- Insurance Accounting
- Policy Servicing
- Financial Reporting
- Downloads, Carrier Memos and Notices
- Commission Reporting
- Claims Handling
- Data Management
- Renewal Management
- Mail Processing
- Customer Service
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.
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.
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.
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.