By, Mike Fieseler, VP of Business Development
In today’s busy world, insurance agency leaders don’t have time to waste if they want to remain competitive and profitable. Contracting certain business functions and augmenting staffing needs is a strategic and effective solution; however, some business leaders are hesitant to rely on a workforce they can’t actually see.
Advancements in technology have made it easier than ever for businesses to optimize and streamline the work they do without ever being in the same room, time zone or even on the same continent, for that matter. Innovative tools like Skype, Slack and OX Zion help to connect team members wherever they are and keep everyone in constant communication. But technology can only go so far. To create workplace productivity, businesses need a process that helps teams work smarter and more efficiently.
Business Process Outsourcing (BPO) solutions allow companies to prioritize business functions by repurposing existing staff to perform key business functions, while contracting outside teams to handle lower-level, but required, processes. In this economic climate, the decision to leverage BPO stems from growing pressure to reduce labor costs, improve overall customer satisfaction and enhance operational performance.
And while BPO is among the fastest growing sectors of the outsourcing industry and is projected to reach $220 billion by 2020, not all BPO models are created equal. Some BPO providers simply act as a staffing service to carry out the existing processes without considering how those processes could be further optimized. And the few vendors who do develop process improvements for their clients consider the process enhancements to be proprietary and do not share them with the client.
The Vantage Agora model goes much further than traditional BPO providers.
- Transparency – We believe in complete enterprise-wide visibility, and consider ourselves an extension of our clients’ businesses.
- Operational Improvements – We work to optimize your existing operations by thoroughly documenting the improved operations and providing a detailed account of the documented processes. All of the work developed on behalf of a client, is owned by the client.
- Reports and Insights – We provide daily reports of the production environment, which are accessible to clients 24/7 on all web-enabled devices, as well as detailed reports that document ongoing trends over the life of the partnership.
- Scalable and On-demand – Whether it’s ramping up for peak season or simply increasing staff due to ongoing growth, we can add fully trained resources at a moment’s notice to assist with your business operations.
From policy quoting, to invoicing and billing, to claim verification and analysis, OX Insurance BPO takes care of the routine tasks while providing your clients a satisfying customer experience.
Are you ready to increase your overall rate of production with improved accuracy while decreasing your operating costs? Improve your businesses’ operational efficiency with BPO or reevaluate your current BPO model with Vantage Agora. Read our case study to learn more about our BPO solutions and contact us to get started today.