Pros and Cons of Outsourcing Insurance Back Office

Pros -

  • Cost Savings
  • Greater Focus on Core Business and Customers
  • Improved Project Acceleration
  • Reduced Time to Market
  • Increased Productivity
  • Managing the WorkForce
  • Developing New Competencies and SkillSet

Cons -

  • Data and Security Risks
  • Inadequate Knowledge of Service
  • Level of Outsourcing Firm
  • Threats of Security & Confidentiality
  • Loss of Control of the Project
  • Conformance to Government Regulations & Policies
  • Loosing Management Control
  • Cultural Difference

Source: http://www.slideshare.net/cogneesolbpo/insurance-back-office-services-pros-and-cons

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