Sunday, April 24, 2011

BPO Services Still in The Limelight

There is some good news in the BPO services sector. Many multinational companies prefer setting up offshore IT services and business services subsidiaries once again post all the trauma of recession. Mainly companies want to tap talent in low-cost locations. The subsidiaries popularly known as the captive centers in the outsourcing industry because they meet the in-house services requirements of companies. This can be back office outsourcing or even the core services outsourcing.

According to report, the focus of these centers has shifted from mere cost-cutting to innovative development and building deep business expertise which local outsourcers are not always able to provide. Recent trend suggests that companies prefer a hybrid model for offshoring that combines captive centers with outsourcing to local service providers. The BPO service providers continue to be a key element of the global sourcing strategy of organizations. In Asia alone around 62 new captive centers were set up and many were expanded. 

The setting up of new captive centers, and expansion of existing ones, will happen in multiple markets and will often be driven by the opportunity for companies to push their products and services in those markets. Experts opined that captive center has the skills in-house to hire staff, and knowledge of the market it operates it, making it more suitable for launching domestic sales operations. Also Offshore BPO service providers tend to do work for a number of customers in the same industry, such as financial services, insurance services etc.

Saturday, April 23, 2011

Cost Efficiency with Outsource Marketing Services

Marketing is absolutely necessary to make a living wage whether it is offline or online in the business industry. In this age of internet communication, without online marketing there will not be any profit in the business. There will be no traffic and the business becomes dead. But it has been stipulated that many entrepreneurs and small business owners just do not have the time to do it all themselves. Hence they consider outsource marketing

As established earlier, outsourcing marketing services are nothing different from back office outsourcing. It is the process of hiring people to perform online marketing duties. Outsourcing is one way to get more finished and retain your sanity as the owner as there are many areas of expertise in marketing and advertising and sales that can be outsourced realistically. 

It is not a herculean task to find reliable virtual assistants in the marketing field. You can outsource the paperwork that is needed in the marketing field or you can consider hiring a foreign English-speaking employee to reduce your load and keep up with the day-to-day smooth functioning of your business. Your choices for hiring outsource internet marketing are many and varied. There are graphic designers who can design your emblem, website online, or supporting materials. Or you may choose to hire somebody that has a strong education in computer technology – a person who has strengths in HTML and coding issues, and/or an SEO optimization expert – who can help get your website up to the top end of the search engine rankings.

Wednesday, April 20, 2011

Insurance outsourcing services and its offshoots

Most of the insurance companies are in constant run to meet their parameters like attaining customer satisfaction, operational effectiveness, and market advantage that will ultimately drive the bottom line. Subsequently insurance outsourcing services offers a convincing business model that insurance companies can rely upon any time. Generally insurance companies are constantly worried about customer retention since the market is highly competitive and differences in policy premiums are insignificant. They focus entirely on retaining the existing customers for a long time. 

Insurance outsourcing services

It can be even said that the insurance industry has born out of the need to outsource one’s risks. Driven by increasing comfort with vendors and the need to reduce costs, the Business process outsourcing (BPO) is growing within the insurance industry. If you look at the insurance outsourcing services industry closely, you find that there is much scope for the Non – Voice BPO in insurance which classifies into non-core services and core insurance services. Specific operational areas like underwriting, policyholder and agent services, and claims come under the core insurance services and non-core services include areas such as HR and benefits administration, as well as enterprise services like property management and purchasing.

Monday, April 4, 2011

Insurance BPO Services @ Shriram Value Services

The insurance Industry is facing a huge pressure with increasing competition and consolidations. To meet the company’s demands, to attain maximum results and to get best output in a cost effective way many insurance companies are seeking other alternatives. Among many options outsourcing seems to the best choice. Shriram Value - BPO service providers offer End-to-End Insurance Services in Life and Property - Casualty Insurance sector.
If you want your insurance organization to gain a competitive edge, consider Shriram Value BPO Services. We help your organization to attain greater heights through increased proficiency.

Our Services Include:

Life Insurance

New Business
• Application Processing
• Data entry

Policy Set Up
• Policy processing
• Policy issue and dispatch
• Policy administration and maintenance

Policy Changes
• Renewals processing
• Customer service
• Maintenance of customer information database
• Surrenders
• Renewals follow up 

• Receipting premiums
• Premium reconciliation

• Claim processing
• Survival benefits

• Agent commission payment
• Refund

Property and Casualty

New Business
• Scrutiny of proposal
• Followup with Channels/sales team
• Premium Calculations
• Sales/ Quotes acceptance & conversion
• Underwriting
• Customer Retention/ Cross and up-sell
• Customer Enquiries
• Verification / Validation
• Policy Issue
• Delivery Requirement

Policy Servicing
• Customer Service
• Name/ Owner/ Address Changes
• Certificate Re-issue
• Adjustments/Endorsements/ Rider & Coverage Changes
• Renewals and Quotes
• Cancellations
• Refunds
• Premium Mode Change
• Bank Changes
• Collections followup

• First Notification of Loss
• Claim Set-up
• Investigation/ examination
• Review & assessment
• Coding
• Reserves
• Policy Specific emergency assistance
• Excess/ Deductable Management
• Settlement Agreement
• 3rd Party Claims (property damage & bodily injury)
• Subrogation

Payments & Accounting
• Settlement Payments
• 3rd party payments
• Closing Payments
• Premium Audits
• Remittance exceptions
• Reconciliations
• Billing

• New Business Analysis
• Premium Analysis
• Claims Analysis
• Agency force Analysis
• Channel Analysis

Shriram Value Services is best choice for Insurance outsourcing services because of:
  • Expert services
  • Well Organized process
  • Quality control processes
  • Adapted services
  • Experienced workforce
  • Domain expertise

Shriram Value Services is offering a wide outsourcing services across a vast range of industries and has years of experience and expertise in providing quality insurance services. Organizations in the U.S and U.K who have outsourced insurance services to us are able to focus more on their core business tasks while getting access to excellence insurance services.