Bridging the gap
Outsourcing is an effective way to make up a skills deficit or save costs but forging a long-standing and successful partnership relies upon laying the foundations correctly, explains Michael Walton.
Many insurers are currently weighing up the pros and cons ofoutsourcing.
The Financial Services Authority is scrutinising the practice and new
regulations governing it are due to come into existence next year.
Outsourcing can provide an efficient and economical means of dealing with
day-to-day operations, allowing insurers to concentrate on core
activities.
FSA regulations will simply increase the efficiency of outsourcing, to the
benefit of insurers and outsourcers alike.
The range of outsourcing
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