Industry
Financial Services & Insurance
Financial Services & Insurance Outsourcing is the process of contracting with a third-party to provide a specific financial or insurance service. This can include everything from providing insurance quotes, managing investments, and providing banking and credit services.
Finance and Insurance are an integral part of any business organisation. It is also not something that is done just at the end of the year; rather, it should be a year-long operation performed with utmost accuracy and care. And that is why it is salient to have them all highly coordinated in a meticulous and streamlined way which can be difficult for an in-house to maintain in the long run.
Furthermore, the industry of financial services & insurance is confronted with turmoils associated with alternative risk financing, changing customer expectations and cybercrime, along with the geopolitical tensions of the pandemic into the mix. With these pressing concerns, the power of outsourcing is the game changer.
At The Lead Enquiry, we provide a list of service provider partners who offer support and assistance across a variety of finance and insurance roles, tasks, and functions. Our partners’ remote staff are tertiary qualified and have the willingness and capacity to work hard on delivering the outcomes you require, such as mitigating your exposures and establishing adequate risk transfer solutions.
Why You Should Outsource Financial Services and Insurance Roles
Cost advantage
Outsourcing can save your business money by getting your daily repetitive tasks finished at a lower cost and at a higher quality as well. It can also significantly reduce your overhead costs from employment, office space, equipment, infrastructure and technology expenses as you no longer need to maintain an in-house space since outsourced staff can work offsite, pay offshore employees to work in those services, and streamline your own technology.
Save time
Outsourcing enables you to free up the hours you constantly spend on doing repetitive tasks and lets you allocate more time towards other, more profitable aspects.
Access to experts with specialised skills
The remote staff employed in outsourcing companies like The Lead Enquiry’s service provider partners are highly-educated, professional, and well-versed in their respective business areas, as well as proficient in managing the business needs of corporations that want to offshore.
Expert support
Our BPO partners’ remote staff are adept in providing advice and insights at each stage of the outsourcing process, which then can help your company get the best out of your outsourcing journey and make sure it is honed for growth and success. Furthermore, our partners also integrate first-class business practices perfected over the years by catering to clients worldwide.
Focus on core areas
Outsourcing your business functions can free your energies and allow you to concentrate on investing in research and development, building your brand, and providing higher value-added services.
Optimise business availability, flexibility and overall efficiency
Outsourcing allows your business to become more flexible and efficient by providing round-the-clock support and availability anytime, anywhere to your clients.
Better and faster services
Outsourcing can help make your service offerings better with premium quality deliverables to minimise the lead time it takes for your product before it reaches the marketplace. Therefore, you would be faster in converting your ideas into products and better at distributing the value-added proposition.
Increased customer satisfaction rates
Outsourcing can enhance your client satisfaction by increasing your company's availability to customers, rendering your clients access to expert services at their convenience and improving the quality of your customer interactions and engagements.
Roles in Financial Services and Insurance You Can Outsource
• Financial modelling
• Financial data analysis to identify business opportunities
• Loan maintenance
• Managing direct and indirect tax matters
• Revising and preparing tax payments and returns
• Insurance quoting
• Preparing financial reports
• Preparing loan serviceability calculators
• Database management
• Claims lodgement and management
• General administration support
• Client retention activities
• Customer care
• Producing SOA and ROA documentation
• Valuations, pricing and serviceability
