"Outsourcing" has become a hot topic for insurers and other businesses alike. This article highlights some of the factors to bear in mind if an outsourcing project is to be successful.
The recent economic climate has resulted in many businesses reviewing their business models with a view to reducing overheads. One of the tried and tested (if not completely trusted) methods of saving costs is outsourcing, and it comes as no surprise that in recent times there has been a significant surge in the extent to which businesses are outsourcing IT and business process (i.e. back-office) services.
The insurance industry is no different to any other in this respect. Indeed, several outsourcing suppliers have picked up on this trend and focused their efforts on meeting the specific needs of the insurance industry. As a firm, BLG has advised on many significant outsourcing projects, from both a supplier and user perspective. In this article, we distil some of the key considerations which can
