article thumbnail

Transforming the Game: How Consolidation is Revolutionizing the Insurance Brokerage Industry | Blog

Everest Group

Readily available capital and low-interest rates made the past few years ideal for the insurance brokerage industry to consolidate in response to increased competition, changing customer expectations, and other challenges. The insurance brokerage industry went through an inflection point last year.

article thumbnail

Transformation Imperatives for Wholesalers and MGAs in Insurance: Exploring Opportunities to Unlock the Next Growth Phase | Blog

Everest Group

Managing General Agents (MGAs) and wholesalers are becoming increasingly relevant in the insurance ecosystem due to the unique advantages they have over brokers/agents. Technology and business process services (BPS) providers can help MGSs reduce costs and increase their digitization and automation intensity.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

9 Healthcare Trends For 2024

Perficient Digital Transformation

Recommended Approach : Given the tight operating margins many HCOs face, leaders must strike the right balance balance of effectiveness and cost-efficiency. Risk management, data access controls, and continuous monitoring and logging are likely on your checklist. Be sure to also consider your software supply chain security.

article thumbnail

Focus on data ecosystems in the era of financial services

Capgemini

The banks and insurers don’t have a choice but to start to collaborate,” Parmar says. “So, By procuring data from a variety of sources, they can enrich their own data and improve in areas like risk management. So, the desire is there to grow and reach new prospects and clients and to service them better.

Service 52
article thumbnail

Outsourcing HR Functions: What Are the Pros and Cons?

NoonDalton

When compared to a full-time HR staff with recurring annual expenses, an active HR outsourcing strategy will guarantee better results at reduced costs. Risk Management. Not only do HR teams manage employee relations and anti-discrimination initiatives. Employee Benefits Admin.

article thumbnail

The Pros and Cons of HR Outsourcing

NoonDalton

Some of the advantages of outsourcing HR tasks are obvious, such as cost savings or increased efficiency; nevertheless, people often neglect certain significant advantages. . Reduce Costs. HR personnel are now involved in recruiting, hiring, training, morale-building, policy-making, risk management, and other activities.

article thumbnail

IAOP GOV20: Rethinking Governance

Neo Group

In this panel, leaders from the financial and insurance sectors discuss how regulations and compliance have to increasingly be included in ongoing governance. John Bree will also be moderating a Risk Management Panel on Third-party COVID-19 Disruption. . No industry is immune to it.