Outsourcing began in the manufacturing sector, but has gained popularity in other segments especially the insurance sector. This is because it is a critical and valuable tool that promotes efficiency and stimulates productivity. It is an important factor, especially when hiring and maintaining experienced staff has become expensive and difficult. Our unique commercial carrier outsourcing services provide fully functioning insurance management structures, without the cost and concern of day-to-day hands-on management. We bring the breadth of Artex’s expertise and creativity to the development of holistic solutions to serve the needs of insurance organizations of all sizes and geographical location. Our practice is comprised of unrivalled legal, compliance, underwriting, operational and financial experts that allows your employees to concentrate on the core competencies of the business.
Advantages of Outsourcing for insurance organizations
- Flexibility & scalability
- Optimum use of manpower
- Reporting, compliance management & regulations
- Access to more resources and innovative technology
- Reducing costs of doing business
- Data backup and disaster management
- (Re)insurance company “in a box”- Customized turnkey approach to outsourcing with solutions that resolve a variety of operational and financial challenges.
- Outsourced team - Fully staffed with expert teams, focused on providing solutions that take into account all aspects of your business. Having the ability to adjust your business operations will assist your company to remain agile and meet your growth projections.
- Business Plans & advocacy with regulators - Our unique insight into the current market conditions and standing in the industry give us an ability to lead clients through the bureaucracy and complexities involved in the whole process that makes an insurance license difficult to obtain including pro-actively working with regulators on your behalf.
- Recognized brand-Artex is known as a global leader in insurance management within the alternative risk and reinsurance markets. We extend our relationships in this space to aid you in accessing better markets, better operational efficiencies and better overall risk management.
- Speed to market - Our approach is designed to move at the speed of your needs. This nimble approach is uncompromising on quality and execution.
- Strong governance environment – Insurance regulations and laws are dynamic. Our uncanny ability to examine issues from multiple levels gives us insight into how laws and compliance are evolving, and how to respond quickly. We closely monitor your processes, as well as ours, for continuous improvement.
- Expert underwriting and systems - Underwriting can be both an art and a science. Our team has a sense of how to blend better risk management with cost control while building relationships with all stakeholders.
Programs and solutions for specialty niches
Apart from our proven ability to provide world-class business process outsourcing services to (re)insurance operations of all sizes and complexity, we have also designed specific programs for niches.
- Direct Underwriting – helping prospective insurance business owners establish and manage their own venture with the creation of their own commercial (re)insurance company to (re)insure risks within the UK and European Union (EU) markets.
- PEO & Temporary Staffing – providing a variety of best-in-class workers compensation outsourcing solutions to the PEO and temporary staffing industry.
- Legacy Solutions & Run-off – outsourcing of ‘legacy books’ (or ‘closed books’) can free insurers from managing the process and IT that supports these mature product lines, yield substantial cost-savings and lower capital requirements.
- Risk Management Services – we believe that there is an upside to risk when the right solutions and services are in place for a client including claims analytics, claims management and claims advocacy.
- Corporate Services – providing formation and administration services for investment holding companies that own commercial (re)insurance entities in each jurisdiction in which we operate.
A culture of better
Our approach blends both art and science to create solutions that are exceptional and focused on your unique challenges. It’s hard not to pay attention to the advantages of outsourcing to the insurance sector. Simply put, it will increase the efficiency of an organisation, reduce business costs and streamline its operations.
To see how we can help you, start here.