Offshoring Insured: How Offshore Solutions Benefit the Insurance Industry


Our offshore solutions are custom-tailored to meet the needs of our clients regardless of industry. However, we find that IBS offshore solutions work especially well with insurance companies. Constantly shifting service offerings, incredibly specific governmental regulations, and long life cycles are all reasons why moving offshore is often the perfect solution for insurance companies.

Constantly Changing Industry

The flux of the insurance industry is constant, and it is especially prevalent now amidst the implementation of the Affordable Care Act. This on top of an ever-changing shift in product offerings and modifications, and varied degrees of regulation between states makes application maintenance a constant need. The amount of maintenance work needed just to keep up with these variations can be overwhelming for an IT staff, taking their focus away from new projects.

An experienced IBS offshore maintenance team can provide the level of support you need to keep all of your systems up-to-date and running smoothly through all of these changes.

Long System Life Cycle

Especially with life insurance policies, systems at insurance companies can have a life cycle much longer than might even be considered reasonable in other industries. For example, one of our clients had tens of thousands of active policies on a system created in the 1960s. The amount of time and work it would require to convert all of these policies to a modern system was simply not worth it. They instead turned to an IBS offshore team to maintain the system, allowing them to keep the policies on the old system without expending the time, resources and money it would require to convert them.

Complex Suite of Systems

Maintaining an extensive application suite can be a big strain on internal resources. Our offshore teams are experienced in maintaining such complex systems, in an array of different technologies including, but not limited to:
  • Policy systems
  • Commissions systems
  • Claims systems
  • Policy administration systems (life, auto and homeowners)

Testing Distracts Resources

Aside from maintenance, insurance companies are also primed for an IBS offshore testing solution. Many companies have their BAs take care of testing, averting their attention from BA work. Not only that, but they are generally the only one’s able to do the testing due to a lack of documentation. Allow the IBS offshore team to take care of your testing needs. Not only will we take care of the tedious testing process, but our team will create a well-documented test script that anyone can run at a lower cost to you.
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"An experienced IBS offshore maintenance team can provide the level of support you need to keep all of your systems up-to-date and running smoothly through all of these changes."