by The Covenir Team | Feb 28, 2024 | Last Updated: May 22, 2024
Partnering with a specialized Insurance BPO Partner in the insurance industry offers a strategic pathway to streamline operations and redirect internal resources toward more impactful tasks. For leadership teams in insurance companies, understanding the optimal timing...
by The Covenir Team | Apr 15, 2024 | Last Updated: May 22, 2024
Insurers looking to boost operational efficiency and identify areas for cost savings often turn to outsourcing. While there are many insurance workflows that can be outsourced, the First Notice of Loss, or FNOL process, is one of the most common. FNOL in insurance...
by The Covenir Team | Apr 28, 2024 | Last Updated: May 22, 2024
Automation plays a significant role across the entire economy, particularly in the insurance industry, where insurers have been using it to transform the traditional underwriting process. It can help them optimize repetitive tasks and gather data-driven insights...
by The Covenir Team | May 19, 2024 | Last Updated: May 22, 2024
Outsourcing certain insurance processes to third-party vendors can be the key for insurers to unlock operational efficiency and stay agile and responsive in the modern insurance market. While there are incredible upsides to working with an outsourced insurance...
by The Covenir Team | Feb 9, 2024 | Last Updated: May 22, 2024
Recently, insurers have been plagued by staffing challenges, leaving them with a limited internal headcount that makes it difficult to run operations smoothly and efficiently. In the United States alone, the insurance industry is projected to lose around 400,000...
by The Covenir Team | May 15, 2024
Insurance customers demand a lot more than they used to. They expect to be able to use the communication channels of their choice, whether that’s phone, email or chat, and they won’t put up with long wait times – no matter how busy you happen to be. Challenges with...
by Shanda Boyett | Oct 27, 2021 | Last Updated: May 14, 2024
The Great Resignation doesn’t appear to be slowing down. The resulting staffing shortages are impacting many industries, including insurance, and more resignations may be coming. Keeping operations running smoothly is tricky when you don’t know whether your workers...
by The Covenir Team | Mar 12, 2024 | Last Updated: May 14, 2024
Back-office support is becoming increasingly crucial for insurance agencies of all sizes and specialties. Whether it’s compiling quote summaries, checking policies, administering commission payments, handling bank reconciliations, or generating policyholder renewal...
by Shanda Boyett | Nov 17, 2021 | Last Updated: May 14, 2024
Brand loyalty is down. According to Campaign US, a study found that brand loyalty dropped in 2020 as consumers struggled with economic problems and supply chain issues. Between March and November, the brand loyalty measure decreased from 65% to 49%. The insurance...
by The Covenir Team | Apr 8, 2024
From the time a consumer realizes they need new insurance coverage to when they renew their policy, insurers have opportunity to engage and foster a positive customer experience. The goal is to drive better retention and growth by creating loyal policyholders who are...
