Reinventing Insurance Distribution A.M. Best Company, Inc. An article published in Best’s Review
		In a time when most producers have become less committed to one company and more willing to consider new products and services, it can be difficult to keep up. This edited transcript of the “Reinventing Insurance Distribution” Web cast describes how companies can best modernize their business practices and producer relationships by developing new products, services and strategies.
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		Solvency II: Europe’s New Charter Toward Better Risk Management In Insurance WNS Research WNS Global Services
		Insurers in Europe will see the advent of a new regime, come 2012 ─ Solvency II. Its predecessor and European Union’s regulation, Solvency I, which came into effect in the late 1970s, laid out a simple, but robust framework for assessing capital requirements of insurance companies to pay potential claims in the future. Since then, insurance portfolios have undergone changes, and markets have evolved. This document aims to understand the nuances of the regime and the challenges in the path ahead.
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		How analytics helped an auto insurer detect fraud Rakesh Pande Head Insurance Analytics, WNS Global Services
		Some months ago, a New York City court convicted 13 people including six medical professionals who had, over several years, milked auto insurance companies of millions in fraudulent claims. How did they do it - by staging ‘fake’ accidents in rental cars and then ‘treating’ the alleged victims to a battery of unnecessary tests including expensive EKGs and MRIs.
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		The benefits of price optimization Rakesh Pande Head Insurance Analytics, WNS Global Services
		As the economic slowdown continues, insurance companies continue to worry about how to retain their most profitable customers. Customers who continue their business relationships with the insurer are more than revenue generators. Satisfied customers are, indeed, a company's brand ambassadors.They spread the word about positive experiences they have had with their insurer to others they come in contact with.This word-of-mouth marketing is valuable for a company, especially in these tough times.
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		Insurers’ six customer care challenges Jeremy Owenson Senior Vice President, WNS Insurance Services
		This is not the best of times for insurance companies. To better understand the decline in the industry, there is a need to examine customer satisfaction trends. Customer experience can make or break a deal for insurers. The older – more traditional – players have had to invest significant resources to move to a direct-to-consumer business model as compared to the more traditional third-party broker or independent insurance agent model. Insurers must overcome six challenges which affect the growth of their businesses.
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		How outsourcing can help overcome the underwriting crunch Rajesh Desingu Vice president, Insurance practice, North America, WNS Global Services
		Underwriters assess risks associated with new products and determine payments of premium. As a result of increasing attrition and the need to launch new products including niche ones, underwriting talent has become scarce. One estimate suggests a 40 to 50 percent shortfall in underwriting talent in North America alone. And only a few companies can afford to invest in training, contributing to the lack of trained resource.
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		Core No More! Implementing Sourcing to Fuel Growth in the Insurance Industry Sumer Shankardass Insurance Practice Leader, WNS Global Services
		A fundamental shift in outsourcing is just now discernable in the insurance industry, triggered by a new definition as to what is the core business. In most industries, outsourcing of business processes has been used primarily as a tool to reduce cost. Identifying the so-called non-core functions, typically from the back office, for consolidation to and delivery by third party providers has been the rule rather than the exception. But outsourcing activity in the insurance industry has begun to veer dramatically from this approach.
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		BPO - A survival tool for the Life Insurance and Annuities Industry WNS Research WNS Global Services
		While insurance companies already outsource highly transactional processes such as claims and payments, new business processing and underwriting support, they can gain significant additional value by leveraging BPO for other processes. For example, outsourcing research and analytics for actuarial support can optimize pricing and more accurate premium calculations helping the company target additional consumers based on demographics, groups and risk profiles.
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		Research and analytics can help gain actionable insights across every corporate function Brian P Welsh, Vice President,Research and Analytics
		Winning companies know that the right research and analytics enable them to gather, synthesize and extract data-based insights about their customers and their rivals, with the resulting insights provide them with monumental, actionable competitive advantage. While these successful examples intuitively make sense as they are highly transactional in nature, the fact is that every corporate function in just about every industry benefits from the insights research and analytics yields. Here are a few examples of how almost every corporate function can benefit from applying research and analytics.
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		The Financial Offshoring Imperative Rod Newing, ViReproduced from Best Practice Outsourcing & Offshoring, Lyonsdown Media Group
		Outsourcing finance and accounting processes can achieve significant savings, but organizations can achieve greater value by outsourcing even their strategic financial processes. Some organisations are now outsourcing critical financial functions as well as their transaction processing. This reflects not just cost cutting, but recognition of the value that a third party service outsourcing provider can bring as part of a strategy to concentrate internal resources on the key areas that create shareholder value. In addition to transaction processes, sophisticated finance and accounting outsourcing providers are capable of taking over much of the higher-level value creation work such as data analytics, decision support and financial management tasks, including planning, budgeting, treasury management, performance management and risk evaluation and assessment.
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