The Silicon Review
Tech spending in the global insurance industry is estimated to be at $189 billion. The IT spending ratio of insurance companies as a percentage of premiums has not changed to a great extent. Insurance companies currently spend about 3.8% of their direct written premium on IT. The average spending by insurance companies has comparatively reduced in the last four years. There are around 700–800 InsurTech firms globally that are addressing the requirements of the $4.5-trillion insurance industry, but the state of InsurTech is at a stage of infancy. New exciting business models to take over the insurance industry, such as microinsurance and pay-as-you-go insurance, have emerged. What will truly change the nature of the industry is the shift from complex, long-term insurance products to the fractions of insurance for a particular moment, time, and miles count. The new opportunities are tied to mobile devices and time efficiency. Your operations impact your performance, productivity and profitability. Operations directly and indirectly influence just about everything you do: winning and servicing clients, developing new products, and innovating. Commoditization, a rapidly evolving marketplace, and buyer demands require insurance professionals to embrace a different approach. Elevate the conversation, demonstrate differentiation, and capture more right-fit opportunities. Growth Solutions advances how insurance industry professionals connect with clients in an ever-changing marketplace. Dedicated to fostering organic growth in organizations, ReSource Pro provides a broad suite of services, including sales and service team training, sales enablement services, and BPM offerings that support activities currently diverting producers from focusing on sales.
Power of integrated operations
The insurance industry is entering a period of unprecedented change, bringing both disruption and new opportunities. Preparing for these changes while continuing to grow your business profitably requires an organizational agility to respond proactively to market changes and even lead them. Operational excellence is a first step in improving your current performance and preparing for the future. And to achieve that, your people need to be able to function as insurance professionals—focusing their time on what counts. Optimizing your operations not only gives you the ability to generate more revenue and improve customer service, it gives your organization the necessary capacity to plan, prepare, and respond to impending market changes. Wholly focused on the insurance industry, ReSource Pro takes an in-depth, comprehensive approach to providing business process management solutions. ReSource Pro’s focus is on helping your organization achieve its business objectives. Whether you want to increase profitability, improve customer service, maintain compliance, reduce waste or all of the above, ReSource Pro enables you to meet your desired business goals by significantly improving your operational performance. With solutions that address every functional operational area of your business, you’ll have comprehensive resources dedicated to every facet of your insurance operations. ReSource Pro’s customized, dedicated approach creates intimate knowledge of your culture, standards and systems, so that together ReSource Pro can optimize your operations for excellence.
Insurance solutions designed for you
Whether you’re driving growth, profitability, or scale, your business challenges aren’t just tech problems. And they’re not just talent problems, process problems, or data problems. They’re all of the above—complex challenges that need complex solutions. In short, they’re an integration problem. ReSource Pro’s Integrated Solutions bring all the elements together—people, process, technology, and data—to solve your most complex business objectives. ReSource Pro brings to the insurance industry tools, technology and strategic services that enable profitable growth through operations excellence. Headquartered in New York, ReSource Pro’s global service centers address client operational needs around the clock. Recognized as an industry thought leader and listed as one of Inc. 500/5000 Fastest Growing Private Companies annually since 2009, the company is renowned for its focus on innovation, service excellence and trusted partnerships, and its unique productivity platform for insurance operations. Over 5,000 ReSource Pro employees provide dedicated support to hundreds of insurance organizations, consistently achieving a 97% client retention rate for over a decade.
Meet the leader behind the success of ReSource Pro
Dan Epstein joined ReSource Pro in 2005 and became CEO one year later, leading it from a small startup to a company with over 4,000 employees in delivery centers in the US, China, and India. Dan has been named one of the “Hot 100” leaders in the insurance industry by Insurance Business America. Dan’s résumé includes degrees from Columbia Business School and the London School of Economics, military service in the Israel Defense Forces, economic research in East Africa, international trade work in the US House of Representatives, vice chairmanship on the Board of the World Future Society, and several stand-up comedy gigs in New York City.