Insurance professionals often have a lot on their plates in this constantly transforming industry, especially with recent changes around the Australian Financial Service Licence (AFSL). Some in the insurance industry may perceive the increased regulation as a burden, however, another way to look at it is to see the opportunity of shifting the industry’s claims handling culture, from a resource intensive in-house activity to an efficient outsourced Third-Party Administrator (TPA) model.
An outsourced claims handler enables you to focus your attention on other areas of your business. What are some of the other benefits of outsourcing your claims management team? Let’s discover them together!
IMPROVE YOUR CUSTOMER’S EXPERIENCE
These days customers expect and demand fast and professional results – but they also want to be supported and listened to. So suddenly you now have to maintain the focus on different areas of your business, meet industry expectations of providing a quick response whilst showing empathy to your customers. What do you think will happen when you try juggling all these elements at the same time? That’s right, one of the first areas to faulter will be customer service leading to a decrease in your customer retention.
With an exclusively dedicated team looking after your customers, you can have the peace of mind that they will receive a fast response to inquiries, have the personable human touch that they want, and a great claim experience.
SAVE TIME AND MONEY
When you deal with insurance claims, you must invest significant time and resources into processing claims and fulfilling compliance requirements. What if you could invest your energy in what matters most to you and use someone else to do the hard work?
A TPA like Insurx has a dedicated team of experts ready to assist you in meeting your business objectives – they know how to handle all sorts of claim-related tasks efficiently and effectively. With leading-edge technology and a customer-first approach, we understand your needs and create a connected experience for you and your customers by providing more visibility and better communication.
YOUR EMPLOYEES WILL BE LESS STRESSED, WHICH IN TURN BOOSTS PRODUCTIVITY
If you are evaluating whether to have an in-house claim function or outsourcing it, it might be a good idea to think about your productivity. Would your employees be able to focus on delivering what you hired them to do?
Outsourcing helps you free up your team and allows your employees to focus on their roles and priorities within the company. In addition, it takes the burden of administrative tasks away.
MAINTAIN A COMPETITIVE PRESENCE IN THE MARKET
With more free time up your sleeve, you can dedicate extra energy to optimise other business areas, strengthening your presence in the market. Your reputation will be boosted by ensuring the job is done right the first time around with the help of a trusted AFS Licensed company like Insurx.
Insurx Pty Ltd is regulated in Australia by ASIC (AFS Licence number 528534) | ABN 85 628 930 334 | Member of the Australian Financial Complaints Authority (AFCA). The information in this document is general in nature and does not take into account the investment objectives, financial situation and particular needs of any particular person. Past performance is not an indicator of future performance. Insurx Pty Ltd and its related bodies corporate make no recommendations as to the merits of any financial product or financial services referred to in this document, its website, emails or its related websites. Before acting on any information in this document, you should consider the appropriateness of it, having regard to your specific financial circumstances and requirements. In particular, you should consider obtaining independent financial, legal, taxation and accounting advice to ascertain whether you should acquire any financial services described in this document.
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Insurx Pty Ltd is regulated in Australia by ASIC (AFS Licence number 528534) | ABN 85 628 930 334 | Member of the Australian Financial Complaints Authority (AFCA).
The information on this website does not take into account the investment objectives, financial situation and needs of any particular person. We make no recommendation as to the merits of any financial product or services referred to on this website.