outsourcing

Building an Insurance Agency With Outsourced Resources

May 5, 2023

Growing an insurance agency is complicated and requires efficiency, multitasking, and strong time management skills. Insurance agency operations involve many tasks that can overwhelm your daily schedule. That is why many providers outsource insurance agency tasks that third parties can handle. 

Understanding the benefits of outsourcing and how to choose which tasks to outsource can be complex, but there are some simple factors to consider.

Use Outsourcing to Fuel Growth in Your Insurance Agency

When your insurance agency is aiming to grow and explore new opportunities, outsourcing can play a crucial role. While you’re working diligently to expand, tasks like helping customers, underwriting, and managing policies can slow you down. 

That’s where insurance outsourcing companies come in; they’re experts at handling these tasks. By teaming up with them, you can outsource specific functions while you focus on growing your agency. This means you and your team can focus on long-term success instead of everyday tasks. 

Weigh the Importance of the Task Before Outsourcing

Before seeking insurance outsourcing services for any task, consider the importance of the tasks at hand. Outsourcing is ideal for functions that are necessary for your company’s success but are not core parts of your brand identity

Avoid sacrificing control over any tasks that are fundamental to your brand identity because any anomalies can affect the perception of your brand in the marketplace. For example, you can outsource some of your client services roles and direct-mail management and retain policy consultations and in-person coverage guidance.

Assess the Level of Management Oversight Required

Some roles in your agency are easy to outsource because the roles are independent, and straightforward and require minimal oversight or involvement by your office management. Those roles can easily transition to an outsourcing service because you do not need someone in-house involved in those activities. You can monitor productivity via your agency management systems and limit access to the virtual assistants based on what is being outsourced.

Outsource Insurance Agency Claims Reports to Save Time

Claim filing is easy to outsource as well. The initial process is more administrative, though the agency should review the claims after gathering the information. Third-party services can gather claim information, input data, and transmit those claims to the insurance company. Claims calls can be time-consuming, so save your agents the time spent asking standard questions by outsourcing the process.

Conclusion

If you’re looking to build an insurance agency with outsourced resources, it is vital to recognize the tasks and responsibilities you need greater control and oversight over versus those you can more easily delegate to a third party. To achieve long-term success, protect your core operations and brand identity but outsource insurance agency tasks that are more administrative and less critical.

About Virtual Insurance Pro

Virtual Insurance Pro offers specialized services to insurers and individual agents, including phone support, claims processing, customer service, and carrier requests. Our workforce of skilled professionals is based in the U.S. and ready to handle the most time-intensive tasks so that you have more resources available. For more information, reach out to us at (877) 853-9382 or email us at info@vinsurancepro.com.

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