Insurance Back-Office Outsourcing
WeSage BPM offers a comprehensive range of solutions to address your back-office requirements. Our services cover the time-consuming and repetitive tasks, enabling your staff to focus on their core competencies of generating and retaining business for your organization.
As an insurance broker, you're constantly juggling multiple tasks and responsibilities.
From finding the right coverage for your clients to managing claims and handling customer queries, there’s a lot on your plate. However, one aspect that often gets overlooked is the back-office and accounting functions. These tasks can be time-consuming and require a certain level of expertise. That’s why outsourcing these functions can be a smart move for insurance brokers.
Insurance agencies generate a significant amount of data on a daily basis. This data needs to be stored, analyzed and reported accurately. The challenge here is to manage this data efficiently and effectively, to avoid errors and ensure compliance.
Back-office and accounting functions are time-consuming and require meticulous attention to detail. Insurance agencies may not have sufficient resources to dedicate to these functions, which can lead to delays, errors, and missed deadlines.
Insurance agencies need skilled professionals to manage their back-office and accounting functions. The challenge here is to attract and retain talent, and to provide adequate training and support to ensure that employees are equipped with the necessary skills and knowledge.
Insurance agencies need to leverage technology to manage data, automate processes, and ensure compliance. However, the challenge here is to find the right technology solutions that are cost-effective, user-friendly, and compatible with existing systems.
Cash Flow Management
Insurance agencies often face cash flow challenges, as payments from customers may not be received on time, while payments to vendors and suppliers may be due. This can lead to cash flow shortages, which can impact the agency's ability to meet its financial obligations.
Insurance agencies must comply with various regulatory requirements, such as reporting requirements, compliance with accounting standards, and tax compliance. The challenge here is to stay up-to-date with the changing regulations and ensure that the agency is always compliant.
Outsourcing back-office and accounting functions can be a smart move for insurance brokers.
By delegating these tasks to WeSage BPM, you can focus on your core business activities, reduce costs, access expertise, improve efficiency, and achieve scalability. If you’re Insurance Agent/ Broker, Wholesale Broker, Managing General Agent or Insurance Carrier consider outsourcing these functions to take your business to the next level.
Proof of our exemplary performance
Manager, Sales & Communications at Heirloom
I really appreciate how the team works on our timezone. It really makes us feel like a priority because, during our business hours, we are all online together and can work together. WeSage’s work made our day-to-day operations more efficient. The team is dynamic, so we felt comfortable approaching them for a variety of different tasks.
Partner at Herman Wallace Inc.
I have worked with a few virtual assistant firms (both USA-based and international) over the years, and WeSage BPM is by far the best experience I have had in that time. Their associates have the English language skills to effectively communicate with my team, which is important when working with any international vendor, and rarely found with VA firms.
WeSage BPM is assisting us to set-up and onboard at scale new client relationships and this has assisted us to create the required growth and significance to establish ourselves in the marketplace.
COO of Western Safety, Seattle
I would say that I had many questions at first on whether this would work being that products is located in Seattle and WeSage is in India and just The logistics alone seemed daunting to me. But it has not been a problem as we have, over the last year, added multiple responsibilities in multiple areas of work which include accounting IT web development marketing analytics etc.
CEO, Peter Pan Publishing
We have been able to work with WeSage BPM with our metadata and spreadsheets. They help us establish and understanding of our needs and ready to work together. WeSage comprehends our needs and are always quick to turnaround our projects.
Group CFO at Wiser Ltd.
We really appreciate the quick and proactive attitude of WeSage BPM. They find solutions for all sorts of possible issues and tasks. They’re a perfect outsourcing partner for the business and around any sort of Admin or Finance or Marketing transactions.