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Turbocharge insurance BPO: Eight ways to drive profitable growth

For decades, insurers used BPO to cut costs and provide good service. Given economic challenges, BPO needs to be much more than that—here’s how.

Overview

The economic woes of recent years were unkind to the insurance industry, among others.

Profits dwindled as financial market turmoil hurt investment portfolios. Meanwhile, a stricter regulatory environment led to a dramatic increase in compliance and risk-management expenses.

These pressures combined created a very difficult global business environment for life and property and casualty (P&C) insurers.

This is where a new way of looking at BPO comes in.

Insurance companies seeking to address these challenges and achieve a competitive advantage should explore all the opportunities BPO offers.

In short, if you’re only using BPO to reduce costs, you might be missing out on opportunities to drive profitable growth.


Insurers using BPO only to reduce costs might be missing out on opportunities to drive profitable growth.

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