THE insurance industry is undergoing a dramatic transformation, fueled by increased customer expectations, regulatory changes, and the unrelenting pursuit of cost optimization. Amid these challenges, insurance companies are discovering the benefits of outsourcing key processes to the business process outsourcing (BPO) industry in the Philippines. With a talented, English-speaking workforce, a cost-competitive environment, and a government that champions the BPO sector, the Philippines has risen to become a leader in insurance process outsourcing.

According to Ralf Ellspermann, CEO of Piton-Global and one of the country's leading experts in omnichannel BPO solutions for the insurance industry, 'The breadth of insurance processes being outsourced spans the full spectrum of front- and back-office services, as insurers leverage the Philippines' expertise and resources. Services ranging from claims processing and policy administration to customer support and underwriting are being successfully migrated, allowing companies to hone their focus on core business strategies.'