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SOURCECORP to Showcase Claims and Policy Management BPO Solutions

By Madhubanti Rudra
TMCnet Contributor

Business Process Outsourcing can be a viable solution for the Insurance industry which is focused on improving the combined ratio and reduction of expense ratios. In order to maintain a positive growth curve, the insurance companies should also keep on constantly extend their portfolios, while maintaining good relation with the existing clients. At the same time, the companies should also keep abreast of industry regulations. In this situation, advanced BPO solutions can help the companies earn an edge over their competitors. These solutions would help these insurance companies to manage claims and policies, improve their service quality and reduce operational costs.

SOURCECORP is a leading provider of business process outsourcing solutions in the mortgage, financial services, government, healthcare, insurance and legal industries

In a recent release, SOURCECORP has informed that it would be present at the 2010 ACORD LOMA Insurance Systems Forum on May 24-26, 2010 at Mandalay Bay Resort Las Vegas to showcase its flexible and fully integrated claims and policy management solutions. The company source informed further that SOURCECORP's solutions offer industry compliance to meet stringent security requirements, such as SAS (News - Alert) 70 Type II, SOX and HIPAA, as well as provide fully redundant global operations to assure disaster recovery and business continuity.

The company has recently launched its official website, www.sourcecorp.com. The new site was created to more clearly articulate SOURCECORP's solutions and industry expertise utilized to transform clients' business processes and accelerate their business performance.

The company also informed that SOURCECORP experts will be available at the Forum to share how the company's flexible and fully integrated end-to-end insurance programs leverage technology to enhance revenue, performance, customer satisfaction and productivity. SOURCECORP will be occupying the Booth No. 247, at the event.

For the players on the insurance industry, improving claims process time cycle and reducing expense-to-premium ratios are of crucial importance. By visiting the SOURCECORP booth, visitors will get an idea as to how the SOURCECORP solutions can help them achieve real results in these two areas. According to SOURCECORP, it solutions can help the companies improve claim processing cycle times by 30 to 45 percent and reduce expense-to-premium ratios by 25 to 35 percent.

The company's comprehensive BPO solutions are designed to improve efficiency with Six Sigma quality utilizing mailroom processing, scanning and indexing of policies and claims; business rules based policy workflow offering approval and exception routing and work load balancing; claims processing utilizing OCR, database validation, auto adjudication and electronic reconciliation; and Web-based electronic distribution of all policy and claim documents.

SOURCECORP has its clientele spread across the three continents of North and South America and Asia. It serves clients across the industries including commercial, financial, government, healthcare, and legal. A successful presence at LOMA will definitely help the company add to its client list.