Policy Administration: Outsource
Capgemini’s open and closed-book policy administration outsourcing enables management teams to outsource non-core policy administration functions and free resources to focus on core business needs. Through Capgemini’s Business Process Outsourcing (BPO) services, insurers can reduce operational costs, avoid future capital expenditures, and increase quality, compliance and flexibility. We are a proven BPO provider with a multilingual work force fluent in more than 28 languages and delivery centers in over 20 countries including Argentina, Brazil, China, India, Morocco, Poland and Vietnam.
The outsourcing of closed book operations can unlock a unique set of benefits. In earlier outsourcing contracts, success was measured simply by cost reduction goals governed by service level agreements. But today, offsetting the financial burden is no longer enough. Insurers are looking for ways to extract additional value from closed book operations by integrating them with an overall client management strategy. Success is driven by cost, customer satisfaction, delivery of services and cross-sell/up-sell opportunities.
This multi-faceted approach to outsourcing requires an equally agile solution. Building on our technology and business process optimization experience, Capgemini created a solution that takes advantage of an innovative "Migrate and Land", single-step transition to closed or open books outsourcing. Our approach includes a clear structured roadmap to achieve benefits, is supported by milestones and transparency, and helps insurers:
- Migrate 'only once' at the start of the process; there’s no second migration process involved which removes disruptions and uncertainties
- Achieve radical cost savings and process improvements beyond labor arbitrage (People and process management, customer service, IT platform)
- Adopt transaction-based pricing models
- Lower capital requirements
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