Insurance

Delivering business value through integrated BPO, platform, consulting and transformation services .

Operating in a post-economic crisis world comes with its own set of uncertainties. With equity markets being rather flat and insurers having to pay for a series of ‘black swan’ events, the industry has been looking for process efficiency, cost savings, and innovative service offerings to address strategic objectives.

With TELETRICS as an outsourcing partner, you can be certain of having robust and efficient operations, as well as a strong backbone for your business-critical processes. In addition to experiencing stability and cost savings, our clients have partnered with us to realize value of a different kind – transformation of their insurance operations.

The TELETRICS BPS Insurance practice – has helped insurers to significantly reduce their opex while transforming their business processes to exceed market demands and customer / intermediary expectations.

Challenges and opportunities

The global insurance and reinsurance sector was hard hit by the economic crisis and large catastrophic losses in 2012. While there are signs of the market returning to normalcy and stabilizing over a period of time, customers and companies continue to tighten their purse strings.

Whether youre a property and casualty insurer who needs to scrutinize complex risks and crack down on fraud, or a life / annuity and retirements provider who wants to increase persistency and simplify processes, we can help you with:

Underwriting efficiency and risk modeling

Our operations support and experience in CAT tools (AIR, RMS) and supporting new business submissions and renewal process helps underwriters focus on risk evaluation while reducing the time to market for quote and policy issuance.

Customer and intermediary analytics

Our insights augment your ability to develop innovative products and services to drive top-line growth.

New customer segments and distribution channels

Leverage our technology solutions to expand your reach on the Web and on mobile devices.

Regulatory compliance

Clients can leverage our experience and knowledge on statutory reporting, risk management, information security, and SOX compliance – to comply with industry regulations and internal risk management practices.

How we deliver business value
Be it a short-term, business-critical requirement or a challenge that requires a multi-year solution, TELETRICS is fully geared to support insurers.

Expertise across the value chain of insurance segments

We are a one-stop BPO provider for insurers, with offerings that span the value chain of property and casualty, life / annuity and retirement, and reinsurance segments.

Smarter technology-enabled processes

TELETRICS streamlines your day-to-day operations and improves quality of service with technology-enabled business processing services, point solutions, and platform-based business services.

Domain expertise / insurance center of excellence (COE)

With pou vast experience and industry-certified professionals delivering services for global clients, we have a dedicated insurance COE to foster continuous domain training and education.

Flexible commercial and engagement models

You can move to a variable cost structure and enhance agility with a choice of models – outcome, price per policy, or transaction-based models.

Business value articulation and realization

We constantly unlock new value through continuous process improvement, transformation initiatives, global delivery model, and technology-led solutions. Our clients have realized cost savings of 25 – 40% over their engagement period.