Resourceful Thinking

THE OFFICIAL BLOG OF RESOURCE PRO

Insurance Outsourcing Becomes an Industry

August 21, 2017 / by ReSource Pro Editorial Team

This is the fourth in a series of posts, wherein we’ll be discussing the origins and evolution of insurance industry outsourcing. In this post, we discuss how the outsourcing industry evolves, providing distinct offerings.   Over the last decade, insurance outsourcing has evolved to meet market needs. Like in many developing industries, outsourcing providers have taken…

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Insurance Outsourcing Solutions for All

August 14, 2017 / by Patrick Armstrong

This is the third in a series of posts focused on the origins and evolution of insurance industry outsourcing. In this post, we discuss how outsourcing became a relevant business solution for the independent broker.  As previously discussed in this series, business process outsourcing (BPO) or ‘outsourcing’ in the insurance industry has been around for…

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The Dynamic Employee Benefits Environment Needs a Nimble Broker Operation

June 16, 2017 / by Caitlin Carey

According to Prudential’s Ninth Study of Employee Benefits, 81% of benefits brokers said their role has changed a great deal in the last five years. The employee benefits landscape has changed significantly, with the role of the benefits broker having shifted from being sales-focused to service-oriented. To compete, today’s employee benefits broker needs to offer end-to-end…

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“Help me, help you…” Align Your Insurance Operations and Sales Team to Turbo-Charge Results

June 15, 2017 / by Dan Epstein

Do you remember the scene from the 1996 movie Jerry McGuire, where Tom Cruise as Jerry is begging Cuba Gooding’s character to step into line and exasperatingly says “Help me, help you.” Tom Cruise’s character then storms off, and Cuba Gooding says, “See Jerry, that’s the difference between you and me. You think we’re fighting…

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Technology Enables the Insurance BPO/Outsourcing Industry

June 2, 2017 / by Christopher Watkins

This is the second in a series of posts, wherein we’ll be discussing the origins and evolution of insurance industry outsourcing. The first post discussed the economic origins of insurance industry outsourcing. In this post, we discuss how technology enabled outsourcing for new markets.   Technology is the Necessary Enabler Technology has had a transformative…

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The Process Paradox

June 1, 2017 / by Dan Epstein

You can have great assets, great people, great resources, great intellectual capital and great opportunities in your insurance organization, and still be expending excess energy, spinning your wheels and suffering considerable loss in output. These losses emerge from your operational processes and lead to some of the greatest missed opportunities in our businesses and indeed…

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The History of Insurance Industry Outsourcing

May 23, 2017 / by Dan Epstein

This is the first in a series of posts, wherein we’ll be discussing the origins and evolution of insurance industry outsourcing. In this post, we discuss the early economic principles that laid the foundation for modern outsourcing. We can trace the origins of outsourcing back hundreds of years in one form or another. As Kate…

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What Insurance Organizations Should Know About Cybersecurity

May 19, 2017 / by Arthur Wang

Recent publicized ransomware attacks (“WannaCry”) have reminded many about the importance of cybersecurity vigilance. Proving this, any insurance organization that followed the most basic cybersecurity best practices would have been safe from WannaCry. We’ve put together a list of best practices that will help you minimize your insurance organization’s exposure to cyber liability. Keep your…

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The Most Important Thing About Data and Analytics Is Not the Data

April 4, 2017 / by Andy Niver

Have you ever been promised that if you just had [fill in the blank] data, you could generate game-changing insights that would transform your insurance operations? If only it were that simple. Unfortunately, insights don’t come from simple osmosis by staring at your new reports and dashboards. That is a recipe for analysis paralysis, and…

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No Left Turns

March 16, 2017 / by Patrick Armstrong

Sometimes, the best business lessons come from unexpected places. For example, one might assume there are few similarities between insurance business processes and the world of logistics and package delivery. Yet, taking a closer look, we find an interesting and helpful correlation. In the 1970’s UPS, the world’s largest package delivery company, started experimenting with…

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Can We Change?

March 2, 2017 / by Judy Sigel

In the insurance industry, we have often been slow to make changes; but today, the need has never been greater.  In an environment moving toward interconnected technologies, artificial intelligence, drones, changing workplace dynamics and industry profit pressures, legacy processes, procedures and methodologies no longer serve the needs insureds.  Companies like Lemonade Insurance Company have turned…

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From Insurance Outsourcing to Operations Excellence

February 17, 2017 / by Dan Epstein

In 2004, ReSource Pro got into the insurance outsourcing business.  Today we’re in the insurance operations excellence and analytics business. Back in the day, the need of insurance organizations was to fill a gap in staffing, solve backlogs or take on tasks no one wanted to do.  We provided those services at a substantial savings…

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