NU Online News Service, May 4, 3:33 p.m. EDT
A survey of offshore firms that perform property-casualty insurance company functions finds they are expecting U.S. firms to send them more work providing first contact with claimants, as well as additional actuarial support.
The findings by Conning Research & Consulting Co. also identified a potential for overlooked risks by U.S. firms that ship out jobs overseas. The study was based on survey results from 25 offshore providers.
According to the survey, providers said there was an average 32 percent savings over on-shore alternatives. The providers said that besides expense savings, U.S. insurers chose to send functions offshore to focus on core business operations and improve quality of service.
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