing and negotiating liability
        • Claim lodgement and management
        • Liaising with external providers
        • Entering and maintaining data
        • Investigating and assessing claims
        • Administration of documentation
        • Managing settlements
        • Taking inbound calls/emails and completing outbound calls/emails.

        Why do businesses outsource claims processing offshore?

        Businesses outsource claim processing to allow their local team to take on the more complex insurance cases and nurture customer relationships. Claims processing can be very transactional and administrative in nature which makes it ideal for sending to an offshore team. This then leads to business efficiencies and often results in increased employee satisfaction as they are freed of the more mundane aspects of insurance work.

        Having your local team focused on case management ensures that you have happy, loyal customers and a distinct competitive advantage. Customers will feel heard and understood which is vital to retaining their insurance business. Your local team can also focus on acquiring new business and nurturing new customers through the onboarding journey.

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        What other finance job roles can be outsourced?

        Beepo has years of experience working with businesses in the finance sector and can provide support for many roles including:

        What are the benefits of outsourcing insurance claims processing offshore?

        Key benefits associated with outsourcing insurance claims processing service to the Philippines include:

        • Efficiency increase

          By handing over transactional broker support officer's tasks to the offshore team, you are providing your local team with the opportunity to take on more work. By distributing workload across your offshore and onshore teams, your businesses efficiency and productivity levels will increase.

        • Cost Savings

          By hiring an outsourced team to assist your onshore departments with these broker support officer's tasks for a fraction of the price, your organisation's overheads and staff costs will dramatically decrease, by up to 70%.

        • Increased employee satisfaction

          Broker support officers’ tasks can be quite tedious and time consuming. By handing over these repetitive jobs to your offshore team, you will see an increase in employee satisfaction as your onshore team will be able to focus on what they were initially hired to do.

        • Business growth

          By enabling additional capabilities through your offshore team, you will be able to provide your local employees with the capacity to take on more work. This in turn will lead to sustainable business growth.

        What are the costs associated with outsourcing insurance claims processing?

        Outsourcing your claims processing to the Philippines can represent significant employment cost savings for your business of up to 70%. At Beepo, we offer a simple monthly fee to help you reduce your overheads and focus on growing your business. This monthly fee covers everything from infrastructure, security, management and recruitment, to training, IT, legal and staff benefits.

        For more detailed information on costs, please arrange a business consultation so we can tailor a solution to suit your unique business needs.

        The Beepo advantage

        Australian owned and based, Beepo is an outsourcing company that offers businesses a competitive edge through customised offshore staffing solutions. As locals, we understand the issues and challenges our clients are facing, especially concerning the recruitment and retention of hard working, dedicated staff. With a huge pool of quality finance industry talent located in the Philippines, we’re in a unique position to be able to help your company get ahead - finding and recruiting ideal candidates to fulfil your claims processing roles.

        What’s more, we handle every step of the process from recruiting and onboarding to training and managing. You remain in control of their workload, deadlines and KPIs, while we provide everything they need to get started and then deliver on your objectives, to the highest standards.

        Our insurance claims processors have the attention to detail you need to ensure accurate and timely processing of claims. And while they complete the simpler claims, your local team is able to focus on complex claims management and customer service.

        Interested in learning more about the outsourcing solutions we can provide for your business?
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