Outsourced Insurance Management

Outsourcing — hiring an intermediary provider to handle a specific business operations — is the fastest and most efficient method for consolidating disparate data processes and technologies after an acquisition or a merger. For insurance organizations whose strategic goal involves establishing a national or global niche and exponential growth, outsourcing provides a much needed boost.

In the past, some insurance providers were reluctant to outsource major business process functions; however, the possible cost savings and efficiency improvements now make business process outsourcing a strategic choice for all (re)insurers. By outsourcing, many insurance businesses reduce administration costs up to 50%. Almost any process that can be managed as a separate function is a candidate for efficiency improvement using outsourcing.

State-of-the-art, multi-functional capabilities.

There can be thousands of daily transactions require robust technology. Artex, a leading provider of alternative risk transfer solutions, offers outsourced insurance management services that include ledger reconciliation, back-office systems, (re)insurance technical accounting, reserve accounting and bureau reporting. Our state-of-the-art, multi-functional applications are designed to handle the complexities of processing and accounting support for the non-London (re)insurance market and for insurers handling specific lines of business.

Tailored solutions for greater agility.

Outsourcing companies give an insurance business immense flexibility to adapt to competition and changes in regulatory compliance, allowing the organization to adapt to evolving market conditions. The services are tailored to fit your precise business requirements. As your company undergoes transformation and increases productivity, an outsourcing provider scales up their own production and evolves with changing demands. Having the ability to adjust your business operations will help your company remain agile and meet your growth projections.

Outsourcing provides focus.

As the demands of your organization multiply, you will want your employees to focus on business efforts. Outsourcing frees up your employees to concentrate on the core competencies of the business instead of being tied down by clerical assignments. Outsourcing will prove to be invaluable because the provider will manage and process documents, allowing your staff to remain focused on vital aspects of your business.

Here are the key benefits of outsourcing:

• Flexibility and scalability
• Optimum use of staff
• Reporting and compliance management
• Access to more resources and innovative technology
• Reduced costs of doing business
• Data backup and disaster management

Our outsourced insurance management services allow businesses to focus their time on their core competencies. Artex can manage the data and deliver the reports needed to operate the captive smoothly.