Insurance

Growing competition, managing reinsurance systems, new and emerging sales and distribution channels, rising operational costs, changing consumer preferences are some of the factors plaguing the Insurance industry.

MphasiS' deep domain knowledge and experience in the Insurance industry provides an unparalleled value proposition to Insurance providers. We work with Insurance clients in P&C, General Insurance, Life and Pensions. We provide a suite of BPO services across the spectrum of operational value chain, from sales and servicing of policies to the entire claim settlement process activities.

More than 1800 agents deliver voice and non-voice services from multiple delivery centers to the leading Insurance companies in the world. Our emphasis on using technology and business focused solutions enable us to bring in operational excellence and customer delight for you and your customers.

 

The MphasiS Difference

• IT + BPO Synergy: Ability to provide IT + BPO synergy benefits to our clientele given our large footprint in both areas
• Domain expertise: Strong domain and trained staff on Insurance functions like new business, underwriting, policy servicing, investment administration, claims and termination
• Transition:
  • Opportunity assessment methodology and ISO certified transition methodology successfully tested on over 300 processes
  • Rapid and reliable transitioning of processes as domain experts from our multiple accounts are available for deployment
• Transformation: Our experience through various transformation projects assures productivity gains through the life of the contract, continuous improvement in quality, and ensures value addition to client and the engagement.
• Risk Mitigation: Our Risk Mitigation framework ensures that customer data security standards are met consistently, and operational risk is mitigated.
• Governance: We have a robust governance structure to ensure seamless steady state operations and promote continuous improvement. Proven business continuity plans ensures continuous and consistent service to client and its customers. 
• Flexible Pricing: Flexible pricing model including transaction based, FTE based and risk-reward based
• Beyond the Arbitrage:
  • We have proactively implemented risk mitigation strategies and operational best practices that yield productivity gains of over 30%
  • Some of our centers are designated as Centers of Excellence by our clients.
  • Some of our proactive value add services beyond the charter like fraud detection in claims and leakage minimization in credit-hire payouts have resulted in huge savings to our clients.

Our global footprint, multiple delivery centers and domain expertise helps us provide the best solution which suits our client. Our solutions are engineered to deliver business impact by increasing operational efficiency, enabling effective customer management, improving quality standards and lowering operational risk.