Life and pensions

With insurance processes ranging from a single small record change to a complex series of customer interactions that vary according to the nature of the contract, the customer, the distribution channel, and the location of the action, where do you draw the line?

Is it possible to hand over responsibility within a service in a way that allows you to manage the overall customer satisfaction even if you don't actively control the whole process?

At Steria we understand that the decision to outsource business processes to a third party is not easy. You have a duty to provide your customers with the best service you can but at a reasonable cost. Partnering with a professional, experienced business process outsourcing (BPO) management organisation such as Steria can help you achieve both.

As well as the day-to-day, repetitive low level tasks, our BPO services embrace insurance knowledge-based activities, such as new business underwriting, compliance checks and comprehensive anti money laundering services. The key to success is to determine which processes need to stay under your direct control and which ones you can simply monitor and measure. Our collaborative outsource model allows you to focus on those activities that give you market differentiation with the confidence that the rest of the business will be demonstrating performance excellence.

Delivering benefits

Our fully integrated on/near/offshore model enables us to deliver the benefits of globally standardised processes and tools where it counts – locally. One major insurer, for example, has retained all direct customer-facing activity whilst reducing policy administration costs by over 40% thanks to our offshore delivery. With 30% of our workforce in India, and teams in Europe and North Africa, we can guarantee delivery excellence and cost effectiveness. And more importantly we share the risk and deliver on our promises – if we say we’ll give you a 30% saving – we make sure you get it whatever service area we’re providing.

With Steria as your business process partner, you will have a guaranteed initial cost reduction of up to 30% with commitment to continuous annual cost reduction. We ensure that you achieve higher levels of compliance with industry and government standards and, ultimately, improved end customer satisfaction.

Steria also has considerable experience in IT support for insurance organisations ranging from legacy migration, improvement and maintenance through to full new software application customisation and implementation with some of the largest players.