Insurance back office services

Insurance Back Office Services:

What can be Outsourced?

Winn Group is a leading provider of insurance back office services for our broker and insurer partners.

Facilitating efficient and effective back office operations, Winn Group delivers outstanding service in the insurance sector, allowing our partners to focus on their core company objectives.

Insurance Back Office Services

The delivery of insurance back office services covers many aspects of the claims process, easing the burden on the insurer and supporting better outcomes for policyholders.

It isn’t just one element that can be outsourced as part of insurance outsourcing, it tends to be multiple tasks that insurers seek external support with.

What are Insurance Back Office Services?

A wide-reaching topic, many may be unsure what specifically can be classed as an insurance back office service.

Although not an exhaustive list, here’s what can be included:

FNOL (First Notification of Loss) – the initial data capture of a claim, the very first point of contact between insurer and policyholder.
The initial assessment of liability in the claim – An expert will determine fault for the accident, dictating many of the next steps of the claim.
Information inputting – Bringing together the legally required information to begin the claims process.
Document storage – This is the gathering and digital storage of information in a central, secure online claims processing system.
Negotiation – The discussions with the third party insurer to ensure successful settlement of a contested claim.
Compliance Monitoring – Ensuring the claims process adheres to strict legal and industry regulations.

Benefits of back office outsourcing

When an insurer or broker enters into an outsourcing agreement with an external expert in insurance back office services, they do so with the view of the benefits on offer.

Firstly, it eases the burden on their current core staff; there’s little need to hire full-time employees for these processes as they’ve been outsourced, meaning the infrastructure required along with internal teams and departments is also no longer a concern.

With that comes a significant reduction in operational overheads – think office space, technological infrastructure and the other processes associated with staff, including training and development and HR support – in relation to those teams that in theory would be on the insurer’s payroll.

By relying on an outsourcing expert, the insurer has access to trained, specialist staff that are part of a company that has dedicated significant time and investment into evolving their experience and expertise in

the field.

It improves the data capture element, with a solid reliance on the outsourcing partner’s accuracy and consistency when it comes to data handling and security.

Many of these insurance back office services need to be scaled up or down based on business needs and workflows. For an insurer, if these staff are on their payroll it means major adjustment to suit in terms of

retention and recruitment.

However, use of an external provider means they can scale their support up or back within the confines of their operation, saving the insurer time, money, and manpower.

Good providers of insurance back office services will adhere to the highest regulatory standards of compliance. Winn Group is one of these companies, regulated by the SRA in terms of financial and legal conduct.

By adhering to these high standards, companies are prepared to deliver outstanding customer care that an insurer can rely on.

"We were really impressed by the results of Winn Group’s 24/7/365 FNOL solution and the high client care standards maintained.

Using the 24-hour working operation to enhance their service offering, Winns is a market-leading accident management company offering a market-leading service."

Insurance provider

"Winns' way of handling claims under one roof offers a seamless customer journey, which is invaluable to our policy holders, with customers particularly impressed by the attentive nature of staff and their ability to take the stress out of a difficult time in the aftermath of an accident."

Insurance provider

“We’ve worked with Winns for over 15 years and found their customer care standards and delivery of service levels to be excellent, consistently delivering for our customers.

Their customer facing teams work quickly and hard for our customers; they’re a benchmark for the rest of the sector."

Insurance provider

Are you ready to entrust your insurance back office services to a market-leading company?

Speak to Our Team

When is the Right Time to Outsource?

When considering if outsourcing insurance back office services is the right next step, the overarching desire from insurers and brokers will be to get greater customer care levels as efficiently as possible.

Protecting the core operations of the insurance organisation, this outsourcing should enhance your product with less internal input required to deliver it.

That sounds like a difficult ask, a hugely attractive prospect to most businesses. So, it is important to consider when the right time is to commit to outsourcing services.

For an insurer or broker, they should look at their policyholder numbers and consider if the internal capacity at their disposal is enough, and effective enough, to maintain outstanding customer service.

If that outstanding care is already present, can it be extended? Can it be provided round the clock, during out of office hours? An outsourcer like Winn Group can offer that service.

Is the insurer or broker enduring high staff turnover in administrative roles? This process of providing training and development for a staff member, only to see them leave and require a replacement to be recruited, can be costly. Repeat on scale and it is a significant drain on financial resources and working hours.

By partnering with an outsourcing partner, the insurer avoids the need for constant hiring to new positions, vastly reducing staff turnover rates and allowing another company to take the lead in that respect, meaning the insurer focus is on other important core business objectives.

Interested in learning more? Contact our Business Development Team today.

How to Get Started with Back Office Outsourcing

If you’re ready to enhance your service offering and free up valuable resources for different objectives across your organisation, the starting of the process is straightforward.

The main point of consideration is who to choose to partner with. That involves doing due diligence. Firstly, consider the potential options and their reputations within the sector; take view of their customer feedback through sites such as Trustpilot and Google Reviews.

This will provide a good level of coverage before speaking face-to-face, being shown the operation in action, and digging deeper into service levels and outputs.

Why Choose Winns?

Never has the time been more appropriate to drive efficiencies in resource management and service delivery in the insurance sector.

By utilising a partner in insurance services outsourcing like Winn Group, you get comprehensive back office support, adhering to the stringent service level agreements.

It’s time to take your insurance offering to the next level of customer service. It’s time to give Winn Group a call.

Business Development Team