Orlando==In an effort to cut costs and improve efficiency, insurers are increasingly outsourcing the work of their technology and business processing units, experts told an industry conference here.
The outsourcing to local or global vendors is not universal, they said, because some carriers remain skittish about farming out their main functions and fear alienating their agency force, speakers told a packed session at the ACORD-LOMA Insurance Systems Forum.
"Many insurance companies that I talk to say, 'We have taken as much cost away from the company as we can, and outsourcing is the next thing on the list,'" said Keith Johnson, a partner at Hamilton, Bermuda-based Accenture, who leads the firm's North American insurance business process outsourcing practice.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
