Why Work with a BPO?
By Tina Gonsalves | Published July 24, 2021
When juggling a multitude of clients and a wide array of group coverages, health insurance producers have a lot on their plate. It’s essential to make sure that every group is getting the right information at the right time. Your clients rely on you to ensure that their employees are getting the best possible coverage and service, at the best value.
Insurance business process outsourcing, or BPO, can help employee benefits businesses keep all the moving parts humming smoothly. Here are two core reasons the health insurance industry should consider BPO services – like Advanced Professionals Managed Services – to improve operations.
Improved insurance processing capabilities
When onboarding new clients and processing enrollment changes efficiently, it’s critical to maintain consistency and commit to quality. If a mistake on an eligibility transaction goes unnoticed by the group administrator until a critical illness or hospitalization occurs, it is likely too late to make changes, making the group or the broker liable for the claim costs. When working with an insurance BPO partner, you’ll develop standardized workflows and quality assurance procedures, ensuring that nothing falls through the cracks.
In addition to improved quality, standardized workflows will improve overall efficiency. Working with a dedicated partner for employee benefits insurance processing offers a clear path to improve cost efficiency and increasing revenue. These two goals are directly related: by spending less on processing eligibility and shopping plan options for each client, your business can work toward taking on additional clients and expanding potential revenue.
Full management of small accounts
You likely have a mix of large group clients that take up most of your time, and small groups that trust you for the same level of service as the larger groups. Delivering a high level of service takes time and trying to juggle a high volume of requests for service can cause delays in providing answers, or a lapse in quality to meet deadlines.
When you partner with Advanced Professionals Managed Services, we fully service your small book of business. You can trust that the highest standards for quality assurance will be followed and that our team will offer the same level of care and expertise as your internal staff while improving processes and extending new opportunities. Partnering with Advanced Professionals Managed Services to manage your small accounts creates an extension of your team, does not cause any disruption in service or branding, and keeps your business growing.
Choosing an insurance BPO partner for your health insurance brokerage
When considering a BPO partner, it’s important to consider the unique needs of health insurance brokers. To serve employee benefits customers requires detailed knowledge of a wide array of policies, and how those work together to offer the best possible coverage. It’s also essential to offer not only the best options for individual groups but also to develop full benefits packages that companies will be proud to offer their current employees and incentivize new hires.
At Advanced Professionals Managed Services, we carry the experience necessary to help health insurance brokers improve existing processes, increase revenue, and strive for full customer satisfaction. To learn more, contact Bryan Marsh at **email@example.com. **
Tina is the Director of Marketing for Newfront's Wholesale Benefits Division, Advanced Professionals Insurance & Benefit Solutions.