ReSource Pro LLC, a company specializing in insurance processing for program managers, managing general agents and retail brokers, is rolling out its “in-sourcing” model nationally, a model that boosts back-office capacity and provides a cost-effective staffing solution for routine processing tasks.
The ReSource Pro in-sourcing model is designed for agencies:
* With low margins and large data requirements.
* Introducing new programs without the in-house staff they need to implement the new program immediately.
* With a backlog of submission and renewals that are resulting in overtime and forcing underwriters to put routine processing ahead of new business and customer service.
“By utilizing in-sourcing, companies not only realize 30 to 50 percent cost savings, but also free their producers, underwriters from the burden of routine processing tasks,” said Dan Epstein, vice president of ReSource Pro. “These high-value professionals have the time they need to focus on new business development and customer retention.
“An important advantage of in-sourcing is that it lets the agency retain control over its own information, in its own server, and continue to follow its existing procedures,” he said. “That way the agency gains the benefit of outsourcing but with substantially reduced risk to operational integrity.”
While traditional outsourcing migrates agencies to proprietary systems reportedly with a significant learning curve and disruption of staff, ReSource Pro documents workflows, trains its experienced insurance processing staff in the agency’s system and then connects to the agency’s server the same way their own staff would connect from home.
From its offshore data processing center, ReSource Pro supports activities of its clients by entering Acord data into their agency systems, rating, issuing policies and certificates of insurance, invoicing, ordering and reviewing MVRs and inspection reports.
ReSource Pro opened initial operations in 2003 with a client base that includes The Distinguished Program Group, Paul Hanson Partners, Lighthouse Underwriters LLC, and Automotive Risk Management & Insurance Services Inc.
Was this article valuable?
Here are more articles you may enjoy.