Outsourcing … a business concept and practice that emerged and morphed over the last four decades as business models evolved and competition for resources and expertise expanded. While outsourcing has had highs and lows relative to public or business perception, a new model and approach for outsourcing is on the rise in the insurance industry. This new model is focused on business value, brand enhancement and shared results via a strategic partnership, leveraging capabilities, knowledge and experience on a global level with implementation being done at a local level to create operational and strategic value. Looking at the historical transformation of outsourcing helps put into perspective this new model emerging in the industry.
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